The events of the past week have placed Collingwood fans over the edge, with hundreds of the Magpies faithful calling for answers from the club's hierarchy, per Fox Sports. 

On a dramatic trade period deadline-day, Collingwood offloaded Adam Treloar, Jaidyn Stephenson, Tom Phillips and Atu Bosenavulagi in the matter of hours, leaving fans outraged at the club's miss-management.

The outcome has led to over 400 Magpies members by Friday evening signing a petition, demanding Collingwood board members hold an urgent meeting to explain their controversial decisions.

The petition said the "dark day" had a “destructive and soul destroying” impact on the club and its fans.

“Our club is spiralling into shocking territory,” it says.

“Bad press, salary cap issues. From the top the president and board must answer serious questions. They have treated members and supporters with no respect.”

Eddie McGuire spoke out of the club's actions following the outcry from fans.

“You have to look at the entire list, the demographic of that list, you had to look at the salary cap going forward,” McGuire told Triple M.

“The list numbers are going to come back and we are not getting a whole lot of information from the AFL, but at one stage it was going to go to 35 players this year and I think that it might end up heading that way and the salary cap is coming down by 10-15 per cent.

“It is an imprecise science but we hope that we have got ourselves set up with a really good list and a good team and I am still very excited where we are at as a club to go forward and bring (in) new players and get ourselves set for the next few years.

“Unfortunately it is a finite list and a finite salary cap.”