Essendon Chairman Paul Little has confirmed the club will meet early next week to determine a strategy moving forward after James Hird decided to file an appeal with the Federal Court.

Little said reports surrounding the future of Hird were all speculation.

“It has been a particularly hectic 48 hours for the Essendon Football Club,” Little said.

“There is quite a bit of speculation and uncertainty around James Hird’s decision to appeal the Federal Court case.”

“We can report to you that no decisions have been taken relating to James and the board intends to meet very early next week and approve a strategy going forward.”

“At this point in time everything else remains speculation so I would ask you to just be patient and wait until we can give you more factual detail.”

Little said it was important that everyone stayed calm and to ensure no rash decisions were made.

"I think the Essendon fans would rather have deliberation around this in a meaningful way rather than a knee-jerk reaction,” he said.

Little said the club would have preferred Hird not to pursue his legal action.

"He took the decision to do that and we're still talking to him about that decision."