The Magpies have reached the premiership decider three times during McGuire’s presidency, with the club having previously lost to the Brisbane Lions in 2002 and 2003.
McGuire was reduced to tears in the last quarter of the Pies 56-point demolition of the Saints and after the game said it was a proud day for the club.
"Twelve years ago, I stood at the old Camberwell Civic Centre and said, 'Right ... we want to build a club that will be a great club - a club that will do things and stand for something in the community," McGuire said.
"You look at the years of going to Arizona when people laughed at us. We got the Westpac Centre and people laughed at us and we had lots of coaches and people laughed at us, but you’ve got to stick to your convictions. You’ve got to keep the plan in place and hope that you’re on the right course.
"You can do all the things off the field and get all that, but ultimately it’s about delivering the premiership. We’ve had a couple of good goes at it over the journey and I think we’ve been the most successful finals team over the last seven or eight years now, but it doesn’t mean anything ultimately until as a sporting club you win the sporting contest."
McGuire praised Collingwood’s legion of fans for sticking by the club through the tough times during the late-1990s, but saved his biggest praise for coach Mick Malthouse.
On Saturday Malthouse, who led West Coast to premierships in 1992 and 1994, joined an elite group of AFL/VFL coaches to have been involved in three or more flags.
Malthouse will be replaced by former Magpies champion and current assistant coach Nathan Buckley at the end of next season and McGuire said the experienced mentor had done a great service to the club by delivering its first premiership in 20 years.
"We’ve got a young side brilliantly coached by Michael Malthouse and absolutely led by one of the great men of AFL football," McGuire said.
"He’s now the oldest man ever to win a premiership and he was one of the youngest men when he started at the Western Bulldogs. It all goes down to Mick Malthouse and the players - they are the heroes today. They are the men in the arena and they deserve all the accolades."
McGuire refused to accept congratulatory handshakes from well-wishers until late in the final term, but said he was desperate to get around the players after the final siren.
"I really was trying not to get carried away by it. I think when Alan Didak kicked that goal it gave us that little bit of magic," McGuire said.
"He had a shoulder injury that would’ve put most people out of work for 12 months and there he is smothering a ball on the MCG, swinging it onto his right foot and putting it through.
"I'll sit back and watch the DVD tomorrow, the next day and the next day after that ... it’s a wonderful day for our club."
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