Wednesday, November 11, 2009
Notts County Update
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The Guardian/Matt Scott Wednesday 11 November 2009
Curious case of Notts County, former adviser and a North Korean bigwig
Notts County told the Football League they had severed all ties with Russell King. His trip to Pyongyang casts doubt on that
The controversy over Notts County's ownership has been reopened as it emerged that Russell King, whom Notts County assured the Football League had nothing to do with the club, travelled to Pyongyang last month to visit Kim Yong-nam, one of North Korea's most powerful officials. He was representing Swiss Commodity Holdings (SCH), the company which has such close links with County that its distinctive logo now sits in the badge of the historic club.
Sven-Goran Eriksson was offered a substantial shareholding in SCH as part of his agreement to become director of football at County. Sol Campbell also held an "ambassadorial contract" with the company before he quit Meadow Lane in September. King was one of the figures who negotiated with Eriksson to bring him to the club.
King was photographed in the Mansudae Assembly Hall in Pyongyang as part of a delegation representing Swiss Commodity Holdings, which says it has considerable mineral reserves, on 22 October. That was two days after the Football League announced that Notts County's new owners had passed the fit and proper persons test. In that announcement the League was careful to note the club's assurance that Russell King no longer had any role in its affairs. The Football League was troubled by the fact that his alleged involvement in a £1.9m fraud is under investigation by the authorities in Jersey.
Previously the club had said that King had a role in advising on communications and strategy. He was involved in a number of high-profile recruitments to the club.
When asked to explain King's trip to Korea with SCH, his lawyer said: "Notts County Football Club did not have any business in North Korea on 22 October and has no comment on Mr King's personal business travels." Also in the photograph is Nathan Willett, who along with his father, Peter – himself a Notts County board member – is one of only two directors listed in company filings in Switzerland as being involved with SCH. Willett Jr says he is also a director of Qadbak, which owns Notts County via a convoluted chain of companies in the UK and British Virgin Islands. He was a signatory to the purchase agreement that gave Qadbak control of the Meadow Lane club in June through its subsidiary, the BVI shell company Munto Finance.
The photograph, which was released to accompany a statement in the North Korean official media, shows Shanti Sen, SCH's chief executive, and King immediately flanking Kim Yong-nam, with Nathan Willett to King's left. Although in practice Kim Jong-il, the "Dear Leader", rules the country, Kim Yong-nam is perhaps the most powerful official in North Korea.
The official North Korean statement said: "Kim Yong-nam, president of the Presidium of the DPRK Supreme People's Assembly, met and had a conversation with the visiting delegation of the Swiss Commodity Holding AG led by chief executive Ms Shanti Sen at the Mansudae Assembly Hall on 22 October."
That was only 48 hours after the Football League approved Qadbak's takeover of Notts County. On doing so, the league said in a statement: "The league has also noted the club's announcement on Monday, 12 October, that its consultancy arrangement with Russell King has been terminated." Notts County had said in the 12 October statement that "the club is happy to make clear that it has severed all ongoing connections with Mr Russell King".
The decision to pass the Qadbak takeover was made on the basis of evidence provided by the club. The league stated on 20 October: "This decision is based on the extensive disclosure provided by the club with regard to its ownership structure. This structure is complicated, and features both offshore entities and discretionary trusts.
"Together with the initial hesitation of the club's ultimate owners to identify themselves, this made for a lengthy and at times difficult process. Following greater co-operation from the club more recently, the league is now in a position to confirm that it is in possession of the appropriate details for those individuals that exercise control over the club."
However, what documents were presented to the Football League cannot be verified independently. The Guardian can reveal that no filings have ever been made with the British Virgin Islands Companies Registry relating to shareholdings or directorships for Munto or Qadbak.
Football staff at Meadow Lane have also been informed that Eriksson has made trips to North Korea, with a separate report in the North Korean media also said to confirm that he has paid at least one visit.
