I hope Tan does not turn this debt into equity until the new players are signed. By the time he does it we could be up to £200m in debt sounds a lot but ManU equity is over one and a half billion. Tan knows that If he wants to make a profit CCFC must be in the top half of the prem and I would think that would be his aim within the next 4 years.
Dai seriously if you wanted to make money buying a football club is the worst investment anyone could make. Tan has a dream of seeing Cardiff in the top four of the premier league at some point...where he got that idea from god knows but that is driving him not any thought of making money. Before TG got him interested in Cardiff he said "I thought football clubs just made hundreds of millions losses" and when TG told him Cardiff`s debt was around £30 million his reply was "Is that all?" jck
I think that used to be the case Dai. However this year the new TV deal is crazy. Im read this season to expect our club to make a profit of between £20-£30m despite spending big. On last years TV deal that wouldnt have been the case.
http://www.bbc.co.uk/news/uk-wales-25696896 Tan has put in £150m, all debt to be converted into equity. Once complete we will start making profits.
And that's where Tan's problems start. £150m for a PL club with a new stadium, approx 30k attending fan base, is not a problem. We'd be a ****ing expensive Championship outfit though!
Not sure whether this is true. Unsecured debt is not necessarily relevant. The fact the debt is not secured against specific assets does not mean he has no assets to tap into. Tan could easily force a sale of the players and lay claim to the parachute payments the club would receive in the event of relegation. Much depends on the terms of the loan but my guess is that Tan would have ensured the loan would be repayable on demand just like most commercial loans. In my view he has us by the short and curlies. Having said that I'm not completely unsupportive of Tan's involvement with the club even though some of his decisions have bordered on the bizarre.
Tan is a billionaire, he has many business interests that he could sell and make hundreds of millions. TG talked him into investing in the club and somehow Tan got caught up in the action and took over. It was Tan who provided £20,000 a week from his own pocket to get Bellamy on loan. In Malaysia they have a tv channels showing all the Cardiff games live. Tan is single minded, failure is not an option but he understands that things do not always go as planned but always keep your mind on the objective. This season success will be keeping our premier league status but that is not good enough he wants the club to be in the top four. You can call this madness if you like but he sees this challenge the same way as his other businesses that have made his billions. The amount of travel involved makes him already a fan that has covered most miles to watch Cardiff play. This is personal, he wants to prove himself and is willing to wait and do everything he can to get this club where he wants it to be. Ever since Sam walked into the club there has never been a dull moment...even our forum shows that while a lot of other forums are dull. The next two games are the reason we wanted to be here, Cardiff away to Man City then Man Utd in the premiership...how good does that sound. Enjoy what we have and where we finish is where we finish. jck
Cardiff's have no problems what they have is problems pending when tan does leave. How the club can be still in debt by more than when he took over is baffling and don't make any sense, He has either paid the debt or he has not paid the debt and if he has not paid the debt then what is he doing there re branding the club at will...If the debt has not been paid and its well reported that it has not then questions has to be asked because when he finally leaves then he will leave the club in a far worst state than when he came....It don't make any sense..
nah, you buy it for peanuts, borrow lots of money against the club and it's assets so the club buys itself, then take money out for yourself. If you can make a nice profit on top of that then all well and good, but if it all goes tits up it doesn't matter as the debt is all on the club. You can even do what Gaydemak did at Portsmouth, borrow, take money out, asset strip, sell the club and make sure you are a secured creditor so you get every penny you can prove you put in back.
That is not fair though as what risk is he taking for the power he has. In my view the debt has had to be paid or how can he take control, so where this £150 million debt is from i cant work that out...the powers that be wont state that cardiff city are in debt to the tune of X amount if it was not true.. Something just dont ring true with the whole business imo..I hope the directors at cardiff are not being blackmailed into something that has gone on to far to get out of...
Dai, Since the last accounts were shown £118M in debt, Tan has bought 98% of the company and paid for £50m in transfers not hard to work out is it? He is in the process of turning that into equity, once done CCFC will have no debt but it's shares will be 98% his. If his dream comes to fruition in 4 or 5 years... A top 6 Prem team, 35,000 stadium, state of the art training felicity etc. I think his controlling interest would be worth a hell of a lot more than £150/200M. EDIT In 5 years TV money will be close to £100M, if things goes his way re the Far East & Europe that will be small change.
Aren't you concerned that if you go down, he'll piss off home to Malaysia and leave you in the lurch? I mean, if my dream comes true, I'll win the lottery on Saturday, but the reality is that I probably won't.
I think you are looking at the wrong club. Billionaire owners are few and far between, Chelsea and Man City have billionaire owners so have QPR to go in the other direction. Cardiff also has a billionaire owner. The smaller clubs have owners with limited millions to spend so they will be the ones more likely to go and leave those clubs in trouble. Look at which clubs need to sell before they can buy that will be the clubs at risk. Cardiff do not need to sell before they buy. jck
will he get his money back if he does that? if he would have sold up in the next year or two i would have thought it would have been in the summer when we went up.
No not concerned at all, if he walks he will lose big time. He did not become a billionaire by doing that, he knows that profits can be found in football but they won't come overnight and with the words of Dalman saying he wants OGS to stay 5 years it looks they are planning well into the future.
you say he will lose big time dai but it's peanuts to a billionaire. But this is not the question is it, the question is Why is there still a huge amount of debt that Cardiff owe not tan that should have been cleared or that is what your fans and everyone else was led to believe when he took over, Not only has it not been paid it has increased by more than a third, This is what is strange because as have been said he has billions in the bank so why does he not clear it once and for all instead of adding to it by millions per month in interest that any debt would incur of that size of debt.....He is losing millions not trying to make millions....it just don't add up...
