Swans superstar Adam Goodes has already spoken of his deep distress at being called an "ape" by a 13-year-old girl supporting the Magpies late in the MCG clash.
YouTube footage uploaded on Saturday shows a man wearing Collingwood apparel screaming about indigenous players during the same game.
"Give it to Goodes because he is black. Give it to (Lewis) Jetta because he is black. It's Indigenous Round umpire," the barracker shouted.
A Magpies spokesman said if the man was a Collingwood member and the club was able to identify him, he would have his membership cancelled in line with the club's zero tolerance policy to racism.
If he's not a Collingwood member, while the club would still condemn the man's actions, they don't have the power to sanction him.
An AFL spokesman said he was yet to see the footage but the League had made it clear where they stand on racism.
On Saturday, Goodes received an apology from the 13-year-old girl and said while he was "gutted" by her comment, she needed to be supported and educated.
"She's 13 years old, still so innocent, I don't put any blame on her," Goodes said.
"Unfortunately it's what she hears and the environment that she's grown up in that has made her think that it's okay to call people names."