Southampton, Jan 14 (AP) Southampton chairman Henrik Kraft has stepped down from his role with the relegation-threatened Premier League club and been replaced by majority shareholder Dragan Solak.

The club announced the changes on Tuesday and Solak said more were to come.

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“Whilst I am pleased with many aspects of the club's management, I am deeply disappointed with the football results this season," Solak said in a statement. “We will be strengthening our football management team in the near future, and we will share details of that as soon as things are confirmed.”

Southampton is bottom of the standings and last month fired manager Russell Martin after a 5-0 loss to Tottenham.

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Promoted last season, the club looks set to make a quick return to the second division after losing 16 of its 20 league games this term and winning just once.

Ivan Juric was hired as Martin's replacement last month.

“Our aim at the start of the season was to stay in the Premier League, and I know our fans share in my frustration at how this season has gone so far," said Solak. "I ask everyone to continue supporting the club with as much passion and dedication as they have shown all season as we navigate the rest of the season together.”

Solak is listed by Southampton as the club's ultimate beneficial owner.

He is the lead investor in Sport Republic, which has majority ownership of St Mary's Football Group Ltd, which owns Southampton.

Solak thanked Kraft for his “dedication and passion” and Southampton said he remained a shareholder and on the board of Sport Republic. (AP) AM

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)