Pompey were one of those targeted by the force, along with Newcastle and Rangers, when officers executed search warrants as part of their investigation into corruption in football - which is not linked to Lord Stevens' inquiry on illegal Premier League payments.

The homes of two unnamed individuals were also searched, while it was reported today that the transfers of Amdy Faye and Jean-Alain Boumsong to Newcastle were being scrutinised by police.

Mandaric was at the helm at Fratton Park for eight years until last September and is now chairman at Coca-Cola Championship club Leicester.

He is convinced officers will find no wrongdoing at the south coast club and is angry at the way the three implicated clubs' names have been brought under suspicion.

"It's giving football something it doesn't really need at this time," Mandaric told Sky Sports News.

"Especially I'm talking in the case of Portsmouth, where you know there is nothing there.

"I think if they (police) want to give something to the public they should have some facts, and then give that to the public.

"Just making an assumption and giving some information out before they have any information, I think that's wrong."

The City of London force have defended their handling of the raids, however, and insist the names of the clubs subjected to the raids were only made public with their agreement.

A spokesman told PA Sport: "City of London police only confirmed the name of Portsmouth Football Club to journalists once we had received confirmation from Portsmouth that they had identified themselves to the media."

Regardless of this week's events, Mandaric is convinced Pompey will emerge unscathed.

"When I was at Portsmouth, to my knowledge we never had any problem," he added.

"I don't have the details, but as far as I'm concerned Portsmouth have done nothing wrong."

However, Mandaric is adamant any corruption uncovered must be dealt with effectively to prevent the reputation of the game being lowered further.

"For all of us in football this should be a huge concern, we don't want things like this to happen," he added.

"We want to keep football clean, keep it as a beautiful game. Anything wrong, corruption, is totally unacceptable to everyone who's in football."