Geelong president Colin Carter has broken ranks with other AFL presidents, saying the league's new equalisation measures favour rich clubs.

The AFL announced its new "competitive balance policy" last month on Andrew Demetriou's final day as chief executive.

It includes a "luxury tax" on clubs who spend up big on their football departments, enhanced revenue sharing and the end of the cost of living allowance.

But Carter on Wednesday took aim at Collingwood president Eddie McGuire and Hawthorn president Andrew Newbold, saying the Magpies' boss scuttled any hope of finding a fair formula.

"The taxation has been hopelessly compromised because Eddie refused to pay it," Carter told Fairfax Media.

"Eddie and Andrew started screaming about the game taking away their hard-earned and they succeeded in getting a deal which weakens the position of the middle clubs against the wealthy."

Carter said a decision to cap revenue from the Magpies, who boasted a $5.2 million profit last season, at $500,000 was a joke and screwed Geelong.

"The philosophy is wrong. What we are doing is just screwing the middle class while the rich are able to get their affairs in order which is what happens in real life.

"To take $300,000 from (Geelong) and $500,000 from Collingwood actually weakens our position against Collingwood."

On the day of its release, AFL chief executive Gillon McLachlan said McGuire had "prosecuted Collingwood's position strongly".

"Eddie is well known to be passionate," he said.

"He protects Collingwood's interests as a priority ... but Eddie is also keeping an eye out for the game and the industry."

"He brought that approach to this."