THE RELEASE of the All-Australian squad has been delayed after several Sydney players were involved in an alleged incident in Melbourne.

As reported by AFL.com.au last week, a 46-player squad was due to be released on Tuesday, before the end of the home and away season, but that announcement has now been postponed.

It comes after several Swans players were involved in an alleged incident that is now the subject of a police investigation.

Speaking on Monday, Swans CEO Matthew Pavlich said the club was "extremely shocked and disappointed" after the alleged incident.

"Safe to say we're extremely shocked and disappointed that this has taken place and that the players have found themselves in this situation," Pavlich said.

"We are still piecing together exactly what has transpired here and have our own internal inquiries ongoing."

The Swans were in Melbourne after their win over Essendon at the MCG on Sunday evening.

The victory secured the Swans second spot on the ladder and a home qualifying final ahead of their final-round game against North Melbourne at the SCG this Sunday.

The All-Australian squad has previously been announced on the Monday after the final round of the season. But the move of the AFL Awards Night to Tuesday from Wednesday due to the introduction of Wildcard Round led to a plan to announce the squad a week early and generate a week of speculation before the final 23 is announced.

The final All-Australian team is still set to be confirmed at the AFL Awards on August 25.