But Willie McKay has defended the loan to Chimbonda and admitted that he has made similar loans to other players.
"Pascal had just joined Spurs and was a bit short at the time, so I gave him some money, "said McKay. "He rang me up and asked if I could lend him £18,000 so I said 'no problem, just come up and get it.'
"I didn't want to give him cash so it was a cheque and he signed a bit of paper for it. They should really be calling me Father Christmas, " he told The People.
"I have done this before for many of my players if they are short at any time. If it was underhand why would I give him a cheque from my bank account?
"I am amazed that this information has been leaked and I wonder about the agenda of the people involved. It would be laughable if it wasn't so serious."