MICK Malthouse has put his acrimonious departure from Collingwood aside to express heartfelt thanks to Magpies president Eddie McGuire and the club for his 12 years as senior coach.

In what amounted to a truce of sorts after four occasionally tumultuous years, McGuire presented Malthouse with a plaque containing pictures of himself and legendary Magpies coach Jock McHale, whose 714-game coaching record he surpasses. 

At Carlton's pre-game function, McGuire paid tribute to Malthouse and his "profound" impact on Collingwood, saying his time at the club "didn't end the way we wanted it to end, but that's all right".

Malthouse left the Magpies in acrimonious circumstances in October 2011, saying his planned director of coaching role would not be worthwhile.

But Friday night's function appeared to show any lingering wounds from that period of his career were healing. 

"Thank you, Ed, for your Collingwood Football Club and its 12 years. You don't just wipe 12 years off, I can tell you that right now," Malthouse said.  

Malthouse's four children, five grandchildren and wife Nanette were present for the Blues' function, and walked on to the MCG with him on Friday night.

Collingwood's cheer squad acknowledged his contribution on its banner, also with pictures of both Malthouse and McHale.   

"The one moment I'll never forget I my life in this game was the moment Mick walked into the Collingwood rooms for the first time and stood there and addressed the players," McGuire said. 

"At that moment I knew we were a chance to rebuild the Collingwood Football Club. Now he's doing the same at Carlton.

"It didn't end the way we wanted it to end, but that's all right.

"We live through these things and I think we did all these things with the right intentions, but sometimes the best-laid plans don't come to fruition."