Watch the press conference on the club's YouTube channel.

COLLINGWOOD says Heath Shaw's future at the club is not in doubt but the defender faces a major challenge to win his place back in the team for the first week of the finals.

Shaw was suspended for 14 weeks (with six suspended) by the AFL on Friday for betting on Collingwood's round nine clash with Adelaide, ruling him out for the remainder of the home and away season.

Collingwood football director Geoff Walsh said Shaw had shown "the height of stupidity", but would have the club's support as he sought to maintain a level of fitness suitable for finals football.

"No matter who the player is, to miss eight weeks of match practice and match hardness (and return for week one of the finals) is an enormous task," Walsh told media at the Westpac Centre on Friday afternoon.

"We hope that we're going as well then as we are now so that it becomes extremely difficult for Heath, or anyone who misses that length of time, to force their way back into the side.

"Having said that, we'll give Heath…every opportunity once he's served his penalty to regain his spot, as hard as that will be."

Shaw has found himself in trouble before - he was fined and suspended by the Magpies after being caught drink driving in 2008.

But despite another indiscretion, club president Eddie McGuire, appearing alongside Walsh, Shaw and club captain Nick Maxwell, said Shaw's future at Collingwood was not in question.

"Heath did the wrong thing, he admitted his mistake, he will accept his penalty, and from there on he will fight for his position in the side," McGuire said.

"People often say, 'how many chances do you give a person?' You give as many chances as it takes.

"We're quite comfortable with Heath's development as a person and his character."

In explaining his actions, Shaw said he'd been at the local betting agency with a friend the day before the match, betting on horse racing.

His friend, having learnt from Shaw that Maxwell would be playing in the forward line, decided to wager $10 on the backman to kick the first goal against the Crows, and asked Shaw if he "wanted some as well".

Shaw agreed and gave $10 to his friend, who placed the bet.

He said he was discovered after being picked up on CCTV cameras in the venue.

"At the time it was something minor, a little bet, and I thought nothing would come of it," Shaw said.

"Looking back, obviously it was a stupid thing to do and these days you can't get away with anything.

"I didn't think of the consequences at the time if I was caught."

Shaw said he still had hopes of being involved in Collingwood's finals campaign.

"These next eight weeks are just about doing everything right and getting myself into the best position so that when it comes around I can put my hand up for selection and say, 'I'm ready to go'," Shaw said.

Maxwell was also implicated in the AFL's investigation after the League discovered his family members had also backed him to kick the first goal, acting on information Maxwell had passed on.

The premiership captain was fined $10,000 for revealing inside information that was used to gamble.

"In round nine, the same as I have for every match of my AFL career, after I found out my role and who I'd be playing on etcetera, I spoke to family members," Maxwell said.

"I had no idea until yesterday that they'd used that information to bet; they'd never done it before.

"I take full responsibility for that. The rules state that any information you give out, you have to back that up and say it's not to be used for gambling purposes.

"I never said that…so that's why I find myself here.

"It's not (my family's) fault, because I'd never explained that situation to them, so I take responsibility."

Maxwell said he didn't feel his penalty was too harsh.

"I think it's pretty important that the AFL made a strong stance on this," he said.

"It's a really good lesson to players that no matter who you share information with, even family members, everyone needs to understand what the rules and regulations are."

McGuire said the club had not considered removing Maxwell from his position as club captain.