Birmingham City co-owner David Sullivan admits he was "shocked" by the police's actions after he was arrested this week over an alleged corruption inquiry.
Speaking from his office at home in Theydon Bois in Essex this afternoon, Mr Sullivan said: "I'm shocked by the whole thing.
"The police statement was very unfair. It is to do with two foreign players and the PAYE on those players. This is a complicated tax matter.''
He added: "We answered every single question they put to us. We have absolutely nothing to hide. We have done nothing wrong, and we think in due course this will be proven.''