AFL legend Mark 'Bomber' Thompson has been arrested as part of an investigation into drug trafficking, but the premiership coach has been released without charge.

In a short statement issued on Tuesday afternoon, police confirmed a 54-year-old from Port Melbourne was arrested and released earlier that day, "pending further enquiries".

Thompson's Port Melbourne renovated warehouse was raided at 9.30am last Friday.

It can be revealed that two men allegedly involved in the drug trafficking operation that resulted in a police raid at Thompson's home have links to outlaw bikie gangs.