Last month the Guardian revealed that the former England manager had held preliminary talks with intermediaries representing the North Korean Football Association with a view to him providing technical advice to its national team, who have qualified for next summer's World Cup. Guardian
The Guardian/Matt Scott Wednesday 11 November 2009
Curious case of Notts County, former adviser and a North Korean bigwig
Notts County told the Football League they had severed all ties with Russell King. His trip to Pyongyang casts doubt on that
The controversy over Notts County's ownership has been reopened as it emerged that Russell King, whom Notts County assured the Football League had nothing to do with the club, travelled to Pyongyang last month to visit Kim Yong-nam, one of North Korea's most powerful officials. He was representing Swiss Commodity Holdings (SCH), the company which has such close links with County that its distinctive logo now sits in the badge of the historic club.
Sven-Goran Eriksson was offered a substantial shareholding in SCH as part of his agreement to become director of football at County. Sol Campbell also held an "ambassadorial contract" with the company before he quit Meadow Lane in September. King was one of the figures who negotiated with Eriksson to bring him to the club.
King was photographed in the Mansudae Assembly Hall in Pyongyang as part of a delegation representing Swiss Commodity Holdings, which says it has considerable mineral reserves, on 22 October. That was two days after the Football League announced that Notts County's new owners had passed the fit and proper persons test. In that announcement the League was careful to note the club's assurance that Russell King no longer had any role in its affairs. The Football League was troubled by the fact that his alleged involvement in a £1.9m fraud is under investigation by the authorities in Jersey.
Previously the club had said that King had a role in advising on communications and strategy. He was involved in a number of high-profile recruitments to the club.
When asked to explain King's trip to Korea with SCH, his lawyer said: "Notts County Football Club did not have any business in North Korea on 22 October and has no comment on Mr King's personal business travels." Also in the photograph is Nathan Willett, who along with his father, Peter – himself a Notts County board member – is one of only two directors listed in company filings in Switzerland as being involved with SCH. Willett Jr says he is also a director of Qadbak, which owns Notts County via a convoluted chain of companies in the UK and British Virgin Islands. He was a signatory to the purchase agreement that gave Qadbak control of the Meadow Lane club in June through its subsidiary, the BVI shell company Munto Finance.
The photograph, which was released to accompany a statement in the North Korean official media, shows Shanti Sen, SCH's chief executive, and King immediately flanking Kim Yong-nam, with Nathan Willett to King's left. Although in practice Kim Jong-il, the "Dear Leader", rules the country, Kim Yong-nam is perhaps the most powerful official in North Korea.
The official North Korean statement said: "Kim Yong-nam, president of the Presidium of the DPRK Supreme People's Assembly, met and had a conversation with the visiting delegation of the Swiss Commodity Holding AG led by chief executive Ms Shanti Sen at the Mansudae Assembly Hall on 22 October."
That was only 48 hours after the Football League approved Qadbak's takeover of Notts County. On doing so, the league said in a statement: "The league has also noted the club's announcement on Monday, 12 October, that its consultancy arrangement with Russell King has been terminated." Notts County had said in the 12 October statement that "the club is happy to make clear that it has severed all ongoing connections with Mr Russell King".
The decision to pass the Qadbak takeover was made on the basis of evidence provided by the club. The league stated on 20 October: "This decision is based on the extensive disclosure provided by the club with regard to its ownership structure. This structure is complicated, and features both offshore entities and discretionary trusts.
"Together with the initial hesitation of the club's ultimate owners to identify themselves, this made for a lengthy and at times difficult process. Following greater co-operation from the club more recently, the league is now in a position to confirm that it is in possession of the appropriate details for those individuals that exercise control over the club."
However, what documents were presented to the Football League cannot be verified independently. The Guardian can reveal that no filings have ever been made with the British Virgin Islands Companies Registry relating to shareholdings or directorships for Munto or Qadbak.
Football staff at Meadow Lane have also been informed that Eriksson has made trips to North Korea, with a separate report in the North Korean media also said to confirm that he has paid at least one visit.
Last month the Guardian revealed that the former England manager had held preliminary talks with intermediaries representing the North Korean Football Association with a view to him providing technical advice to its national team, who have qualified for next summer's World Cup. Guardian
