‘ CARDIFF CITY FINANCIAL SITUATION ‘

By Keith Morgan (Since 1962)

I feel that the club is far better run financially now than it has been in several years, both under Sam and in the first 4 or 5 years of the Vincent Tan era. Ken Choo is a far better CEO than Simon Lim was and seems far more willing and able to go through the steep learning curve of football knowledge. Is he perfect? No, but who is? After he finishes his stint as manager, I would like to see Neil Warnock to remain at the club as a part time Director of Football or similar to give that extensive football knowledge input.

I do believe that the club will now be made debt free. I have been impatient, and expressed my impatience to the club’s directors, about it taking so long since the announcement that it was “imminent” back in February. However, the facts that a shareholders meeting has now been called to create the new shares necessary to enable the debt to equity to take place, and that the May 2016 audited accounts going to the League next week will include a note confirming VT’s commitment to complete the transaction both lead me to believe that it is being progressed towards finalisation. Also the first of the 5 annual £8m debt reductions has already happened.

The club faces an ongoing financial struggle even after the debt write offs as parachute payments reduce( and disappear altogether after next season) and I am certain that 2 or 3 players that the manager and fans would rather not leave will have to be shipped out in January to generate transfer fees and wage savings to enable NW to bring in the couple of players that he has identified he wants to bring in to improve the starting eleven. Overall, including fringe players who have little hope of getting in the team, I see as many as 6 or 7 leaving to bring in 2 or 3.