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Cardiff City's troubles continue

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Submitted by WG on Wed, 07/07/2010 - 09:10

Cardiff City's troubles continue.   The club is facing a fresh winding-up petition over the £1.3m it owes HM Revenue and Customs.   The club insists that the bill will be settled this week, but if it isn't Cardiff City could face a court appearance on August 11th, just days after the opening match with Sheffied United on August 8th.


The club also owes £1.5m in transfer fees to Sunderland for Michael Chopra, which is due this month.  The club insist they have agreed a payment schedule with Sunderland.   However, this leaves open the question of why it has not been possible to settle both bills fully and on time.  This suggests that there is a cash flow problem which can afflict any business which is potentially viable.


New Malaysian investors, led by club chairman Dat Chan Tien Ghee, have invested almost £6m into the club giving them almost 40 per cent of shares.    Given its catchment area and new stadium, the club's prospects remain promising in the medium term.

Related Clubs: 
Cardiff City AFC. | Cardiff City Football Club (Holdings) Ltd