Southampton chairman Leon Crouch has denied they're seeking cash upfront from Arsenal over Theo Walcott's transfer fee.

Saints have denied a report in a national newspaper that they are looking for an early cash settlement from Arsenal in a bid to stave off administration.

"What we can say is that Barclays continue to be supportive and we have a positive relationship with them," Crouch, restricted by Stock Exchange laws, told the club's website.

"Like all clubs we have an overdraft facility but we have certainly not exceeded our limit despite this kind of scaremongering which has many inaccuracies and which does the club no good at all."