FORMER Collingwood president Eddie McGuire says he will do anything he can to resolve the now broken relationship between the club and three of its retired players - Heritier Lumumba, Leon Davis and Andrew Krakouer.

News broke on Wednesday that the ex-players had cut all ties with Collingwood, with Lumumba tweeting that "nothing has changed" following the club's the 'Do Better' report into allegations of racism within the organisation.

The Magpies vowed to implement all 18 recommendations from the report, released in January last year, which included developing a strategy "to address and reconcile past acts of racism".

Later on Wednesday, McGuire said he wasn't surprised by the tweet and Collingwood hearts break "when we see these things".

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"I hope that these three greats of the club come back to the club and have a truth telling session and get to a resolution," McGuire said on Channel Nine.

"That's what everyone wants. Everyone wants this to be resolved and to move forward with things, not to move away (from the issue), because that's the easy way.

"I am out of Collingwood now, but if I can help at all (I will try to contact them again). I would do anything possible to try and help everyone get to a position … our hearts break when we see these things."

Heretier Lumumba and Eddie McGuire embrace after a round two match in 2013 between Collingwood and Carlton at the MCG. Picture: Michael Willson

Lumumba said the trio were not satisfied the necessary steps are being taken by the Magpies.

"After 15 months of dialogue to address past incidents of racism at the Collingwood Football Club, Leon Davis, Andrew Krakouer and I have formally notified the club that we are officially terminating all communications with CFC," Lumumba posted on Twitter.

"Nothing has changed. It is our firm belief that the Collingwood Football Club has no intention of acting in good faith to achieve a just outcome for past players who have experienced racism at the Club."

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The move by Lumumba, Davis and Krakouer to sever ties with Collingwood comes one month after the club released a 12-month review of steps taken to address issues raised by the Do Better report.

The review noted the club had made "significant and genuine progress" on many of the 18 recommendations laid out.