Speaking at the Jack Dyer medal for Richmond's best and fairest at Crown's Palladium ballroom on Monday evening, the premiership skipper said a conversation with his wife, Brooke, at the end of 2016, resulted on them agreeing to an approach to his future as captain, should the club's fortunes not turn.

"I remember sitting with my wife after last year and telling her 'I'll give this captaincy thing one more year, and if it doesn't go well, if we bomb out again, or we don't get it right we are going to see if someone else can do the job.

"Funny how fickle life can be. Funny also how your whole life can change on a dime, just by changing your perspective."

Richmond finished the 2016 season thirteenth on the ladder after making the finals for three consecutive years in a row. This launched the club into turmoil, with media, fans and even a group of Tigers' business people threatening to spill the board and possible dump coach Damien Hardwick.

That never eventuated and Richmond stand as premiers at the end of 2017. No club has ever won the premiership after finishing so low the season before.

Cotchin said the heartache of 2016 was just what the group needed to propel it to break the club's 37-year premiership drought in 2017.

"In some ways 2016 might have just been a blessing dressed up as a nightmare in disguise. As it gave us an opportunity to truly reflect on ourselves and work out what it was we really wanted and then really challenge how we were thinking.

"There's an old expression that fisherman use that goes 'sometimes you have to let the tide go out to see where the rocks are'. I think it's a great analogy to sum up 2016."

Damien Hardwick joked at the beginning of his speech that he and his wife would have to make room in bed sleep with the premiership cup because he loved it so much. He lauded the group of players, which he described as like "nothing he'd ever seen before".

"They're bond was simply unbreakable, the belief unshakeable, and you enjoy that celebration tonight as premiership players," Hardwick said.

He also thanked the Richmond players who didn't take the field in the grand final.

"Football is a team game, and without the players who didn't play on the weekend, you wouldn't have driven those who did. You helped us enormously on this journey.

The night's most emotional moment came from David Astbury in his tribute to retiring ruckman Ivan Maric. The former Adelaide player came to Richmond from Adelaide in 2011 and is regarded as one of the key men in changing the culture for the better at Punt Road.

He announced his retirement during the 2017 season and played out the year in the VFL after 157 AFL games. He was Richmond's vice-captain in 2015 and 2016.

"I thank you from the bottom of my heart for all the support, advice and friendship and the time we have spent together," a teary Astbury said.

"Through adversity you have been the person I have turned to and I know I don't stand alone.

"People have been inspired by you, if I could have as much of an impact through my career oin the club as you had I will leave overwhelmingly happy and consider my career to be a huge success."

Maric, also visibly emotional, told the room that "football saved my life."

"I have been able to develop myself as a person in an environment where I received constant support and education in nearly all areas of life.

"No matter how much I have given to Adelaide and Richmond football clubs I honestly feel that I have received so much more in return."

In her speech Richmond president Peggy O'Neill listed the club's various achievements from it's premiership, to progress with indigenous football scholarships and even Connor Menadue's grand final sprint triumph. Each received a rousing ovation from the frenzied crowd packed into the Palladium.