Eddie McGuire says his return to The Footy Show will have no impact on Collingwood, with the long-serving Magpies president describing his club's situation as "fine" ahead of the delivery of a wide-ranging review in coming weeks.

Already a prominent radio and television host, McGuire was sensationally unveiled on Friday as co-host with Rebecca Maddern of Channel Nine's flagship football variety program, replacing Craig Hutchison, who had only taken on the position this year. McGuire's return to the show he previously hosted between 1994 and 2005 is viewed as a bid to boost flagging ratings, but also comes at a delicate time for Collingwood.

The Pies – poised to miss the finals for a fourth straight season – are preparing for the results of a board-commissioned review from businessman Peter Murphy to be handed over in around a fortnight. While the review is supposed to look at all areas of the club, the public focus remains around the future of Pies coach and favourite son Nathan Buckley.

The sixth-year coach is uncontracted beyond this season, with McGuire and his board facing the prospect of needing to make a decision on the man hired to replace Mick Malthouse in the famous succession plan of 2009.

Speaking on ABC radio on Saturday before the Pies' clash with West Coast at Etihad Stadium on Sunday, McGuire said he had not raised a possible return to The Footy Show with his fellow directors.

"What I do for a living doesn't have any impact on the Pies. It all fits in. I've worked through what needs to happen," McGuire said.

"I don't think it's any shock to anyone. I was the host of The Footy Show when I became the president of Collingwood 18 years ago.

"We're going to do a television show. It's not that big a deal. We all have to make a living.

"It only happened yesterday. I didn't have time to run it past my wife until late in the afternoon."

Despite the pressure surrounding Buckley and other key Magpies personnel including chief executive Gary Pert and recruiting boss Derek Hine, McGuire denied a suggestion that the review spelled certain change at the Holden Centre, arguing that it needed to happen because of the AFL's equalisation policy, specifically the football department soft cap.

"The Collingwood situation's fine. The blueprint is coming along nicely. Peter Murphy will report in the next couple of weeks," McGuire said.

"We'll finalise it in due course. But there's some really good things coming through as to the direction Collingwood needs to go in.

"We're acknowledging that the game has changed, and that there needs to be a re-boot of our business plan, given the fact the AFL completely sabotaged the one that was successful and worked for us.

"We don't have any money anymore, because the AFL have changed it. The equalisation policy has come into play."

McGuire was in February elected unopposed to another three-year term at the helm of the Pies, but insisted he would know when the time was right to relinquish his position.

"It's totally up to the individual," he said. "You spend a lot of time learning the ropes. I won't be there forever. I'm not hoping to be."