" GREAT MALAYSIAN STATEMENT "

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

Hear hear!!

GWYN do you think the forensics are looking at ways of not to pay langstone thats impression i got just my view of course

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

Sorry Gwyn, but the only reason they're getting the forensic accountants in is because they don't think they need to pay the bill, or certainly not all of it. Clearly if they believe they owe him anything at all it will be a lot less than the £10million they didn't bother paying off last year.

I was wondering who'd be the first to put their head over the parapet and onpurposely misinterpret the statement.

I'm holding back opinion on what happens until the next season starts and finishes but I am glad the club are taking the action they are. Sacking Jones was needed but I am anxious as to whether Jenkins and Whiteley can find the right man. Jenkins has improved in his role, there's no doubt about that but he still has a lot to learn and I am sure he'll make mistakes in the future. I'm excited about this new era though. The club needed some new life breathed into it.

GWYN do you think the forensics are looking at ways of not to pay langstone thats impression i got just my view of course

yes thats what I was thinking too .

I think VT & TG will payoff Langstons but not a single penny more than they have too, but they will definately settle this matter in my opinion.

settle as little as poss if anything they are a bit sharper than sam

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

Yes I thought it was a Great Statement to, they are stating publicly that they will continue to be Committed to OUR CLUB CARDIFF CITY and that they will now be sorting out all the Debts. As I have always Stated Cardiff City comes FIRST and THATS ALL THAT MATTERS WITH ME.

Heres to the Future of Cardiff City


ONWARDS and UPWARDS

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

The circumstances behind the original loan and the application of the funds remain difficult to establish to the satisfaction of the Board and as a result the Club has engaged third party forensic accountants to further investigate the issue of validating the legitimacy of the loans and expenditure incurred when the Club was under the full management control of Mr Sam Hammam.
This wouldn't make very good reading if I was Sam Hammam. He is not dealing with fools here. He has 2 options as I see it. Come to an amicable settlement or let it go through the courts. Methinks Sam will blink first.

Last edited by ihatealiens on Tue May 31, 2011 1:53 pm, edited 1 time in total.

Yes I thought it was a Great Statement to, they are stating publicly that they will continue to be Committed to OUR CLUB CARDIFF CITY and that they will now be sorting out all the Debts. As I have always Stated Cardiff City comes FIRST and THATS ALL THAT MATTERS WITH ME.

Heres to the Future of Cardiff City


ONWARDS and UPWARDS

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

Sorry Gwyn, but the only reason they're getting the forensic accountants in is because they don't think they need to pay the bill, or certainly not all of it. Clearly if they believe they owe him anything at all it will be a lot less than the £10million they didn't bother paying off last year.

I was wondering who'd be the first to put their head over the parapet and onpurposely misinterpret the statement.

Which bit did I misinterpret, but i have only read the statement I seen on here, so apologies if i've missed something. I know Sam is pleased about the move because finally there is some action on the debts, and at the end of the day if i had to pay off 24 million pound debt, then i,d be asking for interpol to check it out first,if he got nothing to hide then he got nothing to worry about. It will be strange scenario to have the clubs legal rep Alan Whitely checking it out when he's allegedly under investigation himself for fraud. Personally i can only see good coming out of this and can't wait till its sorted. Again apologies if i,ve misread the situation.

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

Sorry Gwyn, but the only reason they're getting the forensic accountants in is because they don't think they need to pay the bill, or certainly not all of it. Clearly if they believe they owe him anything at all it will be a lot less than the £10million they didn't bother paying off last year.

I was wondering who'd be the first to put their head over the parapet and onpurposely misinterpret the statement.

Which bit did I misinterpret, but i have only read the statement I seen on here, so apologies if i've missed something. I know Sam is pleased about the move because finally there is some action on the debts, and at the end of the day if i had to pay off 24 million pound debt, then i,d be asking for interpol to check it out first,if he got nothing to hide then he got nothing to worry about. It will be strange scenario to have the clubs legal rep Alan Whitely checking it out when he's allegedly under investigation himself for fraud. Personally i can only see good coming out of this and can't wait till its sorted. Again apologies if i,ve misread the situation.

