Ex-England boss reveals adviser’s dodgy property investments
The former England football manager, whose autobiography is being serialised in the Daily Mail, said he had never cared about money. He immediately trusted City of London-insured Samir Khan, who had an office in Bond Street.
On Eriksson’s behalf, Khan invested in a Portsmouth property development where the main investor was Harry Redknapp. Other investments included a beach house in Barbados neighbouring Wayne Rooney’s and a magazine, Icon.
However, profits failed to materialise. In total, Eriksson’s accountants estimated the schemes had lost him £10m and left him on the verge of bankruptcy. He took Khan to court, where the adviser agreed to bankrupt himself.
Eriksson wrote: “The lawyers said it was a great result — the best hope of recovering a fraction of my fortune. It didn’t feel like a great result to me.
“The other day, I put my home in Sweden on the market. I feel a bit melancholy about that.”
According to the memoir, Eriksson met Khan when he was looking to take out a mortgage to buy a £1.7m house in Belgravia, London.
He had little interest in reading contracts and would often sign a single page faxed over by Khan.
He was warned several times, including by Redknapp, that his adviser “was no good”, but continued to trust him.
When Eriksson finally began investigating his finances, he discovered he was paying the lease on one ex-girlfriend’s car. Another former lover, Nancy Dell’Olio, was still living in his London apartment.