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Grand final: 15.14 (104) d Hawthorn 9.17 (71) · M.C.G.
| # | Club | W–L–D | P | W | L | D | % | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1 | CarltonCarlton | 18–4–0 | 22 | 18 | 4 | 0 | 138.0 | 72 | |
| 2 | HawthornHawthorn | 17–5–0 | 22 | 17 | 5 | 0 | 147.1 | 68 | |
| 3 | Sydney SwansSydney | 15–7–0 | 22 | 15 | 7 | 0 | 129.5 | 60 | |
| 4 | North MelbourneNorth | 13–8–1 | 22 | 13 | 8 | 1 | 99.4 | 54 | |
| 5 | MelbourneMelbourne | 12–10–0 | 22 | 12 | 10 | 0 | 108.0 | 48 | |
| 6 | Geelong CatsGeelong | 11–10–1 | 22 | 11 | 10 | 1 | 100.3 | 46 | |
| 7 | FootscrayFootscray | 11–10–1 | 22 | 11 | 10 | 1 | 95.7 | 46 | |
| 8 | West Coast EaglesWest Coast | 11–11–0 | 22 | 11 | 11 | 0 | 97.9 | 44 | |
| 9 | EssendonEssendon | 9–12–1 | 22 | 9 | 12 | 1 | 89.5 | 38 | |
| 10 | St KildaSt Kilda | 9–13–0 | 22 | 9 | 13 | 0 | 90.8 | 36 | |
| 11 | FitzroyFitzroy | 8–14–0 | 22 | 8 | 14 | 0 | 91.5 | 32 | |
| 12 | CollingwoodCollingwood | 7–15–0 | 22 | 7 | 15 | 0 | 76.4 | 28 | |
| 13 | Brisbane BearsBrisbane Bears | 6–16–0 | 22 | 6 | 16 | 0 | 79.3 | 24 | |
| 14 | RichmondRichmond | 5–17–0 | 22 | 5 | 17 | 0 | 82.5 | 20 |
Carlton won the 1987 premiership, beating Hawthorn in the grand final, 15.14 (104) to 9.17 (71) at M.C.G..
Carlton were minor premiers with 18 wins from 22 games.
Richmond finished last with 5 wins.
Results before 2001 come from Squiggle (squiggle.com.au); match files with player stats start in 2001.