THE AFL has fined Mick Malthouse and Stephen Milne for their roles in Friday night's quarter-time altercation at Etihad Stadium.

The Collingwood coach was fined $7500 and Milne $3500 after the pair exchanged heated words as the teams walked to their huddles.

The League found both men guilty of engaging in aggressive or threatening conduct.

Collingwood assistant Paul Licuria was also fined $3500 for his involvement.

Milne and Malthouse buried the hatchet on Sunday - each acknowledging that their comments were inappropriate.  

AFL football operations manager Adrian Anderson said it was unacceptable for a senior coach to insult opposition players, but the League had considered Malthouse's apology when determining his sanction.

"This conduct creates a volatile situation on the ground that could easily get out of hand," Anderson said.

"This is not the right example to set for coaches at community level. Michael recognises his conduct was wrong."
 
Anderson said Milne was aggressive and insulting to both Malthouse and Licuria, and used homophobic language towards Licuria. His public apology also helped lessen his punishment.

Malthouse said on Sunday: "It was only after the match that I reflected fully on the events and my actions at quarter time.

"I accept that after 27 years as a coach I should know better than to respond to incidents like this."

From the rulebook:

Rule 29.1: Prohibited Conduct

No person subject to these Rules shall act in a threatening or aggressive manner towards any other person or an Umpire on or about the Arena:-
(i) prior to;
(ii) during (including the quarter time, half time and three quarter time interval); or
(iii) following the completion of, a Match.

29.2 Causing Another Person to Engage in Prohibited Conduct
No person subject to these Rules shall act in any way calculated to or which might otherwise have the effect of causing another person on or about the
Arena to act in a threatening or aggressive manner towards such person:-
(i) prior to;
(ii) during (including the quarter time, half time and three quarter time interval); or
(iii) following the completion of, a Match.

29.4 Contravention of Rule
In any case where the General Manager - Football Operations or his nominee alleges that a person has acted in contravention of this Rule, the General
Manager - Football Operations or his nominee may deal with such person as he in his absolute discretion deems fit and without limiting his discretion he
may:
(a) refer the matter to the Tribunal;
(b) conduct his own inquiry into the matter; and/or
(c) impose a monetary sanction up to a maximum of 10 Units.