Collingwood have categorically denied a rumour that CEO Craig Kelly and the club have parted ways.

AFL great Brendan Fevola told Fox FM that Kelly had “already departed” the building in a swift exit that played out behind closed doors.

“He won’t be at the footy club next year. Gone,” Fevola said on Thursday morning.

“It will be announced probably next week. This happened a couple of weeks ago and they’ve kept it in-house.”

But when contacted by 7NEWS.com.au, a spokesperson for Collingwood confirmed Kelly remained in his role at the club.

Kelly, a member of Collingwood’s 1990 premiership team himself, switched from a successful career in player management to pursue the role as the Magpies’ CEO in January last year.

As an executive, he has already overseen the Pies’ incredible and dominant run to last year’s premiership.

But the club last month became embroiled in controversy when Kelly was accused of racism towards a former Collingwood employee.

The Magpies and Kelly are facing damning claims that were filed on July 29 in the Federal Circuit and Family Court of Australia.

Mark Cleaver, the club’s former head of First Nations strategy, is the sole applicant in the documents, while the Collingwood Football Club is the only respondent.

When the allegations were levelled at Kelly, Collingwood president Jeff Browne said the club would stand by its top executive.

“We’re backing in Craig Kelly and we intend to fight these proceedings and see them through to a judgment,” Browne said at the time.

Fevola claimed that Collingwood’s major sponsor Emirates had been considering its options, should Kelly remain in his role.

On August 6, Fevola said that someone who works in Collingwood’s sponsorship department messaged him.

“They said the word is that one of Collingwood’s major sponsors is not all that impressed with the allegations being made against the certain colleague of the Collingwood footy club, and is considering whether or not they’ll stand side by side with the Pies if that certain person stays on,” Fevola said earlier this month.

On Thursday, the former Carlton and Brisbane goalkicker said that sponsor was Emirates.

“I had a coffee with someone yesterday and they’re a part of one of the biggest clubs in the AFL, and they dropped a little bomb on my table,” he said.

“Now, breaking news. Graham Wright, the football manager of the Collingwood footy club, he went on holiday at the start of this year, and will not return to the footy club. He’s done, that’s already in the news.

“This time last year, Collingwood were humming. They were flying, premiership, they win a grand final, everything they touched, turned to gold, they partied, they’re the greatest team, they’ve now equaled Carlton and Essendon at 16 premierships. It was just a fairytale that movies are written about.

“But geez, have things gone pear (shaped). The football manager is gone, and now the CEO, Craig Kelly, he has departed the footy club, which no one knows yet.

“I think they were trying to hold off until the end of the year, which is Friday night, their last game.”

Collingwood insist there is no truth to Fevola’s rumour.