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Harry Redknapp made "disastrous" business decisions and lost £250,000 in a "very unsuccessful" takeover bid at Oxford United, his banker told a court on Thursday.
He lost every penny as part of a loan to take control of the club, HSBC executive Alan Hills said.
Redknapp's barrister John Kelsey-Fry QC used the example to deny prosecution claims that the Tottenham manager was a "hard-headed businessman".
He asked Hills at Southwark Crown Court, in London: "Do you remember an occasion when he was persuaded to loan, at very short notice, £250,000 to buy Oxford United and that money just disappeared into the mist?"
Hills replied: "I have never seen it, yes."
Hills said Redknapp had shown acumen in the property market, but he agreed with Kelsey-Fry's claim that "with the benefit of hindsight, some investments were disastrous".
He added: "With regard to the shares (in Oxford United)...it is fair to say they were very unsuccessful."
Hills, an associate director with HSBC in London between 2000 and 2009, said he held meetings with Redknapp alongside the football boss' solicitor and accountant.
The jury was told Hills was not initially informed of Redknapp's Monaco dealings in addition to the domestic accounts he held with HSBC.
Hills said: "I would have expected to have known or be told of it."
When Redknapp mentioned the account, he told Hills the account name was "in relation to his dog".
"When asked for a name for the account, that was the first thing that came to his mind," Hills told jurors.
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Article source: http://www.espnstar.com/football/news/detail/item742275
Cruz Azul and Union Espanola each recorded their second win in the Copa Libertadores group stage when they saw off Venezuelan opposition on Tuesday.
Mexican side Cruz Azul hammered Deportivo Tachira 4-0 while Chilean side Union enjoyed a 3-1 success against Bolivar in Venezuela.
Adrian Cortes’ 18th-minute penalty set Cruz Azul on their way to victory in Group Six. Edixon Perea made the game safe (54) before Javier Orozco Penuelas and Emanuel Villa gave the scoreline a more emphatic look.
In Group Three, Bolivar took a first-minute lead against Union through Edemir Rodriguez but were pegged back by two goals in five minutes from Mauro Diaz (62) and Emanuel Herrera (66). Substitute Jean Paul Pineda scored a late third for the visitors.
Arsenal Sarandi bounced back from their opening Group… Continue reading Second wins for Union and Cruz Azul
Lock Alun Wyn Jones and captain Sam Warburton return for Wales’ Triple Crown bid against England on Saturday.
Unbeaten Wales have made three changes to the pack that started their
.
Hooker Ken Owens will make his first Wales start because Matthew Rees and Huw Bennett have calf injuries.
Osprey Jones will play his first Wales game since the World Cup, ousting team-mate Ryan Jones, who hands back the captaincy to openside Warburton.
Warburton was forced to miss the victory over the Scots because of a dead leg.
Alun Wyn Jones, who win his 60th cap, is back
World number one Luke Donald has been drawn to meet three-time major winner Ernie Els in the WGC Match Play Championship this week.
Donald, the defending champion, will be hoping to reproduce his incredible 2011 form when he won all six of his matches before the 18th hole.
Tiger Woods will play Spain’s Gonzalo Fernandez-Castano in Wednesday’s opening round at Dove Mountain.
Rory McIlroy begins his campaign against South African George Coetzee.
Lee Westwood faces Belgian Nicolas Colsaerts at the Arizona course, while Sergio Garcia takes on fellow Spaniard Miguel Angel Jimenez.
Bill Haas, winner of Sunday’s Northern Trust Open, tees off against Japan’s Ryo Ishikawa while Dustin Johnson meets his… Continue reading Donald to face Els at Match Play
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