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Mauricio Pochettino is set to quit as Southampton manager after the club went into meltdown.

Saints stars Luke Shaw, Adam Lallana and Rickie Lambert are up for grabs after a day of drama which saw executive chairman Nicola Cortese quit after being put under pressure to sell players.

Cortese walked after owner Katharina Liebherr signalled her intention to start cashing in on her family’s investment in the club.

Cortese’s last act before leaving was to persuade Pochettino to sleep on his decision following two hours of crisis talks at the stadium.

But the Argentine may still walk away in a show of solidarity with the man who brought him to the Premier League a year ago this weekend.

A Saints source said: “Mauricio is very angry and hurt by the departure of Nicola and is seriously considering his future. He said previously he could not see a Southampton without Nicola at the helm and has not changed that opinion.”

An ashen-faced Pochettino was driven away from the ground shortly before 7pm and the Saints promptly released a statement announcing Ms Liebherr was replacing Cortese herself, with immediate effect.

Pochettino refused to answer questions on whether he would stay or go when quizzed on his way to his car.

Defender Shaw - a target for Chelsea and for champions Manchester United - tweeted: “Gutted with that news, but would just like to thank Nicola Cortese for everything he has done for me and the club! All the best to him!”

(Image: Ian Walton)

It is a nightmare scenario for Saints and their fans, as Cortese had been fiercely protective of their young talents while leading the club back to the Premier League from League One.

It also means £25million-rated Shaw - who has repeatedly insisted he does not want to leave despite top-four interest - could now find himself sold anyway.

There are even fears that the Liebherr family could now be ready to sell the club at the right price.

They bought it for just £14m five years ago. Fulham was sold by Mohamed Al Fayed for £150m earlier this season.

A statement confirmed Cortese’s departure.

It said: “Southampton FC announces that club owner Katharina Liebherr has taken on the role of non-executive Chairman. This follows the resignation of Nicola Cortese. A search has begun for a Chief Executive Officer who will take over Mr Cortese’s executive duties.”

Liebherr added: “With great regret we have accepted the resignation of Mr Cortese. He has done a wonderful job at the club and we very much wanted him to stay.

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“A search has now begun for a successor. In the meantime, it is business as usual and we will ensure that the manager, the team and all the staff at the club have all the help and support they need.”

It is understood a meeting with the entire squad has been called for Thursday.

A number of players and agents were anxiously monitoring developments throughout the day as it became clear Cortese’s threat to walk was real.

Pochettino is scheduled to hold a press conference at 3pm Thursday ahead of Saturday’s game against Sunderland, but sources believe he will be gone by the end of the weekend.

That will throw the club, currently sitting ninth in the League, into chaos.

Jose Mourinho sees 18-year-old Shaw as the long-term replacement for England left-back Ashley Cole at Stamford Bridge, while United boss David Moyes is also a big fan.

Lallana, rated at around £15m, is another player whose future is uncertain.

A number of clubs are monitoring the situation involving ALL of Southampton’s top stars with just over two weeks left of the transfer window.

Jay Rodriguez, who made his England debut alongside club captain Lallana against Chile in November, could also be targeted.

West Ham are ready to make a second approach for striker Rickie Lambert, while Inter Milan are keen on £15m summer-buy Dani Osvaldo.

(Image: Michael Regan)

Southampton fans reacted furiously to the news chairman Cortese had quit.

Mike O’Callaghan, of the Southampton Independent Supporters’ Association, said: “It is a crying shame because Nicola Cortese did a great job running Southampton Football Club.

“We are now a forward-thinking modern club moving in the right direction. We’re setting the standards, half the team is English, and we’ve got new training facilities being built.”

Katharina is the daughter of Swiss engineering tycoon Markus Liebherr, who rescued Saints from going bust in 2009. He suffered a fatal heart attack a year later.

Angry Mike Martin said: “Markus would be turning in his grave if he could see what Katharina has done. He and Cortese saved the club and Nicola took us on to new heights.”

Fan Darren Wheeler added “Nicola Cortese has been the best signing Saints have made in the last 15 years, more so than the likes of Rickie Lambert.

“His boots are big ones to fill. I don’t want a media-friendly, cuddly sort of chairman like Dave Whelan who everyone likes. I want a chairman who is not afraid of making unpopular decisions. There was an outcry when both Alan Pardew and Nigel Adkins went, but Cortese was proved right on both occasions.”

Fellow supporter Tom Brent added: “Cortese made the right decisions and is the reason we are where we are now. I am gutted he has gone.”