Twelve months after securing Kurt Tippett in a big-money deal, the Swans have shocked the AFL by tempting Franklin to Sydney with an extraordinary nine-year, $10 million offer.
The deal is still to be ratified by the AFL, but that hasn't stopped a barrage of criticism over the Swans' cost of living allowance (COLA) and supposed advantage when it comes to signing players.
McVeigh wins second Bob Skilton Medal
Colless, who hands over to incoming chairman Andrew Pridham at the end of the year following two decades at the helm, didn't miss his opportunity to make his feelings clear.
"I am genuinely lost for words," Colless said following a standing ovation from the 900-strong crowd at The Star in Sydney.
"But come the resolution of the matter that is raging in Melbourne at the moment, I may well find my voice again.
"I was given strict instructions by Andrew Pridham and Andrew Ireland not to go there and I won't.
"But this club was treated like a pariah by the VFL. We got ourselves out of it.
"And we're not simply not going to take the sort of sh-t that's been said this week."
Debate over the COLA has intensified following the Franklin deal, with many speculating its days are numbered for the Swans and Greater Western Sydney.
But Swans co-captain Jarrad McVeigh voiced his belief it is still badly needed.
"It's only in the last year we've got Tippett and potentially Buddy Franklin," he said.
"Those things (the COLA) have been in place for a long time. We believe it's still needed.
"The players at this footy club do receive all the cost of living allowances in their contracts and we all understand that.
"That's the reality of it. There's a lot of teams having a crack at us, no doubt.
"That's understandable. They're probably disappointed they didn't get Buddy themselves.
"We're not going to be sorry for trying to be a ruthless team and get the best players we can."
Colless addressed a number of issues during his speech, including acknowledging the contribution former coaches Ron Barassi and Rodney Eade made to the club.
Eade was sacked during the 2002 campaign, leading to Paul Roos taking over, with Colless saying "I think (Eade) would acknowledge his time had come, as it does with most coaches – you're OK Johnny," in a quip directed at current coach John Longmire.
Colless also covered the recent rift between himself and Swans' premiership-winning coach Roos over a disagreement over the Swans' academy and the new Melbourne coach's attempts to lure players to the Demons.
"I don't know how this happened, but Roosy and I had a communication breakdown," Colless said.
"I nearly had a nervous breakdown I've got to tell you.
"I was absolutely devastated that someone who almost changed the club around … and I would somehow, over something ridiculous, had fallen apart.
"I would like to say normal service has resumed."
Colless had one last message for Pridham, suggesting he should brace himself for further criticism over the Franklin saga.
"I also want to thank Andrew Pridham, who is assuming the chair," Colless said.
"I reckon Andrew about December is about the right time to be taking over.
"I reckon the relationship with some of our brother clubs will be at boiling point.
"I think my timing has been impeccable."
Colless, who hands over to incoming chairman Andrew Pridham at the end of the year following two decades at the helm, didn't miss his opportunity to make his feelings clear.
"I am genuinely lost for words," Colless said following a standing ovation from the 900-strong crowd at The Star in Sydney.
"But come the resolution of the matter that is raging in Melbourne at the moment, I may well find my voice again.
"I was given strict instructions by Andrew Pridham and Andrew Ireland not to go there and I won't.
"But this club was treated like a pariah by the VFL. We got ourselves out of it.
"And we're not simply not going to take the sort of sh-t that's been said this week."
Debate over the COLA has intensified following the Franklin deal, with many speculating its days are numbered for the Swans and Greater Western Sydney.
But Swans co-captain Jarrad McVeigh voiced his belief it is still badly needed.
"It's only in the last year we've got Tippett and potentially Buddy Franklin," he said.
"Those things (the COLA) have been in place for a long time. We believe it's still needed.
"The players at this footy club do receive all the cost of living allowances in their contracts and we all understand that.
"That's the reality of it. There's a lot of teams having a crack at us, no doubt.
"That's understandable. They're probably disappointed they didn't get Buddy themselves.
"We're not going to be sorry for trying to be a ruthless team and get the best players we can."
Colless addressed a number of issues during his speech, including acknowledging the contribution former coaches Ron Barassi and Rodney Eade made to the club.
Eade was sacked during the 2002 campaign, leading to Paul Roos taking over, with Colless saying "I think (Eade) would acknowledge his time had come, as it does with most coaches – you're OK Johnny," in a quip directed at current coach John Longmire.
Colless also covered the recent rift between himself and Swans' premiership-winning coach Roos over a disagreement over the Swans' academy and the new Melbourne coach's attempts to lure players to the Demons.
"I don't know how this happened, but Roosy and I had a communication breakdown," Colless said.
"I nearly had a nervous breakdown I've got to tell you.
"I was absolutely devastated that someone who almost changed the club around … and I would somehow, over something ridiculous, had fallen apart.
"I would like to say normal service has resumed."
Colless had one last message for Pridham, suggesting he should brace himself for further criticism over the Franklin saga.
"I also want to thank Andrew Pridham, who is assuming the chair," Colless said.
"I reckon Andrew about December is about the right time to be taking over.
"I reckon the relationship with some of our brother clubs will be at boiling point.
"I think my timing has been impeccable."
