Spurs had a £4 million offer rejected by Southampton who demanded £10 million for the player. With Saints refusing to negotiate on that price, we withdrew our interest.
However, the Southampton official website subsequently reported that “we were unable to meet the asking price set” and this has been picked up by the media.
Said Glenn Hoddle: “We certainly rate Dean Richards but with the £10 million Southampton put on his head, and the fact that they refused to be flexible, the deal was going nowhere.
“I can honestly say that no deal has collapsed because the club was unwilling to spend the money but both the player and the price have to be deemed right. It is a question of valuation.
“I have been fully supported by the Board here in all my transfer targets and since the summer we have already brought in five senior internationals.”
Glenn Hoddle has dismissed claims that the club cannot afford to buy Southampton centre-half Dean Richards.