Selwood, returning from a two day AFL Community Camp in Warrnambool, was pulled over by Police after driving at 127 km/h in a 100km/h zone while overtaking another vehicle, according to the Geelong Advertiser.
The three-time premiership player reportedly had two teammates in the car with him at the time.
He also faces a fine of $228, a loss of four demerit points.
The Cats last night notified the TAC, a sponsor of the club, that a player had been caught been speeding.
“Joel and the club are disappointed in his actions. Joel informed the club immediately of the issue and the club has since updated its key stakeholders,” Geelong’s acting CEO Justin Reeves said.
“Everyone associated with the club takes road safety very seriously, and knows that speeding is unacceptable and can cause accidents. Fortunately these actions did not result in an accident.
“The club has a long standing relationship with the TAC and the parties will meet this week to further discuss the matter. Our club is a huge supporter of Victoria’s Towards Zero mission and we work closely with the TAC to ensure every player understands how they can contribute, both in a leadership sense and in the way they use the roads. Every player understands the link between speed and deaths and injuries so we share the TAC’s disappointment at these actions.”