Redknapp arrested in soccer bungs raid

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The Portsmouth manager and Leicester chairman were held in pre-dawn raids this morning which involved more than 60 officers from the City of London Police.

Rangers midfielder Amdy Faye, agent Willie McKay and Portsmouth chief executive Peter Storrie were also held as officers searched eight addresses across the UK. The move is believed to be a significant development in the inquiry wgich will now focus on the transfer of Faye from Auxerre to Portsmouth for £1.5million in 2005 and his subsequent move to Newcastle for £2m the following year.

When Faye made the switch to Portsmouth, Mandaric was still the chairman at Fratton Park and Redknapp was again the club's manager when the midfielder went to St James' Park.

The arrests come after the arrest in September of Tottenham defender Pascal Chimbonda. The 28-year-old French international moved to Spurs in a £4.5m transfer from Wigan in August of last year and was the first player to be held in the City of London police inquiry.

Today police refused to give details of the identity of those held, beyond giving their ages as 69, 60, 55, 48 and 30.

A police spokeswoman said: "We can confirm that they have been arrested on suspicion of conspiracy to defraud and false accounting.

"The arrests are part of the City of London police's investigation into football corruption." The City police's economic crime department launched the investigation, code-named Operation Apprentice, into alleged corruption in the sport more than a year ago.

Two people have been held so far. As well as Chimbonda, who was arrested on suspicion of fraud, a 61-year old man has been held on suspicion of money laundering.

Both men are on police bail pending further inquiries. The investigation centres on alleged tax fraud and money laundering - which is believed to include claims of individuals taking back-handers in relation to transfers.

Since the inquiry was launched, detectives have raided Newcastle, Portsmouth and Glasgow Rangers.

Chimbonda's transfer was negotiated by McKay, who represents a number of top foreign players.

A former bookie, McKay, has denied that he is being investigated by police and has said: "I think you will probably find when it all comes out, it will be nothing."