SCOTT Pendlebury has played his last game for Collingwood and will continue his career at Gold Coast next season.

As reported by AFL.com.au on Friday, a move to the Gold Coast had been growing closer as the Suns' interest continued to build in recent weeks.

And following the Magpies' heartbreaking finals exit on Friday night, it has been confirmed that while the Pies champion will play on next year, his time in black and white is over.

"This decision has not come lightly but I know this is the best thing for me and my family as I transition into the next phase of my football journey," Pendlebury said in a statement, before he speaks to the media at a press conference on Saturday afternoon.

"And while my next chapter won't be in the black and white, it's hard to put into words what the Collingwood Football Club means to me."

>> SEE BELOW FOR FULL STATEMENTS FROM PENDLEBURY AND CRAIG MCRAE

Pendlebury, 38, has been determined to wait until the end of the Magpies' season before making a decision on his future.

The Suns had established themselves as the key club chasing Pendlebury to play on next season and add vital leadership to their young group, with a coaching aspect down the track part of their interest. 

His manager Anthony Panozzo told AFL.com.au last week that multiple clubs had reached out about Pendlebury's plans in 2027 and that he was waiting until the close of Collingwood's campaign before making a call on his future. 

The Suns have targeted Pendlebury to add experience to their group, with the two-time premiership Magpie and all-time VFL-AFL record games holder having been considering his plans in recent weeks.

Pendlebury had not been offered a new deal by the Pies. 

Pendlebury's long-term interest in coaching and seeing another environment would benefit the Suns, with a move similar to Luke Hodge's switch to Brisbane and Sam Mitchell's trade to West Coast at the end of their Hawthorn careers building both of their late-career legacies.

The 2010 Norm Smith Medallist has played 442 games, having broken Brent Harvey's record of 432 games earlier this season in front of a packed MCG.

Pendlebury was on the MCG post-game on Friday night as the Magpies said farewell to his long-time teammate, Steele Sidebottom, who announced his retirement earlier this month.

Pendlebury missed the game due to a hamstring injury.

Scott Pendlebury statement

"For the past 21 years, it's been an incredible privilege to be a Collingwood footballer. From walking in the doors as a 17-year-old, to seeing the way everyone at the club has welcomed and embraced my family over all these years is something that is truly special.

"I've spent the majority of my life here and so many of my best memories have come through being part of Collingwood. The friendships, the challenges, the successes and even the tough times have all shaped who I am.

"The privilege of pulling on the Collingwood jumper has never been lost on me. I understand what this club means to so many people and I've always tried to represent it in a way that makes our Magpie Army proud.

"This decision has not come lightly but I know this is the best thing for me and my family as I transition into the next phase of my football journey.

"And while my next chapter won't be in the black and white, it's hard to put into words what the Collingwood Football Club means to me. To all my coaches, the staff and my teammates, thank you for everything. Collingwood has been such a significant part of my life and I'll always be grateful for the opportunity to represent this great football club."

Craig McRae statement

"Scott has dedicated so much of himself to this club over such a long period of time and we're all incredibly grateful for the impact he's had. He turns up every day with real humility, a willingness to learn and a genuine care for the people around him.

"We talk a lot about legacy in footy, but Scott's legacy isn't just the games or the records. It's the impact he's had on people.

"At Collingwood, we live in a state of growth mindset with no ceilings and he has led this from the front. He has been an incredible role model for his teammates and the wider club.

"We are all grateful for being a part of Scott's football journey and the shared experiences and memories we've had together.

"To Scott, Alex, Bruce, Liza, Jax and Darcy, they will always be apart of our Collingwood family."