Collingwood president Eddie McGuire has indicated the once "grand canyon-sized" rift between him and his premiership coach Mick Malthouse has been repaired somewhat after his company hired Malthouse as the coach for the Foxtel program The Recruit.

McGuire and Malthouse have already spent an hour together as part of a group discussion for the reality show in which Malthouse will be the coach who presides over the selection of one player to be drafted by an AFL club.

Rift 'repaired somewhat': Eddie McGuire and Mick Malthouse. Credit:Paul Rovere

McGuire said the meeting generated more warmth between the pair and he believed he and Malthouse – who fell out over the handover to current coach Nathan Buckley after 2011 – had "moved to a new level" in their relationship.

"There was a grand canyon-sized schism there, a lot of pain was felt on both sides," said McGuire on Tuesday.