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Sam Hammam has been replaced as chairman by former Leeds boss Peter Ridsdale at Championship leaders Cardiff City. It is hoped that the move will speed up the Welsh capital club's stadium project which has been beset by delays. Since he arrived at the Bluebirds in 2000 Hammam has seen the club promoted twice, but has also run up debts of £30m. Last year three of the club's leading players had to be sold to avoid administration. Now Hammam has sold his majority shareholding and the club has announced that 'an agreement has been reached for a debt equity swap with institutional hedge funds, who have acknowledged the huge potential that exists with Cardiff City.' The £35m stadium project involves a large scale retail development, but Cardiff City council have been reluctant to give the project the green light until the club could provide assurances that the viability of their proposals. For Ridsdale, his new role shows that being associated with financial disaster at one club does not undermine your cerdibility in relation to new projects.
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