Mick Malthouse's coaching contract has been extended for two seasons. He will then become become the director of coaching from 2011 for three years.

Buckley will be an assistant coach for the next two seasons, then take over as senior coach from 2011 for three years.

The announcement, made at the Lexus Centre by a beaming Eddie McGuire, ends months of conjecture about the intentions of Buckley, who was sought for the senior coaching position at North Melbourne.

Buckley was due to meet Richmond's director of football operations Craig Cameron today to discuss his candidacy for the vacant senior coaching position at Tigerland but cancelled the interview.

Buckley yesterday declined the North Melbourne senior coaching job after prolonged conjecture about his future.

Malthouse had reportedly been annoyed by the delay in his re-signing, and there has been speculation that two such strong-minded football figures could not work together, but after meeting nine days ago, it seems Collingwood, Buckley and Malthouse have reached agreement.

On SEN radio this morning, former Kangaroos premiership coach Denis Pagan said of the potential Buckley/Malthouse partnership: "I don't think I've ever seen two bulls work together in the same paddock."

Buckley was renowned for his uncompromising prefectionism as a player and captain, and Malthouse is also a stern taskmaster, used to being in command.

The resignations of senior coaches Dean Laidley at North Melbourne and Terry Wallace at Richmond during the season led to a carnival of speculation about Buckley's likely destination in 2010, especially since Malthouse was out of contract.