Portsmouth FC trio face tax evasion charges

High-flying Tottenham Hotspur manager Harry Redknapp is to be charged with tax evasion in the new year, along with his former boss at Portsmouth Football Club, Milan Mandaric.

The charges are the end result of a two-year long investigation into football corruption. In November 2007, police raided the homes of the club’s leading executives at the time - team manager Harry Redknapp, chairman Mandaric and club chief executive Peter Storrie. Redknapp has since moved on to Tottenham and Mandaric is now chairman of Leicester City FC. Storrie remains at Portsmouth, now struggling at the bottom of the Premier League.

While the footballing authorities have been unable to finger any wrongdoers, HMRC brought tax evasion charges against Storrie this November. The case alleges that the club failed to pay tax and National Insurance Contributions in 2003 on transferred defender Amdy Faye’s £250,000 signing-on fee. It is scheduled to be heard at Southwark Crown Court in the New Year.

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...and the club is bankrupt

Anonymous | | Permalink
John Stokdyk's picture

More football news

John Stokdyk | | Permalink

Football-related stories appear to be piling up like abandoned fixtures this week, which may support the theory that HMRC sees the industry as an attractive target for generating revenue and stamping out abuses. In Any Answers an anonymous member has reported reading an article suggesting that Manchester United is being investigated for abuses of players' image right contracts and payments. If United's case fails, the club could lose up to £5.3m, our informant says (someone else has commented to clarify some of the detail of the original report).

In other news, Barnsley FC chairman Patrick Cryne is one of four former iSoft directors charged by the FSA with conspiracy to make misleading statements. The case has been scheduled for Westminster Magistrate's Court on 29 Jan.

We will keep our ears to the ground on the AccountingWEB.co.uk news desk and there is a long and illuminating thread on the subject in our Money Laundering and Crime discussion group.

Tottenham Hotspur Tickets

Maroussia | | Permalink

It will be great to watch Tottenham Hotspur, i have bought tickets, looking forward to it.