CCFC FINANCIAL BATTLE AND DIRECTOR DISPUTE
‘ CCFC FINANCIAL BATTLE AND DIRECTOR DISPUTE ”
By Annis Abraham
After ten years of disputes, is it really over ???
On Monday February 1st 2016 at the High Court in London, Langston Corporation versus Vincent Tan/Cardiff City case went ahead.
After years of claiming Langston would never be paid, all these years drip by drip, Langston managed to get £16.25m paid.
Quarterly Payments of £250k were stopped approximately one year ago by Vincent Tan to Langston.
I believe £2m was spent by Vincent Tan/CCFC on this case plus approximately another £1m was spent on due diligence and forensic accountants.
The club could have continued to drip feed Langston every quarter up to the year 2020 for a figure of a total £5.75m, instead the following has happened:
Due to this court case £5m is ordered to be paid within 30 days to Langston and approximately £2m as a bonus payment if and when Cardiff City are ever promoted to the Premier League, Sam Hammam stays as Life President of CCFC, Michael Filiou is still a director on the board of CCFC as Sam Hammam’s representative, Michael Isaac stays on the board of Cardiff City Holdings, which owns Cardiff City FC outright.
A question to everyone, isn’t it true that most football club owners loan money to their clubs, so is it not true that Vincent Tan has loaned CCFC money, Mehmet Dalman has loaned CCFC money, so what is the difference between Sam Hammam and the others mentioned loaning money ?
I have always believed that Sam Hammam was a representative of Langston.
Still waiting to see evidence of where it states Sam Hammam is Langston ???
I await to see this evidence.