Serepisos denies Herbert owed $100,000
LATEST: Wellington Phoenix coach Ricki Herbert is owed more than $100,000 by the Terry Serepisos-owned club and has engaged lawyers, according to a report today.
Former Supreme Court judge Bill Wilson has confirmed he was acting for Herbert, but would not give details about the work, according to the National Business Review today.
However, Serepisos denied the club owed Herbert $100,000 and refused to say whether it owed any money at all to the coach.
The property developer has been battling attempts to bankrupt him and his lawyers last week submitted a plan to the High Court for a trustee to sell most of his remaining property portfolio over about two years.
Serepisos has staunchly stood by his continued ownership of the Phoenix, where he says it is ''business as normal", and recently brushed aside concerns over late payments to his players, saying there was a one-day delay caused by an ''internal issue".
He is also adamant that a $100m loan arranged from Western Gulf Advisory, a Bahrain-based lender that has been accused of fleecing investors in Australia, would still come through.
It has been estimated that Mr Herbert is supposed to be paid about $200,000 a year for coaching the Phoenix.
It is understood five businessmen are positioning themselves to run the Phoenix should Serepisos fall, with Wellington City Council sports portfolio leader John Morrison telling The Dominion Post growing concern over Serepisos' financial position had led to the formulation of a back-up plan to ensure the survival of the club.
Herbert could not immediately be reached for comment this evening.
https://www.stuff.co.nz/sport/football/5574530/Serepisos-denies-Herbert-owed-100-000C-Diddy2011-09-06 18:32:03
Serepisos denies Herbert owed $100,000
LATEST: Wellington Phoenix coach Ricki Herbert is owed more than $100,000 by the Terry Serepisos-owned club and has engaged lawyers, according to a report today.
Former Supreme Court judge Bill Wilson has confirmed he was acting for Herbert, but would not give details about the work, according to the National Business Review today.
However, Serepisos denied the club owed Herbert $100,000 and refused to say whether it owed any money at all to the coach.
The property developer has been battling attempts to bankrupt him and his lawyers last week submitted a plan to the High Court for a trustee to sell most of his remaining property portfolio over about two years.
Serepisos has staunchly stood by his continued ownership of the Phoenix, where he says it is ''business as normal", and recently brushed aside concerns over late payments to his players, saying there was a one-day delay caused by an ''internal issue".
He is also adamant that a $100m loan arranged from Western Gulf Advisory, a Bahrain-based lender that has been accused of fleecing investors in Australia, would still come through.
It has been estimated that Mr Herbert is supposed to be paid about $200,000 a year for coaching the Phoenix.
It is understood five businessmen are positioning themselves to run the Phoenix should Serepisos fall, with Wellington City Council sports portfolio leader John Morrison telling The Dominion Post growing concern over Serepisos' financial position had led to the formulation of a back-up plan to ensure the survival of the club.
Herbert could not immediately be reached for comment this evening.
http://www.stuff.co.nz/sport/football/5574530/Serepisos-denies-Herbert-owed-100-000C-Diddy2011-09-06 18:32:03