The High Court has heard evidence that 16 players asked their agents to recommend a financial adviser.

They were then put in touch with Formation Asset Management Ltd, which then gave them advice on a number of investments.

They paid commission for this BUT they were not told the money would be shared with the agents, the High Court was told.

There are 17 claimants, 16 past or present football players and one financial advisor.

Amongst the claimants are former Newcastle United stars from the 90s: Andy Cole, Shaka Hislop and Robbie Elliott.

The other 13 players include the likes of Robbie Savage and Danny Murphy who are high profile working in the media these days.

The other 13:

John Curtis (Manchester United, Nottingham Forest), Sean Davis (Fulham, Portsmouth), Stephen Hughes (Arsenal, Coventry), Denis Irwin (Manchester United), Tommy Johnson (Notts County, Aston Villa), Zat Knight (Fulham, Bolton), Danny Murphy (Liverpool, Fulham), Ian Pearce (Blackburn, West Ham), Robbie Savage (Leicester, Derby), Jonathan Short (Derby, Blackburn), Jamie Smith (Crystal Palace), Gary Teale (Wigan), Tony Vidmar (Rangers).

They defendants are claiming it was accepted ‘market practice’ for money to change hands in this way.

The defendants are:

Formation Group Plc, Formation Asset Management Ltd (in liquidation), Ian Battersby, David McKee, Kevin McMenamin, Paul Stretford and George Urquart.

Mr Justice Morgan said that a further hearing will take place at a future date.

  • Paul Patterson

    Long gone are the days where a player and his lone representative did the deal.
    ‘Do you want to sign for this club?
    ‘ Yes, this is the wage I’d like’
    ‘Ok, great, everything seems to be ok’
    Contract signed.

  • Peter C

    Everyone wants their nose in the trough, and a more than fair share of the money pie, in football and sport in general, now.

    Far to much money going to football agents and their ilk.

    I don’t begrudge players earning decent money, but salaries for them are getting out of hand, and have been for sometime.

    How about some of the vast amount of TV money, going into reducing the cost of attending games.

    Us the supporters, who are the life blood of the game, are an after thought, and by many owners, chairmen and the football hierarchy, treated with contempt.

    • Down Under Mag

      Pretty much sums up modern football. Everyone trying to get their pound of flesh and seemingly very little conscience on show either.

  • Martin Rooney

    I started reading this and thought Paul Stretford, quelle surprise, there he is as a defendant, wonder if fat Fred and his son had any involvement.