On 24 May 2013, during a match at the MCG, a 13-year-old Collingwood fan racially vilified Sydney Swans player Adam Goodes by referring to him as an "ape", following which McGuire apologised to Goodes "on behalf of the Collingwood Football Club and on behalf of football". McGuire said that Collingwood had a zero-tolerance policy towards racism, but also said that the girl did not know that what she had said was a racist slur.
However, on 29 May 2013, McGuire himself made an on-air reference to Adam Goodes and King Kong. He apologised on air after making the reference, but prefaced his apology by stating "I wasn't racially vilifying anyone." McGuire's comment was widely criticised. He also held a press conference in which he apologised again. In a later interview that day, he admitted he was guilty of racial vilification. He also offered his resignation as Collingwood President, but the Collingwood board expressed their support for him.
On 17 May 2013, RMIT University awarded McGuire an honorary doctorate, making him a Doctor of Communications honoris causa. The honour recognises McGuire's achievements in media, entertainment, sport and community-based activities.