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.
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.