Do you honestly think that the Club (or Malaysians if you want to put it that way) actually owe and will pay £24m?

If that is the true figure, I'm sure the forensic accountants will indeed verify and approve it. Don't think it'll be remotely close myself and can see Sam buckling at the end. We'll see.

good strong statement, pleasing.

For all the shit they have had this week, I think they have done things spot on. No rash decisions, reviewed everything then took decisive action (sacked Jones) and issued a strong positive statement

good strong statement, pleasing.

For all the shit they have had this week, I think they have done things spot on. No rash decisions, reviewed everything then took decisive action (sacked Jones) and issued a strong positive statement

Yes Luke, lets hope they Now put it All in To Action, THEN IT WILL BE ONWARDS and UPWARDS for THE MIGHTY BLUEBIRDS

Great statement, perfectly timed and I think you can sum them up in one word - "Professional".

Also great to see the statement being received by ALL Bluebirds - finally it appears something we can ALL agree on

Gwyn, my understanding of the article implies that Whiley won't be having anything to do with it, they are drafting in an external firm of forensic accountants. People like that will find 10p stuffed behind your oldest sofa, so one way or another this Langston business seems set to be put to bed once and for all.

It also seems to draw a line under any prospect of Sam returning to the club, some people may like that, others may not, and that's fair enough, hopefully though, it's one less thing for our two MB's to argue about!

I sense harmony and a positive future to look forward to!

By having "third party forensic accountants" to look at Langstone (Sam) these people dont come cheap, its making me more and more confident that VT and TG are here for the long haul, and the future of Cardiff City FC are in safe hands.
With VT and TG in charge I know we will be Premier League very soon.

Considering the original debt was £24m and Sam was willing to accept £10m, it would appear to me that the forsenic accounts are more likely to find cash that Sam is owed and increase the £10m settlement rather than the other way around

Considering the original debt was £24m and Sam was willing to accept £10m, it would appear to me that the forsenic accounts are more likely to find cash that Sam is owed and increase the £10m settlement rather than the other way around

I`ll have a £50 charity bet with you Tony that when their report comes out of what they have discovered , the debt will be settled for less than £10m.

It will take us a time for fans to find out officially though - not until the 2011 accounts are published I suspect - as the settlement terms will be subject to a confidentiality clause.

Keith

Considering the original debt was £24m and Sam was willing to accept £10m, it would appear to me that the forsenic accounts are more likely to find cash that Sam is owed and increase the £10m settlement rather than the other way around

I`ll have a £50 charity bet with you Tony that when their report comes out of what they have discovered , the debt will be settled for less than £10m.

It will take us a time for fans to find out officially though - not until the 2011 accounts are published I suspect - as the settlement terms will be subject to a confidentiality clause.

Keith

I was posting with tongue firmly in place. But if Sam does get more than £10m I'll donate £50 to the young guns so you can do the same if you like Keith

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

Sorry Gwyn, but the only reason they're getting the forensic accountants in is because they don't think they need to pay the bill, or certainly not all of it. Clearly if they believe they owe him anything at all it will be a lot less than the £10million they didn't bother paying off last year.

I was wondering who'd be the first to put their head over the parapet and onpurposely misinterpret the statement.

Which bit did I misinterpret, but i have only read the statement I seen on here, so apologies if i've missed something. I know Sam is pleased about the move because finally there is some action on the debts, and at the end of the day if i had to pay off 24 million pound debt, then i,d be asking for interpol to check it out first,if he got nothing to hide then he got nothing to worry about. It will be strange scenario to have the clubs legal rep Alan Whitely checking it out when he's allegedly under investigation himself for fraud. Personally i can only see good coming out of this and can't wait till its sorted. Again apologies if i,ve misread the situation.

