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ESSENDON has described the season-long suspensions handed to its players by the Court of Arbitration for Sport as "manifestly unfair".

The CAS found 34 past and present players guilty of taking banned substance Thymosin Beta-4, of whom 12 are still on the club's list.

"The penalty imposed on the 34 players is manifestly unfair," club chairman Lindsay Tanner said on Tuesday afternoon.

"At all times our players acted in good faith. They sought assurances and were provided them.

"If ever there was a case to be made for no significant fault (of the players), this was it."

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Tanner said the CAS findings were devastating for the players, particularly given the uncertainty during the three-year ordeal.

"The finding is heartbreaking for our players, who will struggle to understand how two tribunals could come to different conclusions based on the same evidence," he said.

"We felt that the comprehensive verdict of the AFL Anti-Doping Tribunal last year was the correct one.

"Notwithstanding that, we do acknowledge the authority of the Court of Arbitration for Sport and we must accept its decision."

Tanner, on behalf of the club, again apologised to the players and the club's supporters for "a mistake of the highest magnitude" in its decision to implement its controversial supplement program in 2012.

Tanner admitted the Bombers did not foresee the 12-month penalties coming.

"We had prepared for this possibility, but to be honest we didn't think it was likely," Tanner said.

"We, like everyone else in the Essendon wider community, were shocked by the decision and we're particularly shocked by the adverse findings against the players.

"We don't believe that's justified. We are mystified by the fact those findings were made when that accusation was not even levelled at them in the AFL's tribunal process."

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Tanner, on behalf of the club, again apologised to the players and the club's supporters for "a mistake of the highest magnitude" in its decision to implement its controversial supplement program in 2012. 

"This suspension comes on the top of three seasons of extreme duress for these young men. This is their livelihoods, their careers.

"And it's not just the players themselves, it's their families, their friends, their fans – the ripple effect is huge."

While Tanner would not be drawn on the possibility of legal action from its players, Bombers chief executive Xavier Campbell confirmed the banned players would be paid during their suspensions.

"They will be paid by the club. We'll have to work within the confines of the WADA code and we'll work closely with the AFL and we've had discussions to that effect," Campbell said.

Campbell also said the suspended players would not be able to have any involvement at the club during their time out of the game.

"We'll have to work with the AFL around the parameters that will need to be executed during that time. They will be able to train together as a group, but not under instruction from the club," Campbell said.

Tanner also indicated the Bombers would make a submission to the AFL in the hope captain Jobe Watson would retain the Brownlow Medal he won in 2012.

The AFL Commission will hold a meeting in February to decide whether Watson will keep the medal in the wake of the CAS verdict.