The 60-year-old hit out at City of London Police for raiding his home, which he said was only to "raise the profile" of their investigation.

He said: "I still feel I was only called in because I have a high profile, I add a bit of a profile to the investigation. This has nothing whatsoever to do with me. What an agent does with his player has nothing to do with me."

Mr Redknapp said that he called the press conference at the club's training ground in Eastleigh, Hants, to clarify the chain of events surrounding his arrest on Wednesday.

He said he had gone to Germany on Tuesday to watch a match between Stuttgart and Rangers and when he returned on Wednesday he received a message from his wife saying their house had been raided by police.

"I had my wife on the phone leaving hysterical messages that the police had been round at 6am accompanied by photographers of a well-known newspaper," said Mr Redknapp.

"They also raided Peter Storrie and Milan Mandaric. They took a computer away from my house which I bought my wife two years ago. I then got a message to report to Chichester Police Station where I spent a good part of the day.

"The whole crux of the meeting was the fact that an agent had been paid an agent's fee and had paid some of the money to the player. That was the top and bottom of the issue, the player and the football agent.

"I had a meeting today with the players and the staff because I wanted to be completely open with them. This is exactly what it was all about."

Mr Redknapp went on to say he could not understand why he had been arrested. He said: "I was wondering what I was doing there, I'm not involved in what an agent and a player does. I'm not involved."