A shame this didn't come out earlier. Perhaps then some money could have been retained from Ridsdales settlement. What happened to due diligence in this case?
I do not understand how this wasn't seen, it's certainly a case of the accountants not fully informing VT, even he would think around 500k unaccounted for would need some explaining. I am not implying dodgy accounting just the owner not being aware of this debt.
Looks like VT has picked up another tab from Ridsdale's past exploits. The man was reckless with other people's money - none of it was his. Jones was well overpaid in Championship terms but if he was genuinely owed it, then he should get it. I just wonder how much it took for him to back off so comprehensively. I doubt he'd have got anywhere near the amount he was claiming to avoid a drawn out court case in which he'd have had to establish reasonable proof of his claim. Half a loaf and all that? At the same time, nice to see the honest principles of our current owners shining through - so different from the recent past.
If it was a "verbal agreement" mostly, then it wouldn't have shown up in accounting I would guess. Although why nobody mentioned it is a puzzle, who knew is the question?
Correct but the verbal agreement was only for the FA cup bonus, the rest was on the books so approximately 450k debt was 'hidden' in the accounts.
It's sorted, that's the main thing. And I says DJ and Cardiff City reached an amicable agreement. It doesn't say h go everything he asked for. That would not have been amicable for the club. But the way it was dealt with promptly and quietly speak volumes about the way the club is doing it's business. I think it's a good sign.
