St Kilda legend Leigh Montagna believes that Collingwood need to commit to a full rebuild if the club is to rise up the ladder anytime soon.

The Pies slipped to 1-5 after ANZAC Day's loss to the Bombers that exposed just where their list is at, while the rising Bombers committed to rebuilding their list and look reenergised.

Essendon lost Adam Saad, Joe Daniher and Orazio Fantasia and ended up with three top 10 picks in return.

Meanwhile, Collingwood let go of Tom Phillips, Adam Treloar and Jaidyn Stephenson in the trade period and received little in return.

SEE ALSO: โ€˜Are we not picking our players out?โ€™ Jumper clash mars ANZAC Day clash

AFL Rd 1 - Collingwood v Western Bulldogs
MELBOURNE, AUSTRALIA - MARCH 19: Adam Treloar of the Bulldogs and Jordan De Goey of the Magpies embrace after the final siren during the 2021 AFL Round 01 match between the Collingwood Magpies and the Western Bulldogs at the Melbourne Cricket Ground on March 19, 2021 in Melbourne, Australia. (Photo by Dylan Burns/AFL Photos via Getty Images)

Collingwood are also paying a large sum of money for Treloar's Bulldogs contract and the retired Dayne Beams despite the duo not being at the club anymore.

Speaking on Fox Footy's First Crack podcast Montagna said ANZAC Day exposed how the two clubs were heading in opposite directions.

โ€œToday I saw a juncture. I saw one team, in Essendon, that are slowly starting to head north with their rebuild, and their list profile and game style. On the other side I saw another team in Collingwood that are starting to head south," the dual All-Australian said.

โ€œItโ€˜s gonna be a long way back for Collingwood. Just with the way their list is structured up, and the way theyโ€™re going.

โ€œThatโ€˜s 15 players on Collingwoodโ€™s list who are getting towards the back end of their career. And I donโ€™t see enough young talent coming through.

โ€œI saw Isaac Quaynor as a 21-year-old, and Josh Daicos whoโ€˜s gonna be a star at 22. But thatโ€™s not enough, and I think this is the time Collingwood needs to realise that they need to make some hard calls with list management. Maybe trade away one or two of their highly-talented players; they already did it with (Adam) Treloar, but they didnโ€™t get enough bang for buck there.

โ€œLike Essendon. Essendon lost (Adam) Saad, they lost (Orazio) Fantasia, they lost (Joe) Daniher, but I think they came out better for it. They got three picks inside the top 10. I think Collingwood have to go down a full rebuild, and start to really get some top 10 draft picks, and turn this club around. Theyโ€˜re gonna get Nick Daicos, which is a great start.โ€

AFL Rd 1 - Western Bulldogs v Collingwood
MELBOURNE, AUSTRALIA - MARCH 20: Josh Daicos of the Magpies celebrates kicking a goal during the round 1 AFL match between the Western Bulldogs and the Collingwood Magpies at Marvel Stadium on March 20, 2020 in Melbourne, Australia. (Photo by Quinn Rooney/Getty Images)

Collingwood have star power on their list, but lack depth and don't appear destined for success anytime soon with the current list.

They recently re-signed Darcy Moore and Jordan De Goey on big money, while Brodie Grundy is playing out a seven-year, $7 million deal.

Montagna believes the Pies have currency if they decide to commit to a full rebuild at season's end.

โ€œYou wouldnโ€˜t trade Pendlebury, but do they think about De Goey? Do they think about Brodie Grundy? Do you make a decision that is really, really hard, but get two top-ten draft picks and start again and bite the bullet?โ€ Montagna said.

โ€œBecause thereโ€˜s a lot of guys there who theyโ€™ve given a lot of time to, and have given great service to this football club โ€ฆ but nowโ€™s the time they have to start looking to the future, and I think they need more young talent.โ€œ

SEE ALSO: Bulldogs star Josh Dunkley set for surgery, season in jeopardy

AFL Rd 4 - Collingwood v GWS
MELBOURNE, AUSTRALIA - APRIL 10: Jordan De Goey of the Magpies looks dejected after losing the round four AFL match between the Collingwood Magpies and the Greater Western Sydney Giants at Melbourne Cricket Ground on April 10, 2021 in Melbourne, Australia. (Photo by Quinn Rooney/Getty Images)

David King questioned whether De Goey for one, had the value Collingwood would be demanding at the trade table.

De Goey has underperformed this year, booting seven goals from five games - with four of those coming in Round 2 against Carlton.

โ€œWhoโ€˜s giving up two first-round picks for Jordan De Goey? I donโ€™t think thereโ€™d be many clubs that would,โ€ he said.

โ€œSo what does a rebuild look like on game day? What does a rebuild look like for Collingwood today? Six players under ten games today, so theyโ€˜ve done that. Rantall, Macrae, Kelly, Murphy, McCreery, Ruscoe. 11 players under 30 games. Theyโ€™re in a rebuild, mate. Theyโ€™ve started.โ€

AFL Rd 8 - West Coast v Collingwood
PERTH, AUSTRALIA - JULY 26: Brodie Grundy of the Magpies contests a ruck with Oscar Allen of the Eagles during the round 8 AFL match between the West Coast Eagles and the Collingwood Magpies at Optus Stadium on July 26, 2020 in Perth, Australia. (Photo by Will Russell/AFL Photos/via Getty Images)

Montagna doubled-down saying the Pies needed to reach their rock-bottom beforeย  they rise.

Carlton infamously showed how grim that can look when they won just two games in 2018, despite Brendan Bolton being in his third year at the club.

Before that, the Blues had won six and seven games in the years prior under Bolton.

Montagna believes the Pies have to go back to go forwards.

โ€œLooking at it today, theyโ€˜ve got a long way to go, and they havenโ€™t even bottomed out yet. Iโ€™m looking at Essendon today going gee wiz, theyโ€™ve already started their rebuild, theyโ€™re heading in the right direction. Collingwood havenโ€™t even hit ground zero yet and theyโ€™ve got a long way to go until theyโ€™re a team again thatโ€™s contending for the top four,โ€ he said.

โ€œIf they knew at the start of the year they were rebuilding, why wouldnโ€˜t they have played Darcy Cameron in Round 1 instead of Mason Cox? Why did Chris Mayne get a game? Why have they played Levi Greenwood? Are they trying to win games, or are they trying to rebuild at the start of the year?โ€

โ€œYou donโ€˜t just play kids because of their birth certificates,โ€ King added.

โ€œEvery team tries in the first five or six weeks to try and bank wins, because you donโ€˜t know what the competitionโ€™s doing and you donโ€™t know where youโ€™re at. Sydney didnโ€™t know they were gonna be where they were. I donโ€™t think the Dogs or Melbourne knew they were gonna be this good - youโ€™re testing the water.

โ€œFremantle have kept Mundy and Fyfe, they havenโ€˜t just tipped them out because theyโ€™re rebuilding.โ€œ