http://www.bbc.com/sport/0/football/27358728 Says he will convert 50 million debt to equity , leaving 100 million in debt until they return to PL. HMMMM.
The man is a danger to cardiff big time. He is not a multimillionaire for being stupid and he is still holding a gun to the clubs head, I actually feel sorry for the long term fans who have seen their club being torn apart and unrecognizable to the club they have supported all their life. Its about time he put up or move on because he has been there a long time now and should have cleared all the debts like he promised when he first took over.....Its plain to see that he has no intention of paying off any debt when he has £100 million still hanging around cardiff's neck. Cardiff will never return to the premiership with baby face in a month of Sundays.
Tan has taken Cardiff farther into the red , on more than one level . The way he has treated fans opinions and feelings goes well beyond disrespect .
Dai, in many ways, from Tan's perspective, it is better to have his money as debt rather than equity. Any free cash, generated from player sales, monies from the PL etc can be transferred to him to reduce the debt owing to him. If his investment is entirely converted to equity, getting his hands on free cash could be more difficult.
the deal as the fans saw it was that tan was taking over the club and paying off all the debts which was estimated at around the £50m To £85m which ever report you choose to believe as correct. which ever one it still is a colossal amount of money and tan said he was going to put £100m into the club to clear all debts. Well that never happened did it and all he has done is loaned the club money that paid most of the debt but now they owe tan instead. during his time the debt has grown to around £150m and what he is doing now is using £50m from the money cardiff got from the premiership to pay off some of the debts but still keeping £100m as an assurance that he will not be out of pocket should he decide to call it a day...To me that is not buying the club at all so why the hell is he there. He must realize there is very little chance of making any money with cardiff and especially now they are back in the lower leagues and very unlikely to ever get back to the big time for a very long time.
Hold on a second, so 50 million to equity and still 100 million debt? Jesus! Where did the extra £20M debt come from over just the last 3 months?!?!?!?! They were £130M just March!!! That club is screwed!
The debt has nearly trebled since he has been there but he is not actually using his own money as the £100m he loaned the club is still in his hands...crafty git..If he continues to stay there then just by a conservative estimate the debt will rise to well over £200m with in two years.
Ahh... life is good We did tell them and have been telling them for years and years, they didn't want to listen and thought they knew best, lauding it over Swans fans that they were owned by a billionaire etc,etc the more deluded even telling us they were debt free !! .. They basically deserve all they get, i hope they end up like Pompey and go down to L2 with Lego land converted into a car park ,it probably wont happen mind, far too many influencial people prepared to bend rules to keep the welsh capital with a football club,by hook or by crook . Im gutted for my friends who are big Cardiff fans but hey collectively there were enough people to force a change but deep down they didnt want to .
Plans are afoot in The Assembly to adjust the boundaries,with Swansea and Newport disappearing. Cardiff will then stretch across more than half of South Wales. I kid you not.
That's the only way they could ever secure Premier League football again. You wouldn't deny them that,would you?
