MELBOURNE, AUSTRALIA - JUNE 13: Eddie McGuire emerges from the water after going down the Freeze MND slide during the 2016 AFL Round 12 match between the Melbourne Demons and the Collingwood Magpies at the Melbourne Cricket Ground on June 13, 2016 in Melbourne, Australia. (Photo by Michael Willson/AFL Media/Getty Images)

REPORTS: Holden set to stick with Pies

Holden is set to maintain its sponsorship of the Collingwood Football Club following Eddie McGuire’s drowning comment about Caroline Wilson. However, the structure of its sponsorship is set to change.

The Herald Sun has reported that Holden will redirect over half of its sponsorship dollars to the Collingwood women’s team and the club’s community programs.

Holden announced in June that it was reviewing its sponsorship of the club following McGuire’s comments regarding Wilson last month.

“Holden categorically disapproves of Eddie McGuire’s inappropriate comments, along with those of his co-hosts,” Holden said in a¬†statement.

“Holden prides itself on diversity, inclusion and social responsibility – they are cornerstones of our business.

“Comments like these, regardless of their intent, have no place in today’s Australia and reflect poorly on the Collingwood Football Club, it’s fans, stakeholders and sponsors. Unfortunately, it can call into question the culture of the club, overshadowing good work done in the diversity space and local communities.

“Holden is engaging with Collingwood to directly express our disappointment and discuss the future of our sponsorship.”

Holden’s sponsorship of the Magpies is said to be¬†worth up to $1.5 million per year.