Saturday, 12 November 2011

Former Foxes' owner faces tax trial

Former Leicester City owner and chairman Milan Mandaric will face trial accused of tax evasion.

Charges: Milan Mandaric was owner at the Walkers Stadium for three years

Along with Tottenham Hotspur manager Harry Redknapp - manager at Portsmouth under Mandaric's ownership of the South coast club - the Serbo-American business tycoon faces two charges of cheating the public revenue.

The case relates to two payments of £183,000 that were allegedly made by Mandaric to Redknapp's Monte Carlo bank account during their spell in charge at Pompey.

Mandaric, 73, took over at Leicester after buying-out a consortium including club legends Gary Lineker and Emile Heskey in January 2007 for £25 million. Under his tenure, the Foxes went through a total of seven managers and the club was relegated to the third tier for the first time in their 125-year history. A successful promotion campaign under Nigel Pearson - expected to be reappointed as manager next week - saw the club fighting in the Championship play-offs in 2010, only to be knocked-out by Cardiff City on penalties.

Mandaric sold the club to Thai investors Vichai and Aiyawatt Raksriaksorn last year for a reported sum of £40 million.
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