I'm sure we've had threads on our benefactor before but I can't be bothered to trawl back to find one to post this on... It looks like he is attempting to get back to reducing the clubs debts after the nightmare of COVID. Has to be good news right? https://www.walesonline.co.uk/sport...kCopy&utm_medium=social&utm_campaign=sharebar
Like most things, accountancy is a murky, mysterious world to me but on the face of it, it seems a very good thing. Now I just wish Wol would shut up about Ramsey.
A positive move moving loans into shares and strengthening his investment in the club. It also makes it harder for him to up sticks and run - not that I believe he would ever do that. Agreed on Ramsey Clingo. He's not coming to us. Once he sorts out a deal with Juve he will go to a Prem club or possibly the States. He needs regular football at a high level to be ready for Qatar. The speculation about him and Bale was fun while it lasted but enough is enough.
It's interesting that if reducing the club debt was the only motive, he could have done that by by converting more of his own loans into share capital. The problem with that of course is that it's just a balance sheet transaction and doesn't raise any actual cash. By issuing £19M of new share capital, whilst it will dilute his holding slightly, it actually generates cash from outside sources without having to borrow it. It would appear that real time liquidity is the aim and avoids him having to put his hand in his pocket every 5 minutes.
I seem to recall there being an issue around loan conversion relating to Malaysian law. Cant remember the detail but it limited how much per year he could convert. Might have dreamt it or could have been hallucinating.
You're on the right lines there remote, I do recall something like that a few years back. The other thing is the rule regarding loan to equity conversion. Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year - clearly not enough to meet his target.
Just been trawling WoL but couldnt find anything specific. One name did crop up though. Dato Chan Tien Ghee. The man that got the ball rolling. A shame he disappeared so soon, and quickly at that. Something odd there. A fall out behind the scenes?
What I'd like to know is what happened to Tan's new whizz kid CEO Jalil Rasheed he appointed last year when he booted his son Robin upstairs. I remember Tan also appointing Rasheed as a non executive director on the CCFC board to watch over the goings on and report directly to him as to what needed doing at the club. Heard nothing public since then.
Just found the link on the official City site from a year ago - where is the bugger??? https://www.cardiffcityfc.co.uk/news/bluebirds-appoint-new-non-executive-director-board
In fairness they also want shot of the manager, general manager and chief operating officer and others. Not happy bunnies.
I think he's poured quite a bit of money into the Bluebirds pot. In recent years very little has made it to the playing side, but it's kept us going.
