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Last Updated: Tuesday, 3 January 2006, 15:17 GMT
Redknapp pledges to spend wisely
Harry Redknapp
Redknapp is keen to strengthen his squad at Fratton Park
Portsmouth manager Harry Redknapp has vowed not to waste any money in the transfer market if he receives a windfall from Alexandre Gaydamak.

The businessman - son of a Russian billionaire - is to become joint owner of Portsmouth after coming to a deal with chairman Milan Mandaric.

Redknapp said: "I am hoping to get a bit of money but will have to wait and see, although he sounds quite wealthy.

"But I certainly will not pay over the top for players."

He added: "I will not give other clubs the pleasure of taking our money because if I think someone is worth 2m, I am not going to pay 3m.

"Maybe some people will ask for more, but I still think there are clubs who want to sell, and so you have to target those players if you can.

"Players have got their values. We just have to make sure we pick up the right ones."

Redknapp has been linked with a move for Auxerre's Zimbabwean forward Mwaruwari Benjani but said: "He is a player we have spoken about, but as far as I am aware we have not made a bid."

The Pompey boss says he knew nothing about Gaydamak's arrival until he spoke to Mandaric on Monday, but accepts his job is safe.

"When Milan spoke with me and told me about this guy, I never asked for any assurances," Redknapp said.

"The chairman just said 'I am looking to do something with someone Harry. It is going to be good for the club, they desperately want you and this, that and the other', so I said 'that is fine'.

"It sounds as if he will be exciting for the club."

French national Gaydamak, 30, whose father is Arcadi Gaydamak, will be an equal partner in the club.

Financier Arcadi Gaydamak already owns Israeli club Beitar Jerusalem.

But no financial details regarding the new partnership have been announced.

"The pair of them will work together closely to further develop all aspects of Portsmouth Football Club, Pompey stadium, Pompey village as well as a modern training facility," said a club statement.

As with all incoming directors, Gaydamak will be subject to the Football Association's 'fit and proper person test' so until he passes that, the deal cannot officially go through.

But assuming he passes, he is expected to take on more of a hands-on role at Fratton Park, with Mandaric stepping back to spend more time with his family.

Despite owning Beitar, Alexandre's father Arcadi has lived in Moscow since 2002.

The Beitar owner is involved in various industrial enterprises in Russia and owns a medium-sized bank and brokerage company.

In 2000 Paris magistrates issued an arrest warrant for him for questioning over an alleged arms-for-oil deal with Angola in the early 1990s.

Arcadi Gaydamak insisted his involvement in the deal was as part of a legitimate agreement between the governments of Russia and Angola.

Jean-Christophe Mitterand, the son of former French president Francois Mitterand, was given a 30-month suspended sentence for his involvement in the affair.

Portsmouth statement on club's future

Report: BBC Sport's James Munro on plans for a takeover at Portsmouth

From Russia with cash
03 Jan 06 |  Portsmouth


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