McGuire made the announcement tonight at a club members forum.
The decision means the Collingwood president will depart after serving the club for a total of 23 years after taking over the position at the end of the 1998 season. McGuire revealed he had planned for some time that he would be announcing the decision to step away at the end of the year."Back in 1998 it was my time to stand up for our beloved Collingwood, instead of calling on others to do something for our club, they turned my way and I'm proud that I answered," McGuire said.
"I have given everything I have to this position and now it is time for the club going forward, I will stand down at the end of next year and spend the rest of my time as president setting up a new era of Collingwood." McGuire said the COVID-19 pandemic and "the change in direction of my media life and the timing of my son's schooling ending, the time was right and future strong for our club for me to make this call".McGuire earlier this year was re-elected to continue his position at the club for a further three years, meaning his tenure will now be cut short by 12 months following his decision to step away.