That premiership team, which will be due to gather for a 50-year reunion next year, is still the Demons' most recent, much to Mann's dismay.
And given the club's current situation, he does not see things changing quickly.
"Unfortunately we are going through a very, very hard time, and I see a long period ahead," the three-time club best and fairest winner said after being inducted.
"The annoying thing about it, or the embarrassing thing about it, is that I'm still a member of the last Melbourne premiership side.
"I'd rather be celebrating with the players of today in another premiership."
Mann has direct experience of testing times at Melbourne.
He was the club's CEO in 1996, and alongside then-president Ian Ridley, made the decision the Demons should merge with Hawthorn.
He revealed the period had been one of the hardest of his life, and even caused friendships to fracture.
"With Ian Ridley, we went through a great trauma in reaching the decision we did," he said.
"But based on the facts we had and the circumstances that were facing the football club, we thought it was in the best interests of the club to pursue it.
"It was a very costly affair for many of us.
"I lost a lot of friends over it. They felt that we were selling out on the club."
Demons members voted in favour of the merger, but Hawthorn voted against it, following a spirited campaign led by Don Scott.
The two clubs have followed different trajectories since, and now sit at opposite ends of the AFL ladder.
But Mann maintains he was relieved the Hawks prevented the joining of the two clubs.
"Don Scott did a terrific job from Hawthorn's perspective, and they voted against it, so the merger did not go through," he said.
"I think in some respects we were all very happy about that."
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