Hawthorn are in the midst of negotiations with the AFL to stop any league sanctions over the club's handling of the Binmada Report.
Current president Andy Gowers said the Hawks would be "extremely disappointed" if the AFL punished the club, while his predecessor Jeff Kennett wrote to the AFL commission over the issue.
When AFL chief executive Gillon McLachlan announced on Tuesday night the inquiry into racism claims at Hawthorn was ending, he added the league was considering its options with regard to the Hawks.
McLachlan said the way Hawthorn handled the process when initial allegations were made put many parties involved in a "hugely vulnerable situation".
But Gowers said on Wednesday the club had played "by the book" by handing the Binmada Report to the AFL integrity unit.
Hawthorn handed over the report without speaking to then coach Alastair Clarkson, Chris Fagan and Jason Burt first about the accusations made against them.
But before those claims could be taken further, the bombshell allegations were leaked to the media last September.
Kennett questioned "on what basis" the Hawks could be charged by the AFL.
Kennett said he had written to the AFL Commission asking them to finalise the process "very quickly", saying he feared it could continue for an additional eight months.
"We did what we had to do," Kennett told 3AW on Wednesday.
"We got a complaint, we set in place a process to hear the stories from our Indigenous people.
"Once we got the report we realised what was contained in it, we gave it to integrity.
"That is not acting against the interests of the AFL, that's acting in the interest."
Gowers held a media conference on Wednesday morning, reiterating the club welcomed the AFL's decision to end the inquiry.
Asked about the potential for AFL sanctions against Hawthorn, he said there were "a number of discussions" ongoing with the league.
"Of course we'd be extremely disappointed if this matter led to sanctions, including financial, but what I would say is we went into this process with the best of intentions. I don't think anybody is questioning that," he said.
"We will be in what I would describe as very close communication with the AFL. And we'll work through it."
Gowers repeatedly said the leaking of the report, not Hawthorn's actions, was the biggest factor in the drawn out saga.
"The leak to the media was very unfortunate. That's putting it mildly," he said.
The Hawks president added he was unaware of who leaked the report, adding there is no evidence it came from the club.
Gowers was asked about the complainants possibly taking legal action against Hawthorn.
"That may happen," he said.
"So what we would love to happen and what I personally would love to see happen is an opportunity for the families and our staff and our coaches to have an opportunity to be listened to to be heard. And that hopefully will provide an opportunity for healing as well ... that's part of the melting pot."
The AFL issued an apology on Tuesday night and Gowers did not rule out Hawthorn doing the same.
"We look forward to an ongoing dialogue with all parties and what I'm here to do today is not rule anything in or rule anything out. We're completely open to what the landscape looks like from here," he said.
