Eric Black was secretly filmed allegedly claiming that officials at other clubs could be bribed for information about players.
Undercover reporters posing as representatives of a Far East investment firm met with Black and football agent Scott McGarvey , who reportedly set up the meeting.
Southampton confirmed in a statement that they will “work closely” with the Football Association and Premier League in order to learn the facts of the allegations, which were published by the newspaper on Friday.
The statement read: “The club immediately requested to be sent, by The Daily Telegraph, the details of this article, but the newspaper declined to share any further information.
“We have today contacted The FA and The Premier League, and intend to work closely with both bodies on this matter when the facts become clear.
“Southampton Football Club is fully committed to investigating any situation that directly or indirectly relates to our club, employees or the wider community.”
A spokesman for Black is quoted by Sky News as saying: “[Mr Black] does not recall Mr McGarvey making suggestions that football officials should be paid during transfer negotiations – this was not the purpose of the meeting so far as our client understood it. Any suggestion that he was complicit in such discussions is false.”
Queens Park Rangers manager Jimmy Floyd Hasselbaink and Leeds United owner Massimo Cellino have been implicated in separate allegations, while Tommy Wright was yesterday sacked as assistant manager of Barnsley after he was caught up in the sting.