Cardiff lost £12m during their stay in the PL. Their debts now total £174m http://www.walesonline.co.uk/sport/...cardiff-city-accounts-bluebirds-lose-8727278?
tan will never pay that amount in a million years. i think behind the scenes he is preparing to bail out taking what he can lay his grubby hands on....he will leave them double the debt than when he first took over......
I reckon the best thing cardiff can do is to give GWYN DAVIES, from Cwmaman a ring and see if he is available to take over the club. He seems like he knows how good cardiff are.....
Davina Wood • 3 hours ago Yes they are technically "loans". But see it this way: they are in another way ...GIFTS. How come? Remember the famous dictum: "when you own the bank a few hundred thousand Pounds, the bank owns you. But when you owe the bank a few hundred MILLION Pounds, you own the Bank." And thus in this case, we Bluebirds fans really OWN our bank (i.e. Mr Vincent Tan). We should go down on our knees to thank him for investing a small fortune in our club, when no commercial banker worthy of the name would touch Cardiff City with a bargepole. Vincent is in too far now to be able to cut his losses and run. That is why I say he is the greatest benefactor this club has ever known. And so when he returns for the Wolves game, treat him with best Welsh hospitality. It will be many years before he gets any profit from his amazing investment. We'll keep a welcome in the hillside. What is it with them about going down on their knees or touching their toes ?
"In the accounts, chairman Mehment Dalman reveals in his statement signed July 2014 the club had hopes for automatic promotion back to the Premier League, the accounts reiterating promotion to the Premier League in May 2015 as part of its its outlook summary." You'd have thought they'd have learned a lesson when Risdale was flogging golden tickets to buy top players ,That didn't happen either
Sam the man to the rescue that will be the next thing we will hear. They just cant emulate us at all and whatever they do always seem to be a stop gap that ends up in a worst position than they were in previous...Tan he is so funny because all this fuss with the colour of the shirt he is sticking two fingers up to the fans by continuing to wear his Red shirt...
To be honest this is getting way beyond a joke! they are truly stuffed, and Tan's inept leadership has only added to the previous debts, I really think they have gone to the point of no return, best to go into admin and cop 10 points in my view and kick the Idiot out............
They do that and get relegated they could end up folding. They're really are on the brink of no return. We did warn them.
Thing is, Tan is a dollar billionaire, he's 'only' worth about 800-900 million pounds. For him to pay that debt off will be sacrificing a massive chunk of his total net worth. Something I can't ever see him doing. He will strip that club down to its bare bones then sell to the highest bidder imo before giving up 170 odd million. They are safe from relegation this season, but if they were to go down next season I can honestly see them doing a Pompey. They lost 12m In their premier league season, next years accounts are going to be ****ing horrendous.
Not that I take much interest (unlike Tan ) but isn't a good deal of the £174,000,000 owed to him? What really hacks me off (and it isn't only Cardiff) is they have spent money they don't have to be a poor Championship side yet others who have been prudent get relegated. And, just think of the impact £174,000,000 could have on well run teams in the Premier League let alone the 2nd, 3rd and 4th tiers! Listening to a radio Wales programme after one our games a few weeks ago and someone like Ian Walsh commented that Cardiff should have brought in more quality in January (Mind you, they have always said on RW Swansea would have to spend big to stay in the Premier League.)
The Cardiff site has a thread called 'joke thread' that they thought would have nothing to do with football! Made me laugh.
The big problem for Tan being owned so much via loans to Cardiff is that he already owns Cardiff, so the club itself is one of his assets. He owes himself money so if the club went bust he has nobody to chase for that money, it has provided him no security whatsoever. When we look at Tan's worth it includes cash and assets, so it is between £800-£900 million and he owns the club plus some bigger companies in Malaysia plus the national lottery there. His cash reserves are not big enough to be a major Premier League club owner so the whole top six idea was a funny joke. An indication of how little real cash he has is the fact Tan tried to sell shares in one of his businesses to the government for thirty times there real value, his little scheme came crashing down however when a new government came to power and he had no links to them so they pulled the deal and Tan was forced to go real route of selling shares, he got less than the real asking price on the market indicating his business was not doing too well. Can Tan just pull out of Cardiff? Sure, but he can't force the club to pay back the millions because he owes himself that money. What an idiot he is
Richard Hart Davina Wood • 2 days ago I thought Mr Tan had converted £100m into equity....with the rest (£50m at that time) still in loans??. 7/8% in these times???? I say again - it would be better to place the club into administration...take a 10 point deduction (and probably now still be ok) and try and get some sanity into running this club along the lines of Swansea ( ie living within their means).
