Court told of bonus demand over Peter Crouch

 

The trial of Harry Redknapp has already claimed one victim: the gangly England striker Peter Crouch. Mr Redknapp had stuck up for the player, a court heard yesterday, in a dispute with their former chairman, who considered the forward "useless".

Mr Redknapp put pressure on former Portsmouth chairman Milan Mandaric to pay him a bonus above the one stipulated in his contract, having claimed that he had proved him wrong over the merits of signing Crouch, the court heard.

Mr Redknapp, the Tottenham Hotspur manager, who is on trial for tax evasion, was eventually persuaded by Mr Mandaric, chairman of Portsmouth at the time, to travel to Monaco to set up an offshore account in April 2002. The account was the basis for an investment financed by Mr Mandaric that would compensate Mr Redknapp.

As director of football at Portsmouth, Mr Redknapp had a contract that entitled him to 10 per cent of profits on players he bought and then sold. On becoming manager of the club in March 2002, that fell to 5 per cent, but when Crouch was sold to Aston Villa days later for £4.5m, Mr Redknapp complained to Mr Mandaric. In an interview with City of London police in June 2009, read out in court, Mr Redknapp said: "I was adamant I was owed the money."

Later in the interview, Mr Redknapp said: "I felt I was entitled to 10 per cent but Milan didn't think so and nor did Peter [Storrie, then Portsmouth chief executive]. I had a bonus and I still referred to it as 'the Peter Crouch bonus'. I said, 'I had insisted on [signing] Peter Crouch, I pushed for Peter Crouch. You owe me 10 per cent.' Milan said, 'I won't let you down, I will sort you out. I will make some profit on an investment.'"

The court heard that when Mr Redknapp became Portsmouth manager, his salary increased from £300,000 to £500,000 and that bonuses could earn him up to £700,000.

Mr Mandaric said in a letter from his accountants to Mr Redknapp's solicitors in July 2009 that even after Mr Redknapp was paid £115,473 – the 5 per cent bonus – in his wages in April 2002, he was "still complaining". Mr Mandaric said in the letter that instead of paying Mr Redknapp more, he decided to make an investment on his behalf, the court heard.

Once Mr Redknapp had set up the account in Monaco, Mr Mandaric deposited $145,000 (£93,000). Subsequently $100,000 of that was invested in a project that made a loss.

To make amends, the court heard, Mr Mandaric transferred a further $150,000 of his own money into the Monaco account. In his letter to Mr Redknapp's solicitor, read out in court, he said: "Although it was Harry's investment that he lost money on I wanted it to be successful. I also did not want to look a loser in Harry's eyes." The case continues.

Start your day with The Independent, sign up for daily news emails
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Day In a Page

Arsenal vs Chelsea: Praise to Arsene Wenger for having the courage of his convictions

Michael Calvin's Last Word

Praise to Wenger for having the courage of his convictions
Major medical journal Lancet under attack for 'extremist hate propaganda' over its coverage of the Israeli-Palestinian conflict

Lancet accused of 'anti-Israel hate propaganda' over coverage of Gaza conflict

Threat to free speech as publishers of renowned medical journal are accused of inciting hatred and violence
General Election 2015: Tories and Lib Dems throw their star names west to grab votes

All noisy on the Lib Dems' western front

The party has deployed its big guns in Cornwall to save its seats there. Simon Usborne heads to the heart of the battle
How Etsy became a crafty little earner: The online market has been floated for £1.2bn, but can craft and capitalism coexist?

How Etsy became a crafty little earner

The online market has been floated for £1.2bn, but can craft and capitalism coexist?
Guy Ritchie is the latest filmmaker to tackle King Arthur - one of our most versatile heroes

King Arthur is inspiring Guy Ritchie

Raluca Radulescu explains why his many permutations - from folk hero to chick-lit hunk - never cease to fascinate
Apple Watch: Will it live up to expectations for the man or woman on the street?

Apple Watch: Will it live up to expectations?

The Apple Watch has apparently sold millions even before its launch tomorrow
Don't fear the artichoke: it's a good cook's staple, with more choice than you'd think

Don't fear the artichoke

Artichokes are scary - they've got spikes and hairy bits, and British cooks tend to give them a wide berth. But they're an essential and delicious part of Italian cuisine
11 best men's socks

11 best men's socks

Make a statement with your accessories, starting from the bottom up
Paul Scholes column: Eden Hazard would be my Player of the Year – but I wonder if he has that appetite for goals of Messi or Ronaldo

Paul Scholes column

Hazard would be my Player of the Year – but I wonder if he has that appetite for goals of Messi or Ronaldo
Frank Warren: Tyson Fury will be closely watching Wladimir Klitschko... when he wins it'll be time to do a deal

Frank Warren's Ringside

Tyson Fury will be closely watching Wladimir Klitschko... when he wins it'll be time to do a deal
London Marathon 2015: Kenya's brothers in arms Wilson Kipsang and Dennis Kimetto ready to take on world

Kenya's brothers in arms take on world

Last year Wilson Kipsang had his marathon record taken off him by training partner and friend Dennis Kimetto. They talk about facing off in the London Marathon
Natalie Bennett interview: I've lost track of the last time I saw my Dad but it's not because I refuse to fly

Natalie Bennett interview: I've lost track of the last time I saw my Dad

Green leader prefers to stay clear of her 'painful' family memories but is more open about 'utterly unreasonable' personal attacks
Syria conflict: Khorasan return with a fresh influx of fighters awaiting the order to start 'shooting the birds'

Khorasan is back in Syria

America said these al-Qaeda militants were bombed out of the country last year - but Kim Sengupta hears a different story
General Election 2015: Is William Cash the man to woo Warwickshire North for Ukip?

On the campaign trail with Ukip

Is William Cash the man to woo Warwickshire North?
Four rival Robin Hood movies get Hollywood go-head - and Friar Tuck will become a superhero

Expect a rush on men's tights

Studios line up four Robin Hoods productions