Gwyn

I am not sure I agree with Bornsurvivor that you are deliberately misinterpreting the club`s official statement, but I can`t see how you say Sam will be pleased with it as the statement says at least 3 things that he can`t be pleased with at all

1) that he has been virtually impossible to deal with in the negotiations re the Langston debt , in direct contradiction of Sam`s claims about friendly "cosy chats", so they have effectively given up trying

2) that they want to bring in independent forensic accountants to investigate how the debt was run up in the first place and exactly what Sam did with the money during the period in which he was in control of the club , calling into question his stewardship of the club and its funds

3) that they will never envisage a future role for him at the club , again in direct contravention of what Sam has been implying , largely through either this messageboard or a "tame" local sports journalist.


The most pleasing thing in the whole statement must surely be that the new owners are looking forward and have pledged their support for a future promotion push under whatever team they put in , both on and off the field.

Which bit did I misinterpret, but i have only read the statement I seen on here, so apologies if i've missed something. I know Sam is pleased about the move because finally there is some action on the debts, and at the end of the day if i had to pay off 24 million pound debt, then i,d be asking for interpol to check it out first,if he got nothing to hide then he got nothing to worry about. It will be strange scenario to have the clubs legal rep Alan Whitely checking it out when he's allegedly under investigation himself for fraud. Personally i can only see good coming out of this and can't wait till its sorted. Again apologies if i,ve misread the situation.

"3rd Party Forensic Accountants " might suggest it's not going to be Alan Whitely . Let's hope it is all done properly and justice prevails. We all want what is best for Cardiff City and I like you Gwyn think this statement is a decent step forward.

by TH63 » Tue May 31, 2011 2:45 pm

Great statement, perfectly timed and I think you can sum them up in one word - "Professional".

Also great to see the statement being received by ALL Bluebirds - finally it appears something we can ALL agree on











TH63, If they act out their intentions, Then I for one am ALL FOR IT

by TH63 » Tue May 31, 2011 2:45 pm

Great statement, perfectly timed and I think you can sum them up in one word - "Professional".

Also great to see the statement being received by ALL Bluebirds - finally it appears something we can ALL agree on











TH63, If they act out their intentions, Then I for one am ALL FOR IT

On reading that statement their intentions, are to not have Sam Hammam anywhere near the club again! and further to question the amount and validity of the debt Landston is owed by the club, surely that flies in the face of what you have been advocating along? I'm confused mate.

Gave me a bit of a lift to see some positive moves. Get the right man in now and build.his own.squad. I'm sure Sam will be pleased to hear they are finally going to deal with the debts,hopefully the forensic accounting wont take to long and we can pay the bill and.finally move on, see this as a real positive that they finally taking full control, so lets push on, hopefully with a top class manager and a realistic budget for him to work with,Gethin appears to be handling the pressure well and perhaps he deserves a bit of credit, be a lot mor releaved when the bills are paid apd here's hoping for a settled future.

Sorry Gwyn, but the only reason they're getting the forensic accountants in is because they don't think they need to pay the bill, or certainly not all of it. Clearly if they believe they owe him anything at all it will be a lot less than the £10million they didn't bother paying off last year.

I was wondering who'd be the first to put their head over the parapet and onpurposely misinterpret the statement.

Which bit did I misinterpret, but i have only read the statement I seen on here, so apologies if i've missed something. I know Sam is pleased about the move because finally there is some action on the debts, and at the end of the day if i had to pay off 24 million pound debt, then i,d be asking for interpol to check it out first,if he got nothing to hide then he got nothing to worry about. It will be strange scenario to have the clubs legal rep Alan Whitely checking it out when he's allegedly under investigation himself for fraud. Personally i can only see good coming out of this and can't wait till its sorted. Again apologies if i,ve misread the situation.

I'm not sure why Sam is pleased Gwyn they obviously want to pay him as little as possible!!

Presumably TG and VT have had their own financial people at Berjaya already looking financially into Langstone/Sam and for them to now employ third party forensic accountants suggests to me that they have found things which may concern them regarding the Loan Notes from Langstone.

