Sven loses cash on Southsea venture

Bett Langford in the Cornish Pilot gig     

Picture: Eastney Crusing Assosciation

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FORMER England boss Sven-Goran Eriksson revealed he lost millions of pounds on an investment in Southsea.

It is believed he wanted to do something with the empty Savoy buildings, in Clarendon Road, with former Pompey boss Harry Redknapp, the site’s owner.

But court papers have revealed that Mr Eriksson’s money was used by Samir Khan, his financial adviser at the time, to help fund a property for his family in Barbados.

It’s also been claimed by his lawyers that he bought expensive artworks and sculptures with some of his fortune.

Talking to the Daily Telegraph, Mr Eriksson said he believed he had lost about £10m.

‘For most people in the world it’s a huge amount of money and it is even for me.

‘Even if I was paid well with the jobs I had, it’s big.’

Mr Khan was introduced to Mr Eriksson in 2004 and he took control of his affairs in 2007.

In 2009, Mr Eriksson grew concerned and ran checks on him.

A year later he launched a High Court case against him.

As previously reported, Mr Redknapp’s firm, Pierfront Developments is looking to offload the Savoy buildings and Savoy Court, on South Parade.