John Russell: "People are automatically against us now"

Mr Russell, his wife and vice-chairman Mike Lewis have been bailed after being arrested on Wednesday over allegations of financial irregularities at the club.

The club were relegated from the Football League to the Nationwide Conference this season, with reported debts of �2m.

Former Scarborough chief Mr Russell, who was back at the club's ground, St James' Park, on Thursday, said the whole episode made him reluctant to continue.

He said: "I have got to think about my family and what they are going through and they need my support.

"What option do I have? My credibility is gone. I feel that people are automatically against us now."

'Unblemished record'

Officers from the Devon and Cornwall Police fraud squad searched a number of private addresses and Exeter City FC, as well as an address in Swansea.

The three were questioned at Heavitree Road police station in Exeter, but have now been bailed, and are required to report back to the police in September.

Vice chairman Mr Lewis, who took over Exeter City with Mr Russell at the end of the 2001-2002 season, said he had nothing to hide.

He said: "I have been in football for 28 years and I have an unblemished record.

"I gave the police free access to my flat in Exeter.

"They have made no specific allegations to me."

Former Swansea boss Mr Lewis said he had considered throwing in the towel and walking away from the club.

But he said he would take a short break before returning to his desk next Monday to continue the fight to save the club.