PORT Adelaide forward Jeremy Finlayson has been suspended for three matches for making a homophobic slur towards an Essendon player on Friday night. 

Finlayson's penalty, however, has sparked a call from the AFL Players' Association for a review of the League's processes for what it says are "double standards" when penalising players and officials. 

As AFL.com.au first reported on Saturday, the AFL launched an investigation after a homophobic comment from Finlayson was picked up by the on-field umpires' microphones and called out by Bombers players during the match at Adelaide Oval on Friday night.

Finlayson, 28, apologised to the target of his slur post-match, and on Sunday made a formal apology, describing his words as "unacceptable". The League took his contrition into account when determining the penalty.

In addition to the three-game ban, Finlayson will also complete a Pride in Sport education course, at his own cost.

Port Adelaide, which is 3-1, will play Fremantle this weekend before games against Collingwood, St Kilda and the Showdown against Adelaide.

The finding against Finlayson comes a month after North Melbourne coach Alastair Clarkson was fined $20,000 and handed a suspended two-match ban for using a homophobic slur towards St Kilda defenders Jimmy Webster and Dougal Howard during a pre-season game after Webster had concussed Roos co-captain Jy Simpkin with a high bump.

AFL general counsel Stephen Meade on Wednesday reiterated the AFL's stance that there was no place for homophobia in football. 

"Everyone, including Jeremy, understands the word he used is both hurtful and totally unacceptable in any setting, ever," Meade said.

"The AFL is very clear that homophobia has no place in our game, nor in society. We want all people in LGBTQI+ communities to feel safe playing or attending our games and we know the incident that happened on the weekend does not assist this goal. As a code we will continue to work together to improve our game as a safe and inclusive environment for all.

"The AFL will continue to consider the specific circumstances in each incident in determining appropriate responses. Jeremy's sanction would have been higher if he didn't immediately understand and take ownership of his mistake both privately and publicly."

In a statement released on Wednesday afternoon, Finlayson reaffirmed his regret for making the comment. 

"The word I used has no place in our society or our game," Finlayson said.

"Words can be very hurtful and what I said on Friday night was totally unacceptable.

"I unreservedly apologise again to the Essendon player, my teammates, Port Adelaide members and supporters and the LGBTQIA+ community for the distress I have caused.

"I accept the AFL's sanction and now look forward to reflecting on my behaviour and seeking education to improve myself and understand the impact such comments can have on the broader community."

While acknowledging the sanction and labelling Finlayson's words "unacceptable (and) hurtful", AFLPA boss Paul Marsh criticised the AFL for what he said were "double standards".

"We have fundamental concerns about this and historical AFL outcomes that result in discrepancies when sanctioning players in comparison to officials," Marsh said.

"We believe the AFL is consistently inconsistent and there are double standards in its approach to dealing with players compared to others on behavioural matters.

"This issue highlights the lack of clarity on how the AFL handles these situations and we want this to be the catalyst for an urgent review of the sanctioning framework.

"If this type of conduct is a three-week sanction for a player, it should be for everyone involved in the game and this should be clear to everyone in the industry upfront rather than the open-ended approach that is currently in place.

"I have expressed the AFLPA's concerns directly with Andrew Dillon, and we are seeking an urgent review of the AFL's sanctioning framework."

In 2021, Adelaide forward Taylor Walker received a six-game ban for uttering a racist remark about a rival reserves player.

Both AFL CEO Andrew Dillon and EGM of Football Laura Kane had refrained from making comparisons to recent incidents of vilification by players and coaches, saying the League would treat each case on its own merits.

"The really important thing to note here is the consistency with vilification matters is how seriously we take them," Kane told Footy Feed Extra on Monday.

"They're incredibly important integrity investigation processes for us because this is not something we want to hear or see on the field, off the field, or in fact in society, and we take all vilification matters incredibly seriously.

"In terms of comparing and contrasting, we investigate all these matters individually and we make sure that any sanction is connected to the incident that we are investigating and that we are dealing with."

The Power's AFLW coach Lauren Arnell and some W players are members of the LGBTQIA+ community and the club says they had been part of the process since the investigation began.

"We engaged our AFLW group really early in this process," Port football boss Chris Davies said on Wednesday.

"But I'm interested in the natural reaction has gone towards the AFLW group. 

"We're in a situation where there has been no openly gay player in the men's competition. 

"This is a broader issue than just thinking about the AFLW players, although they are a significant part of our club. 

"Our AFLW players are supportive of the fact that Jeremy has owned up and he has taken responsibility for what he has done."

On Wednesday, Port Adelaide chairman David Koch reiterated Finlayson's apology.

"On behalf of the Port Adelaide Football Club, I extend an apology to the Essendon player, the Port Adelaide community of members and supporters and the LGBTQIA+ community," Koch said.

"What was said is totally unacceptable and comments of this nature do not align with what our club stands for. Port Adelaide is a place for everyone so we are very disappointed with what occurred on Friday night.

"Importantly, Jeremy self-reported and apologised to the player on the night and has publicly expressed his remorse.

"We will now provide education for Jeremy and offer him and his family support during this time.

"We do not underestimate the seriousness of this matter and look forward to the AFL applying consistency to such cases in the future."

Port's AFLW coach Lauren Arnell, and some players in the women's squad, are members of the LGBTQIA+ community.

"We engaged our AFLW group really early in this process," Port football boss Chris Davies told reporters on Wednesday.

"But I'm interested in (where) the natural reaction has gone (with) the AFLW group. 

"We're in a situation where there has been no openly gay player in the men's competition. 

"This is a broader issue than just thinking about the AFLW players, although they are a significant part of our club. 

"Our AFLW players are supportive of the fact that Jeremy has owned up and he has taken responsibility for what he has done."