Harry Redknapp was in defiant mood despite his arrest yesterday in the biggest criminal inquiry into British football. On being released from police custody after several hours of questioning, the Portsmouth manager insisted “that’s the end of it” and that it was “other people involved”.

Speaking from his home in Poole, Dorset, Redknapp maintained that he faces no further interviews by officers investigating corruption and malpractice in transfer dealings.

Redknapp, who had been third favourite with bookmakers to take charge of England after Steve McClaren’s dismissal, was among five people arrested yesterday morning by the City of London force on suspicion of conspiracy to defraud and false accounting. The others were Milan Mandaric, the former Portsmouth chairman and now Leicester City owner, Willie McKay, a high-profile agent, Peter Storrie, the Portsmouth chief executive, and Amdy Faye, the former Portsmouth midfield player.

Redknapp was met by police at Gatwick after returning from watching Rangers lose to VfB Stuttgart in the Champions League on Tuesday. He was held at Chichester police station and after being released on police bail said: “We all helped the police with their inquiries, but it doesn’t directly concern me. It’s other people involved. I think that’s the end of it. They have to arrest you to talk to you, for you to be in the police station.”

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The fact that the police are carrying out the investigation raises the issue of whether the football authorities are equipped properly to regulate the game

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Background

• Police arrest Redknapp over dealings

• Whispers will not go away for wheeler-dealer

• Newell left on a road to nowhere

• Mandaric will ''offer full support' to police

Background

• Fans’ chants for Mandaric silenced

• Former bookie who knew value of being the middleman

• Faye gets caught in Redknapp’s net

• Old pals that survived Upton Park fallout

Background

• Police moves highlight FA resources shortfall

• How events unfolded

Related Links

• Mandaric will ''offer full support' to police

• Whispers will not go away for wheeler-dealer

• Fans’ chants for Mandaric silenced

City of London Police would only say last night that men aged 69, 60, 55 and 48 — Mandaric, Redknapp, Storrie and McKay — had been released on police bail, but that a 30-year-old, thought to be Faye, was still in custody. Paul Martin, the solicitor representing Storrie and Redknapp, said: “The inquiries do not relate to either of those individuals.”

The inquiry is focused on Portsmouth’s signing of Faye, a midfield player, from Auxerre for £1.5 million four years ago. Portsmouth were among three clubs — Newcastle United and Rangers were the others — raided in July and police made further searches yesterday, including one at Redknapp’s home.

In a statement, Portsmouth Football Club said: “This [matter] was prior to the new owner [Alexandre Gaydamak] taking control of the club at the beginning of 2006. The club is fully supportive of Peter and Harry.”

City of London detectives have told the Crown Prosecution Service that their inquiry has superseded a separate investigation into “bungs” carried out by Lord Stevens of Kirkwhelpington. “These arrests should not be seen as an examination of an alleged bungs culture,” a source close to the investigation said. “The police have been looking at a range of possible financial crimes, including money-laundering and tax offences.”

The police are also looking at the £2 million transfer of Faye from Portsmouth to Newcastle two years ago. He has since moved to Charlton Athletic, but is now playing on loan at Rangers. Charlton and the Scottish club are not part of the inquiry.

Yesterday’s arrests were not the first. Pascal Chimbonda, the Tottenham Hotspur defender, was arrested on suspicion of conspiracy to defraud in September, as well as an unnamed 61-year-old in connection with alleged money laundering, in the same investigation. Both have been bailed, without charge, until January.

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