Lowe on brink of Saints comeback

The controversial former Saints chairman was removed from the role in 2006, but he has now joined forces with his replacement Michael Wilde to reclaim power at St Mary's.

The unlikely alliance - Wilde was staunchly anti-Lowe when he mounted his own takeover almost two years ago - controls 46 per cent of the club's shares between them.

Crouch and directors Patrick Trant and Keith Wiseman have therefore resigned rather than face inevitable defeat in Friday's extraordinary general meeting. Chief executive Lee Hoos stood down on Tuesday.

Crouch said in a statement: "It is with great regret that I have to announce my resignation as chairman of Southampton Football Club.

"It is a decision I have taken very reluctantly but which has been forced upon me by Rupert Lowe and Michael Wilde, who requisitioned an EGM.

"Even though most fans do not want them back, the harsh fact is that they and a handful of allies would have had enough shares to guarantee victory."

Lowe's return will be met with suspicion among some quarters of Southampton's support, many of whom hold him responsible for the club's decline.

Lowe worked with nine permanent managers in his original 10-year tenure on the south coast, including three in their relegation season from the Premier League. He also took the unusual step of appointing rugby boss Clive Woodward as director of football.

On the flip side, Lowe took the unfashionable Saints to the 2003 FA Cup final, where they were beaten by Arsenal, and oversaw their move to the impressive 32,500-capacity St Mary's.

Southampton are now losing money at an alarming rate, with Crouch having failed to find outside investment despite talks with various interested parties, and they narrowly avoided relegation to League One on the final day of the season.

Nigel Pearson's job as manager could now come under threat despite masterminding those last-day heroics against Sheffield United.

But Crouch added: "With Nigel in charge, I do believe we have a great chance of a successful season. I sincerely hope he is allowed to stay because I know he is the right man for the job."

A statement to the Stock Exchange confirmed that Lowe, Wilde and former managing director Andrew Cowen had been appointed directors of Southampton Leisure Holdings plc, the club's parent company.

Saints said that they will make a further announcement regarding the changes at board level in due course.