SAINTS chief executive Jim Hone declared himself "surprised and disappointed" that the club had found no new investment at a meeting at St Mary's today.

Hone held a briefing for three local media outlets, including the Daily Echo, and representatives of the Saints Trust to answer questions and explain recent events.

Among the topics of conversation were the departure of Leon Crouch, how George Burley would be supported in the transfer market, the set-up of the club's boards and the search for new investment.

Hone expressed his regret that people who had promised to invest money in the club last summer had not followed their words with cash and insisted he and chairman Ken Dulieu were continuing to work hard to secure the financial future of the club.

Hone was bound by takeover panel rules when it came to discussing specific bids but would say he was "surprised and disappointed" new money was not already in place.

However, he is optimistic over the future of the club.

Hone also confirmed what the Daily Echo revealed on Saturday - that the club would not appoint a new football board chairman following the axing of Crouch.

For full details of the meeting don't miss tomorrow's Daily Echo