Collingwood president Eddie McGuire has apologised for his comments about drowning Fairfax journalist Caroline Wilson.

Key points: McGuire says he didn't consider his remarks sexist

McGuire says he didn't consider his remarks sexist Remarks shouldn't be considered "playful banter", Wilson says

Remarks shouldn't be considered "playful banter", Wilson says McGuire was unhappy about Wilson's column suggesting he consider his successor as Collingwood president

The AFL contacted McGuire over a radio conversation in which he offered money if Wilson went down the slide at the Big Freeze at the MCG, joking about offering more if she stayed under the water.

The Big Freeze started in 2015 as a fundraiser for motor neurone disease and features a number of AFL personalities sliding into a pool filled with ice water.

McGuire started talking about AFL chief executive Gillon McLachlan taking the plunge next year before pivoting to talk about Wilson.

On Monday, McGuire said on Triple M the remarks were only banter and he had no intention to offend.

"[I'm] really disappointed that these comments have led to these feelings from people," he said.

"I apologise and retract them in the spirit of what we're trying to achieve, which is to look after women and children in our community."

His apology and retraction came after he initially said the comments were made "in the spirit of the fun on the day and who would be next going down the slide".

Sorry, this video has expired Eddie McGuire's 'banter' about journalist Caroline Wilson.

"That was clearly banter, but on White Ribbon weekend we have to be vigilant about stamping out domestic violence," he said.

McGuire said he "didn't see it as being in any way shape or form sexist", but reiterated he did not want to be seen as being flippant about domestic violence.

"Anything at all that can be perceived to promulgate or support, even in a light-hearted manner, domestic violence is unacceptable," he said.

McGuire said reports he had been offered an ultimatum regarding his tenure as Collingwood president were not true.

I don't accept that it was playful banter: Wilson

The offending conversation occurred last Monday but McGuire said he only caught wind of any controversy on Sunday. The comments re-emerged after a blog post by Sydney writer Erin Riley.

"I'll put in 10 grand straight away, make it 20. And if she stays under, 50. What do you reckon guys?" McGuire said to North Melbourne president James Brayshaw and Danny Frawley.

Brayshaw suggested such an act would see "money piling in everywhere", while Frawley said he would "actually jump in and make sure she doesn't [come up]".

Caroline Wilson was named Australian journalist of the year for her reporting on the Essendon/ASADA saga. ( ABC )

Wilson said she was made aware of the comments the day they occurred and believed they may have stemmed from a column she wrote suggesting McGuire should think about a succession plan for the Collingwood presidency, about which "he was clearly very unhappy".

"We've jousted in the past many times and and on this one ... I do think he probably crossed the line and I didn't like the language and I think it's such a pity that they needed to default to that really vicious language," she told Breakfast with Ross and John on 3AW.

The 2013 Australian journalist of the year for her reporting on the Essendon-ASADA saga said it was troubling that it took almost a week for people to speak out about the conversation and she did not accept it was "playful banter".

"The people listening at the time thought it was OK. I mean, this is ... it's like casual racism," she said.

"Casual violent language might be meant as a joke but ... I wonder how many times we have to draw this line in the sand between this sort of language and what is a joke and what is obviously completely unacceptable."

I do take it back: Frawley

Frawley apologised on Fox Footy on Sunday night and did so again on Monday, saying his part in the conversation was "inappropriate" and "unacceptable".

The former St Kilda star said he had reached out to Wilson and left what Wilson called "a very apologetic message".

"A lot of people have been affected by it and none more than Caroline Wilson," he said.

"I do take it back. It was in jest but when you read it in isolation it doesn't look good."

Brayshaw too offered his apologies for his comments.

"Things were said that were both inappropriate and unacceptable, and for that I offer my sincere, unreserved and unqualified apologies," Brayshaw said.

"Respect for women and their role in football, and indeed in our society, is of vital importance and as leaders we need to be very, very aware of this.

"We let ourselves down during the broadcast in this crucial area last week."