Harry Redknapp has denied any wrongdoing despite being arrested as part of a police investigation into corruption in football.

The Portsmouth manager gave a statement at the club's training ground today in which he said police wanted to speak him only about an alleged payment from an agent to a player.

He added that nobody at Portsmouth had broken the rules and that the club had fully co-operated with the police during the biggest criminal inquiry into British football.

"They wanted to speak to me about an agent who had been paid the agent's fee for a transfer and had paid some of the money to the player," said Redknapp. "That was the whole top and bottom of it. What the agent does with a player has nothing to do with me. I'm not involved with who gets a fee and who doesn't."

Redknapp was one of five men arrested by the City of London Police yesterday on suspicion of conspiracy to defraud and false accounting.

The others were Peter Storrie, the Portsmouth chief executive, Milan Mandaric, the club's former chairman, Willie McKay, a high-profile agent, and Amdy Faye, the former Portsmouth midfield player. There is no evidence that McKay or Faye broke the law.

"This club is totally transparent," Redknapp added. "We have fully co-operated with the police in their enquiries. You couldn't meet a more honest person than Peter Storrie."

Redknapp discovered that police had arrived to his house at 6am yesterday while he was travelling back from Germany, where he watched Stuggart play Rangers in the Champions League on Tuesday evening. He said the police were accompanied by photographers from a national tabloid newspaper and removed a computer after searching his home.

"I arrived at Heathrow to find hysterical messages from wife saying the police had searched the house." he said. "They took a computer away, which I bought for my wife a couple of years ago. She had only just learned how to turn it on. There was nothing on it.

"I then got a message to go to Chichester police station, where I spent the best part of the day. I wondered what I was doing there - it was nothing to do with me.

"I was bitterly disappointed that police came in at six in the morning with photographers from a well-known newspaper. There was no need for this to be put in the public domain.

"Why come round my house at that time when all they need to do is call and I'll go round? I feel I was called into this only because I am high-profile."

Last night police would say only that men aged 69, 60, 55, and 48 - Mandaric, Redknapp, Storrie and McKay - had been released on bail and that a 30-year-old - thought to be Faye - was still in custody.