Nicky Winmar and photographer Wayne Ludbey will reportedly pursue legal action against Sam Newman, Don Scott and Mike Sheahan over remarks made about the iconic image of the St Kilda legend from 1993, reports ESPN.

Winmar famously lifted his top and pointed to his stomach 27 years ago at Victoria Park after being racially taunted during the game.

Speaking on their You Cannot Be Serious, Newman, ex-Hawk Don Scott and journalist Mike Sheahan suggested the symbolism of the image was taken out or context and not a stance against racism.

โ€œMaybe Nicky's dining out on it now about lifting his jumper because I reported on that game at Collingwood,โ€ Scott said.

โ€˜St Kilda played Collingwood and my recollection was that St Kilda won and Nicky lifted his jumper saying, โ€˜That was a gutsy effort. We have got heart'. Now it's been misconstrued.โ€

Sheahan agreed that the moment was in reference to a gutsy effort.

โ€œThe only person who knows what he meant is Nicky Winmar. He now says he was pointing to the colour of his skin,โ€ Sheahan said.

โ€œUnlike some of the people I work with, I'm going to consider it before I give an answer.

โ€œI was at Victoria Park that day โ€ฆ and I reckon I left the ground thinking he was talking about guts.โ€

Newman believes Winmar's action is now used by activists as a strong message.

โ€œWell done. And then it just morphed into all that other by activists,โ€ Newman said.

Ludbey, one of Australia's most famous photographers, stands by the original symbolism of the image.

โ€œNever at any stage in the last 27 years have I veered off my original story,โ€ย he toldย ESPN.

โ€œI was assigned to do that game, and not only did I photograph it but in front of me was an indigenous man responding to racism.

โ€œI didn't hear any specific racism directed at him, but he was responding to it and lifted his jumper, pointed at his skin and said โ€˜I'm black and I'm proud to be black'.

โ€œI was just doing my job, and itโ€˜s not about me. It's about a man, a moment and a comment, and his friend Gilbert McAdam.

โ€œWhat Mike, Sam and Don don't realise is that I had a 400mm lens on initially, and then I put on a wide-angle lens, I only had one camera, and then I ran after Nicky, and he ran to Gilbert. Nicky was in front of the social club area there and then he ran into the centre of the ground where Gilbert was, I was not far behind.

โ€œThey embraced and brought their heads together, and Nicky was repeatedly saying in that euphoric moment of celebration, โ€˜I'm black and I'm proud to be black, I'm black and proud to be black, I'm black and proud to be black', to Gilbert as they embraced. So I don't know if I can be any more specific about what happened.โ€