http://www.cardiffcityfc.co.uk/page/NewsDetail/0,,10335~2371221,00.html#continue Not all bad news then
Unless the Malaysians have heavily underwritten the PMG debt, there is no way that Paul Guy would have converted a "significant amount" of his secured debt into share capital unless he was 100% certain that Hamman's position was very wobbly indeed. Why should he? He couldn't lose in a gone concern situation with his first charge on club assets. Methinks that Hamman and his dubious Langston dealings have been found out and he'll take a very low payoff to walk away to avoid the possibility of getting zilch. These Malaysians are extremely astute business people, and Paul Guy is no mug either.
This is my favourite piece of that article: "PMG fully endorse the stance taken by the Board in appointing forensic accountants investigating Sam Hammam and his business dealing whilst Chairman of Cardiff City Football Club." I'd love to be at the meeting where Sam Ham...sorry...Langstone are told to 'Do One' as the debt is unsubstantiated and can't be pursued on legal grounds...
Definite closing of the ranks against Hamman. I'd like to see the Malaysian funding to the club converted to shares as well. Perhaps that is on the agenda when Sam has scuttled off back from whence he came. Now where is Ladyboi when you need him. Wasn't he certain that Hamman would return? Got it from people who are definitely club directors. My cheeky bits!!!!
