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Building D5
Fairoaks Airport
Chobham
Surrey
GU24 8HU
Tel: 0871 399 0089
Fax: 01276 858010
View map
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Americans in the running to takeover Cardiff City
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Cardiff City may be bought by Americans within two months according to Walesonline. The club, which has been dealing with money troubles, had representatives from the American investors at the home game against Blackpool recently. The takeover is currently estimated at GBP 40 million GBP 23 million will be used to pay off debts. The talks with the Americans are expected to step-up in the coming week.
In the meanwhile the club is also dealing with an outstanding tax bill of GBP 2.7 million from Her Majesty’s Revenue and Customs (HMRC). According to the BBC, the Bluebirds are facing a second winding-up petition set to go to court on February 10th based on a petition issued on December 23rd 2009. Cardiff City chairman Peter Ridsdale is confident that the issue will be resolved by the end of January. "We have every confidence that all monies owing to HMRC will have been repaid by the end of January." Risdale sees no imminent threat to the club and they have just recently dealth with the first winding up order on December 16th after working out a payment plan with HMRC. The evidence of the growing American interest has raised questions about the continued involvement of the Malaysian investors. This group has been most notably represented by Dato Chan Tien Ghee when he was recently appointed as a director. The Malaysians are said to be in regular contact with Ridsdale and they are interested in increasing their involvement in the club. Right now, though, the Americans seem to be in a position to move forward quickly. A person in the know, in Cardiff City, said “The Americans are keen on reaching agreement quickly. The backers are billionaires – and they believe Cardiff City would be a good investment. Talks continue with the Malaysian connection and Dato Chan is due over in the near future for more talks. But the Americans are keen to get on with things – and they have the money needed.” There is another interesting element to the situation at Cardiff because Guernsey millionaire Ben Steele has also emerged as an interested investor in the last few days. Steele, unlike the Malaysians or the Americans, does not seem interested in a complete takeover but in making a major invested for a significant share in the club. |
