EDDIE McGuire has vowed Collingwood won't sign off on Rodney Eade's move to Gold Coast unless the Suns compensate the Magpies for their loss.

But Eade remains contracted as Collingwood football manager to the end of 2016 and McGuire told News Ltd the Magpies could have to pay a premium to replace Eade, which would then trigger further costs under the AFL's new football department tax.

"There will be no deal unless we are compensated. There is now a salary cap on administrations and I won't be paying overs for a replacement," McGuire said.

"My man has a three-year contract and he has been totally professional, and just as Peter Gordon's club had to dip into its pocket to get Ryan Griffen to GWS, so too someone will have to dip into their pocket to get our director of coaching.

"These are clubs screaming out that we needed a footy department cap and we are paying money to subsidise them and they are using that to take our people.

"My birthday present (on Wednesday) on the 16th anniversary of being president of Collingwood is a nice compensation cheque from Gold Coast – or the AFL, or anyone else who wants to sign one.

"Send it down to the Westpac Centre and I will send Rodney Eade back with a nice bow around him."

Port Adelaide made a similar compensation claim when St Kilda signed contracted Power coaching director Alan Richardson as its senior coach after last year's trade period.

Port initially claimed $150,000 from the Saints, but ultimately settled for about $20,000.

Power chief executive Keith Thomas told Fairfax Media McGuire's compensation claim had some merit.

"I believe there's a strong argument for it," Thomas said.

"When clubs act this late – it's after the trade period – you really are inconveniencing the other club."

Thomas said Port had paid Gold Coast $15,000 in compensation when it poached contracted Suns coaching staff member Shaun Hart to replace Richardson.

Gold Coast has yet to formally announce Eade's appointment as Guy McKenna's replacement, but is expected to do so later this week.