Queens Park Rangers manager Jimmy Floyd Hasselbaink has issued a statement strongly denying any accusations of wrongdoing after he was named by The Telegraph as part of their investigation into corruption into football.

Footage released by the newspaper appears to show the Hoops boss negotiating a fee to represent a fictitious Far East firm interested in getting into the football transfer business.

"I have today, through my lawyers, responded in full to the accusations levelled against me by The Telegraph," said Hasselbaink in his statement.

"I was approached by Mr McGarvey and Ms Newell of The Telegraph purporting to be players' agents. They offered me a fee to make a speech in Singapore. I do not see anything unusual in being offered to be paid to make a speech. I did not make any promises in return.

"I did not ask QPR to purchase any of the players who were said to be managed by Mr McGarvey and Ms Newell and did not and would not recommend the purchase of a player for my personal gain. I deny any accusations of wrongdoing on my part."

QPR have also issued a statement following the allegations confirming that they have launched an investigation.

"First and foremost, the club takes very seriously any alleged breach of the rules," it read. "With this in mind, the club can confirm that there will be a thorough internal investigation regarding this matter.

"However, we have every confidence in our manager and the robust systems and processes the club has in place.

"The club will be making no further comment at this time."

The fresh allegations come a day after England manager Sam Allardyce was relieved from his post following the release of secret footage by the newspaper.