The £50,000 Pair of Boots

Dave Whelan today questioned why the well-off Pascal Chimbonda needed an £18,000 loan from his agent Willie McKay when he moved from Latics to Tottenham in 2006.

Chimbonda, 28, was questioned by City of London police last week on suspicion of conspiracy to defraud and bailed until October.

The police are anxious to establish that any loans paid to players are not for the purpose of avoiding tax because loans are not taxable.

Yet Chimbonda talked Whelan into loaning him £50,000 for a pair of boots (and a car – Ed) when he initially signed from Bastia in 2005.

"Chimbonda told me he was skint and wanted a loan” said Whelan, "we are a football club, not a bank and I said I didn't loan players money.

"But he wanted to buy a car and didn't have a decent pair of boots, [so] we organised a bank loan of £50,000 for him, with a warranty that the money would come out of his wages if he didn't pay it back.

"He paid the bank, as far as I know, and we just guaranteed it."

Chimbonda went on to sign a new, improved contract at Latics before his £4.5m switch to White Hart Lane.

"I can't believe Chimbonda would have needed another loan," said Whelan.

His totally above-board agent, Mr. Willie “Totally-Above-Board” McKay said: "I have done this before for many of my players if they are short. If it was underhand why would I give him a cheque from my bank account?"