English Premiership

Secret account for Redknapp?

2012-01-23 22:03
Harry Redknapp (File)

London - Tottenham manager Harry Redknapp was accused in court on Monday of creating a bank account named after a pet dog in a tax haven to "deliberately and dishonestly" hide bonuses from player transfers while at Portsmouth.

Redknapp, who is considered a leading candidate to become the next England coach, went on trial alongside former Portsmouth chairman Milan Mandaric on charges that they concealed payments of $295 000 from Britain's tax authority during their time working together.

Both Redknapp and Mandaric, who is now chairman at third-tier club Sheffield Wednesday, deny the charges.

On a day in which jurors were shown bank documents, Redknapp was portrayed not only as a talented football manager but also "a hardheaded businessman, with a financial acumen."

Prosecutors told the court that the 64-year-old Redknapp earned hundreds of thousands of dollars during his managerial career as a bonus from player transfers. At Portsmouth, the club at the heart of the case where Redknapp was director of football and then manager on two occasions between 2002 and 2008, he received bonuses of up to 10 percent.

The prosecution alleged at London's Southwark Crown Court that the disputed Portsmouth payments went into a HSBC account in Monaco called Rosie 47, which was named after his dog and date of birth.

"The crown's case is that the money transferred to that offshore Monaco account was deliberately and dishonestly paid by Mr Mandaric and was deliberately and dishonestly received by Mr Redknapp with the intention of concealing them from the UK tax authority," prosecutor John Black said. "These payments were a bung or off-record bonus which the parties have no intention of declaring for tax or ever did."

A bung is a term used in Britain meaning bribe.

The charges are that Mandaric paid $145 000 into Redknapp's Rosie 47 account in May 2002 and another $150 000 two years later to avoid paying income tax and national insurance.

Redknapp flew to Monaco in 2002 "for the specific purpose of setting up a secret account, into which the off-the-record payments could be received," Black said.

Monaco was chosen because it is "a jurisdiction with a fiscal framework of minimal taxation and a long history of banking secrecy," Black said, claiming that "this was quite deliberate and was intended to obscure the money trail and render much less transparent the nature and purpose of the payments."

The existence of the Monaco bank account was first disclosed by Redknapp in 2006 during an investigation into kickbacks in football.

The court heard that Redknapp did not mention the account's existence between 2004 and 2006 when he was investigated by Britain's tax authority over his transfer dealings at West Ham, which he managed between 1994 and 2001. That probe was prompted by "concerns" over the £300 000 bonus Redknapp received from the sale of now-Manchester United defender Rio Ferdinand to Leeds from West Ham.

The trial comes as Redknapp's side lies third in the Premier League, the highest place for a club with an English manager. He is considered a leading choice to replace Fabio Capello as England coach after this year's European Championship.

"He has gained widespread popularity as a talented football manager," Black told the jury of eight men and four women. "He is currently enjoying what may be described as football success as manager of Tottenham Hotspur."

Redknapp managed south coast club Portsmouth between 2002 and 2004, and returned to Fratton Park in 2005 after a brief spell at their archrivals Southampton before moving to Tottenham in 2008.

Read more on:    epl  |  harry redknapp


Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk

28 November 2015
Manchester City v Southampton, Etihad Stadium 17:00
Crystal Palace v Newcastle United, Selhurst Park 17:00
Sunderland v Stoke City, Stadium of Light 17:00
Aston Villa v Watford, Villa Park 17:00
Bournemouth v Everton, Vitality Stadium 17:00
Leicester City v Manchester United, King Power Stadium 19:30
29 November 2015
Tottenham Hotspur v Chelsea, White Hart Lane 14:00
West Ham United v West Bromwich Albion, Boleyn Ground 16:05
Liverpool v Swansea City, Anfield 18:15
Norwich City v Arsenal, Carrow Road 18:15
05 December 2015
Stoke City v Manchester City, Britannia Stadium 14:45
Arsenal v Sunderland, Emirates Stadium 17:00
Swansea City v Leicester City, Liberty Stadium 17:00
Manchester United v West Ham United, Old Trafford 17:00
Southampton v Aston Villa, St. Mary's Stadium 17:00
West Bromwich Albion v Tottenham Hotspur, The Hawthorns 17:00
Watford v Norwich City, Vicarage Road 17:00
Chelsea v Bournemouth, Stamford Bridge 19:30
Team P W PTS
Previous Results

Date Home Team Result Away Team

Who was the best summer signing in the EPL?

Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...


30 of the world's greatest golfers will be heading to the Gary Player Country Club for this year's Nedbank Golf Challenge - now in its 35th year. For all the latest news, player profiles, hole-by-hole descriptions and past winners, be sure to check out Sport24's dedicated section.

Latest blogs

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.