The president of the Collingwood Football Club announced yesterday that he would step down immediately, saying it’s in the best interest of the club’s future.

Mr McGuire has been in the firing line since the leak of a report which found that the club was guilty of systemic racism.

He was further scrutinised for his response to the report when he said it was a ‘proud day’ for the club.

He announced his departure to press yesterday.

A federal Labor MP says it would be a missed opportunity if we didn’t address the issues behind the resignation of Collingwood Football Club’s president.

McGuire’s move also follows the release of an open letter signed by politicians and Indigenous leaders calling for him to step down.

Labor MP Peter Khalil is one of the signatories of the open letter and says there is still more to do.