Harry Redknapp 'lost £250,000 aiding friend'

 

Harry Redknapp told police his home was at risk after he lost millions of pounds in disastrous investments, a court heard today.

The Tottenham manager urged detectives to ask his solicitor if he had "ever come across anyone as bad, businesswise".

He said he lost £6million in a property venture in Southsea, Hampshire, and had squandered £250,000 to help his friend, Jim Smith, keep his managerial job at Oxford United.

Redknapp - tipped as a future England boss - also said he had paid £1million in tax in 2008, before adding: "We are givers not takers."

During interviews with City of London police, Redknapp said: "I am not a tax fiddler, I am not any kind of tax fiddler, never have been in my life."

In transcripts read out at Southwark Crown Court, Redknapp said he had paid £8.5million on property in Southsea.

He said he had a chance to share the investment with a Samir Khan, described as a business associate of former England goalkeeper David James.

Redknapp told officers: "I've signed a form that says he's half in, and he ain't put no money in, and I've signed the forms now, you can ask my solicitor in Bournemouth, and they can't believe that I didn't read anything.

"I thought he said 'I'll meet you half way, I'll put half in what you put in'.

"He put half in what I put in up to that point and my own money was about two hundred grand, now he's in for nothing and he has half the profit.

"The only downside is it's only worth four million pound now and I've done like six million you know, my house is up against it but that's where I'm at, that's how useless I am with things, and you can check with my solicitor if you like.

"I'll give you my solicitor's name, you ask him if he's ever come across anyone as bad businesswise as I am.

"Unfortunately I live my life like that."

Redknapp claimed he wrote the Monaco account at the heart of a £189,000 bung allegation "completely out of my life".

Redknapp also told officers: "I have brought up a fantastic family."

He said: "To try and nick a few quid off the income tax... why? I am not into that. I don't need that. I would rather give you a hundred grand than nick a few quid off you.

"That's how I live. I have got a golf day tomorrow... I give 15,000 tomorrow to Leukaemia Busters."

The soccer boss added: "We are givers, not takers."

In an interview recording of City of London police interviews, Redknapp said Mr Smith had asked him over the phone for the Oxford United cash.

Mr Smith is said to have told Redknapp "some mega-rich young boy" - Nick Merry, who used to play for Oxford - had come over and was "about to buy the club".

But he only had 48 hours to complete the deal and could not get the £250,000 he needed in time so Mr Smith asked Redknapp if he could lend him the money.

Redknapp said: "I said, 'Jim, what's it got to do with me?'. He said, 'Harry... it'll help me, I'm the manager. If he buys it I've got a job still'.

"I lend him £250,000, I ring up the bank and said, 'Look, I said, Jim's said you've got the money in five days, Harry. You've got my word' - that's 20 months ago and the guy didn't buy the club and that's that's how I am.

"I can tell you 10 stories like that."

Both Redknapp, 64, of Poole, Dorset, and Milan Mandaric, from Oadby, Leicestershire, deny two counts of cheating the public revenue when Redknapp was manager of Portsmouth Football Club.

The first charge of cheating the public revenue alleges that between April 1 2002 and November 28 2007 Mandaric paid 145,000 US dollars (£93,100) into the account.

The second charge for the same offence relates to a sum of 150,000 US dollars (£96,300) allegedly paid between May 1 2004 and November 28 2007.

Jurors were sent home to return on Monday, when they will hear final prosecution submissions before Mandaric's barrister Lord Ken Macdonald QC opens the defence.

PA

PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

A timely reminder of the bloody anniversary we all forgot

A timely reminder of the bloody anniversary we all forgot

Who remembers that this week we enter the 150th anniversary year of the end of the American Civil War, asks Robert Fisk
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing

Scarred by the bell

The downfall of the TV star charged with bar stabbing
Why 2014 was a year of technological let-downs

Why 2014 was a year of technological let-downs

Security breaches and overhyped start-ups dominated a year in which very little changed (save the size of your phone)
Cuba's golf revolution: But will the revolutionary nation take 'bourgeois' game to its heart?

Will revolutionary Cuba take 'bourgeois' golf to its heart?

Fidel Castro ridiculed the game – but now investment in leisure resort projects is welcome
Ed Richards: Parting view of Ofcom chief. . . we hate jokes on the disabled

Ed Richards: Parting view of Ofcom chief. . . we hate jokes on the disabled

Bad language once got TV viewers irate, inciting calls to broadcasting switchboards. But now there is a worse offender, says retiring head of the media watchdog
War with Isis: The West needs more than a White Knight

The West needs more than a White Knight

Despite billions spent on weapons, the US has not been able to counter Isis's gruesome tactics, says Patrick Cockburn
Return to Helmand: Private Davey Graham recalls the day he was shot by the Taliban

'The day I was shot by the Taliban'

Private Davey Graham was shot five times during an ambush in 2007 - it was the first, controversial photograph to show the dangers our soldiers faced in Helmand province
Revealed: the best and worst airlines for delays

Revealed: the best and worst airlines for delays

Many flyers are failing to claim compensation to which they are entitled, a new survey has found
The stories that defined 2014: From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions

The stories that defined 2014

From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations

Disaster looming? Now you know where to head...

Which British city has become the first to be awarded special 'resilience' status by the UN?
Finally, a diet that works: Californian pastor's wildly popular Daniel Plan has seen his congregation greatly reduced

Finally, a diet that works

Californian pastor's wildly popular Daniel Plan has seen his congregation greatly reduced
Say it with... lyrics: The power of song was never greater, according to our internet searches

Say it with... lyrics

The power of song was never greater, according to our internet searches
Professor Danielle George: On a mission to bring back the art of 'thinkering'

The joys of 'thinkering'

Professor Danielle George on why we have to nurture tomorrow's scientists today
Monique Roffey: The author on father figures, the nation's narcissism and New Year reflections

Monique Roffey interview

The author on father figures, the nation's narcissism and New Year reflections
Introducing my anti-heroes of 2014

Introducing my anti-heroes of 2014

Their outrageousness and originality makes the world a bit more interesting, says Ellen E Jones