Portsmouth have confirmed that their manager, Harry Redknapp, was one of the five people arrested today as part of the City of London's investigation into football corruption. Redknapp was held at Chichester police station on suspicion of conspiracy to defraud and false accounting.
Leicester chairman Milan Mandaric, Portsmouth chief executive Peter Storrie, agent Willie McKay and Charlton midfielder Amdy Faye were the others arrested. The five were held in pre-dawn raids after more than 60 police officers searched eight addresses across the UK.
A spokesman for Portsmouth said: "Portsmouth Football Club can confirm that chief executive Peter Storrie and manager Harry Redknapp have today been asked to help police with their inquiries concerning a matter dating back to 2003. This was prior to the new owner taking control of the club at the beginning of 2006. The club is fully supportive of Peter and Harry who are co-operating fully with City of London police in this ongoing inquiry. Both are playing major roles in the continued success of Portsmouth Football Club."
Police refused to give details of the identity of those being held, but did reveal their ages are 69, 60, 55, 48 and 30. A spokeswoman from City of London police 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."
Attention will focus on the transfers of Faye from Auxerre to Portsmouth in 2005 and Portsmouth to Newcastle in 2006. Mandaric was the chairman at Portsmouth when Faye moved there, while McKay acted as agent for the deal. Redknapp was the Portsmouth manager when Faye was transferred to Newcastle. Faye has since signed for Charlton and this summer joined Rangers on loan.
The City of London police launched the investigation into alleged corruption in football more than a year ago. Tottenham Hotspur defender Pascal Chimbonda, who McKay also represents, was arrested on suspicion of fraud in September, and a 61-year-old man was held on suspicion of money laundering in May. Both men are on police bail pending further inquiries.
Five men, including Harry Redknapp, the manager of the English football club Portsmouth, and former Portsmouh chairman Milan Mandaric (now at Leicester City) have been arrested by British police in an investigation into alleged corruption in British football transfers.  Reports suggest that they have been arrested on suspicion of conspiracy to defraud and false accounting

Portsmouth Chief Executive Peter Storrie and player Amdy Faye have also been arrested.