Former Southampton manager Graeme Souness has scotched reports linking him with a bid for the cash-strapped Championship club.

The Scot, who guided Saints clear of relegation from the Premier League in 1997, insists rumours he is part of a consortium ready to make an offer for the club are wide of the mark.

"I don't know where that has come from and it is not true," he told the Southern Daily Echo.

Saints chairman Leon Crouch has actively been chasing investment over the past few months and has confirmed he is in talks with an interested party.

Crouch wants the investment in place before Friday's EGM, at which he is expected to be removed from the St Mary's boardroom by former chairmen Rupert Lowe and Michael Wilde.

TEAMtalk / Eurosport