' Tan Clears Cardiff Debt '

Thursday 18th December 2014

' Tan Clears Cardiff Debt '

viewtopic.php?f=2&t=151634

It's now been confirmed that owner Vincent Tan has now cleared some of the club's historic debt.

The debt cleared by Tan relates to the building of the new stadium back in 2009 and also debt built up on player purchases under previous owners.

Having now fulfilled his promise to 'consolidate third party debt' it's believed that the amount now owed by the club to Tan could ruse above the £150million as estimated last May.

Following these actions Tan remains the only creditor with a legal claim over the club's assets apart from Cardiff City Council.

These payments were settled several months ago but have only just become public as new's broke of the formal lifting of legal claims on the club's properly with Companies House.

Whilst this lifts one worry, the Supporters Trust have now called on Tan to honour his other consideration of converting the owed debt into equity and leaving us completely debt free because with the sums involved the club still couldn't afford to pay them back if they were called in.

I for one am grateful for this move.

So now as promised over the last few years,on numerous occasions, Tan needs to keep to his word and change the Debt to Equity

As far as I can see, the club still has exactly the same amount of debt, it just owes somebody else the same amount of money that it did previously.. Until he converts this into shares, the club remains up to it's eyes in debt.

Hardly cleared the debt, just more money we owe Tan. It's like paying off 1 credit card with another credit card

According to the news what tan paid off becomes his debt? Only what he personally loaned the club is ours debt! Or is that not correct?

not sure if im right but isn't tans debt interest free NOW
wonder how much interest the old debts were incurring
im lead to believe the ray ranson debt was originally charging 50% ffs
if credit is due to tan ffs lets give it to him
maybe just maybe tan is trying to get our club self suffiecent before doing the final act of debt to equity
also the way its being reported is the recently paid of debts to date are owing to tan not to our club
anyone got the real facts for us to see ffs

not sure if im right but isn't tans debt interest free NOW
wonder how much interest the old debts were incurring
im lead to believe the ray ranson debt was originally charging 50% ffs
if credit is due to tan ffs lets give it to him
maybe just maybe tan is trying to get our club self suffiecent before doing the final act of debt to equity
also the way its being reported is the recently paid of debts to date are owing to tan not to our club
anyone got the real facts for us to see ffs

Steve Tan is never going to do the debt to equity on the scale we are hoping. He would lose face in the business world because the club is just not worth that value. All the attention seeking broadcast fro the Trust will not change him.

Tan will get our club self sufficient. No more high profile signing for us. Once we has the books balanced guess where the parachute payment will be going.

I will say in two years time he will be in a position to sell the club at a reasonable pice where he has lost nothing. Debt to equity....forget it.

viewtopic.php?f=2&t=151634

spot on bakedalasker

not sure if im right but isn't tans debt interest free NOW
wonder how much interest the old debts were incurring
im lead to believe the ray ranson debt was originally charging 50% ffs
if credit is due to tan ffs lets give it to him
maybe just maybe tan is trying to get our club self suffiecent before doing the final act of debt to equity
also the way its being reported is the recently paid of debts to date are owing to tan not to our club
anyone got the real facts for us to see ffs

Steve Tan is never going to do the debt to equity on the scale we are hoping. He would lose face in the business world because the club is just not worth that value. All the attention seeking broadcast fro the Trust will not change him.

Tan will get our club self sufficient. No more high profile signing for us. Once we has the books balanced guess where the parachute payment will be going.

I will say in two years time he will be in a position to sell the club at a reasonable pice where he has lost nothing. Debt to equity....forget it.

It is virtually impossible for our club to balance the books at Championship level due to the high level of fixed costs like stadium maintenance and depreciation,minimum staff costs etc even with a big cut in the playing budget.In our previous season at this level we lost over £30m. With this seasons £23m parachute payment we can cope , but it drops to £18m next season , then to two seasons of only £9m each.