SYDNEY will hold a board meeting in the next 24 hours to make decisions regarding the immediate future of players involved in an alleged incident in Melbourne that is the subject of a police investigation.

Swans coach Dean Cox addressed the wider playing group at Swans HQ on Tuesday, but the players involved in the alleged incident were not present at the club.

Club officials are meeting with those players off-site to establish the facts surrounding the incident, with decisions regarding their immediate futures to be made at a board meeting either later on Tuesday or Wednesday morning.

Earlier, Cox made his first public statement since news of the police investigation came to light on Monday, saying he was "extremely disappointed".

"Obviously extremely disappointed with what's happened, and understand the questions and we'll update as we gather more information," Cox said.

When asked if sanctions should be expected, Cox added: "We're working our way through everything with the AFL and the relevant parties and we'll update when we get more information."

Asked if he had spoken to the players, Cox said: "We'll speak as the day unfolds."

Captain Callum Mills also spoke briefly to the waiting media at Moore Park as he and other players from both the men's and women's programs filtered into the club.

"I can't really comment. There's an investigation ongoing and we don't have the facts yet," Mills said.

"Once everything is sorted and the facts are understood, then we can comment."

More to come ...