Cissé was held on Tuesday morning along with three other people on suspicion of attempting to blackmail Lyon player Valbuena using a sex tape.
The existence of any x-rated video involving Valbuena and his partner, however, has not actually been confirmed.
After being released on Tuesday Cissé, the former Liverpool, Sunderland, QPR and Marseille player, immediately tried to clear his name by taking to live TV.
He spoke to presenter Cyril Hanouna, a friend of Cissé’s, at the end of the show “Hands of My Post” on Tuesday night.
“Of course I have nothing to do with it,” Cissé insisted. “Mathieu is a friend and I just warned him that there was something hot going on involving him. That’s it. End of Story.”
After the presenter joked that he was bored at the weekend and would enjoy watching any videos Cissé had, the footballer, clearly upset and stressed replied: “It’s not funny”.
“This is something that can be really bad for me and for him,” he said. “The police came to me to hear my part of the story.
“I have never conned anyone. Mathieu is a friend. When we were at Marseille I would take him to training,” Cissé said.
(Mathieu Valbuena and Djibril Cissé celebrate scoring while at Marseille. Photo: AFP)
“There’s no scam. I just warned him to be careful. He filed a complaint. My name came up and the police spoke to me, that’s all.”
Lawyers for Valbuena, 31, told AFP they would not comment while the investigation was under way.
Cissé himself made a complaint to police in 2008 after claiming he was the target of a blackmail attempt involving a sex tape while he was playing for Marseille.
The flamboyant Cisse is currently appearing as a contestant on France's version of 'Strictly Come Dancing', 'Danse avec les stars'.
There have been questions whether Cissé will now be thrown off the show, but he insisted he would be in training at 8.30 on Wednesday morning.
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