Bailey said the duo, who both debuted in 2000, highlighted just how quickly an AFL career can wind up.
"He's very passionate about the club, Paul Wheatley. Matty Whelan is not a guy who says much, but Paul Wheatley spoke really well," Bailey said.
"All of a sudden the reality hits home with them and I think a few of our guys sat there and said: 'Maybe what I've got is actually pretty good and I don't want to give up on it as well. I want to make the most of what I've got'," he said.
Bailey also spoke about Russell Robertson's game following Melbourne's 63-point win over Fremantle at the MCG on Sunday. The out-of-contract Robertson booted three goals upon his return.
"I thought he was OK today. To kick three is a pretty good effort to come back from having two weeks off," he said.
"Russell has got to make a decision on what he wants to do. When he's good and ready, he'll come out and let everyone know what his intentions are, which is important for Russell to make the first step to give everyone the direction that he intends to go."
Meanwhile, Bailey was delighted to see president Jim Stynes, who is battling a serious illness, return from a restful holiday in Thailand.
"He's had a good time overseas and he's relaxed and we caught up before the game, so it's just nice to see Jim back," he saod.
"He was hoping we'd do pretty well today Jimmy, so he gives a lift when he comes in and hopefully he'll be around the club. He'll probably be down doing weights at some stage during the week Jimmy, knowing him … and he'll get told to slow down again.
"It's good to see him smile – there's no doubt about that."