Don't want to piss on your party, but firstly although the wording is 'third party forensic accountants', consider who they are being employed by, and in my view that gets rid of the 'third party' part of the statement. Secondly, these are very rich businessmen, who by all accounts could have settled the argument by 31st December by paying off Langston just over 40% of the quoted debt but purposely chose not to? Why did they not choose to go down this route if their commitment to the Bluebirds is 100%, and thirdly, if the forensics come up with a figure well short of the debt valuation of Langston then do you think that Hammam will just lay down and accept their verdict? Doubt it. I hope that everything is sorted out and that the club does prosper. but just beware. Most football club owners are not in it for the supporters benefit but for their own, either to try and make a few quid or stroking their own ego. I should know, we have had enough shite owners at QPR.

Don't want to piss on your party, but firstly although the wording is 'third party forensic accountants', consider who they are being employed by, and in my view that gets rid of the 'third party' part of the statement. Secondly, these are very rich businessmen, who by all accounts could have settled the argument by 31st December by paying off Langston just over 40% of the quoted debt but purposely chose not to? Why did they not choose to go down this route if their commitment to the Bluebirds is 100%, and thirdly, if the forensics come up with a figure well short of the debt valuation of Langston then do you think that Hammam will just lay down and accept their verdict? Doubt it. I hope that everything is sorted out and that the club does prosper. but just beware. Most football club owners are not in it for the supporters benefit but for their own, either to try and make a few quid or stroking their own ego. I should know, we have had enough shite owners at QPR.

Sorry, your view is arse about tit based upon everyone's experience of the malaysians.

The statement is pretty clear.

They suspect the whole langstone paying off / taking over Citibank debt may not have been kosher. The are employing forensic accountants to investigate that end. They are also investigating all financial dealings during Hammam's reign. That speaks volumes.

To answer your points,

1) Forensic accountants provide a report based upon the provided accounts, I'm sure Since62 can go into much greater detail about their activities. To basically lie, well, I;'d imagine they'd be in fair bit of trouble.

2) If they believe that there was something not quite right about the whole deal, which if proven could reduce the liability to precisely zero, then they have every right to investigate. And if it turns out there was something non-kosher about it...

3) Hammam may well dispute it. He'd be challenged to do so, in a court of law. He oops Langston would have to bring the case, they would have to prove beyond doubt their assertions. And it would be interesting to see why, if claiming 24m is owed, he/they would have settled for only 40% of the debt... 14m is a lot of money.

gut feeling, malaysian guys are no mugs. They smell something fishy, looking for the smoking gun. Which I'd suspect would lead to it all being settled for less than 10m or going to court. And I'd suspect if it went to court, a lot may come out Langston may not want to be made public.

So, it'll probably be a super injunction then...

Don't want to piss on your party, but firstly although the wording is 'third party forensic accountants', consider who they are being employed by, and in my view that gets rid of the 'third party' part of the statement. Secondly, these are very rich businessmen, who by all accounts could have settled the argument by 31st December by paying off Langston just over 40% of the quoted debt but purposely chose not to? Why did they not choose to go down this route if their commitment to the Bluebirds is 100%, and thirdly, if the forensics come up with a figure well short of the debt valuation of Langston then do you think that Hammam will just lay down and accept their verdict? Doubt it. I hope that everything is sorted out and that the club does prosper. but just beware. Most football club owners are not in it for the supporters benefit but for their own, either to try and make a few quid or stroking their own ego. I should know, we have had enough shite owners at QPR.

I think we can assume that they chose not to settle the debt at the reduced amount of £10 million, as they feel confident, that they can get it much lower than this, we don't know how yet, but I'm sure that the introduction of the forensic accountants will answer that question.
I'm sure they would have known all this when they took over the club, that's why they haven't as yet complied with any arrangements to pay Langston anything. They were supposed to pay £80k a month, but there's no evidence of that. I'm sure they will get it to a level, that they are happy to settle, rather than drag it through the courts, and this would go the same for Sam and Langston also.
This Langston debt is not the big issue here, never has been, it's how the owners can wrestle the club away from PMG as quickly as possible, and get us moving forward without their influence hanging over the club.

Off the top of my head I can think of £3.5m paid by Sam to buy Cardiff in 2000, £1.7m for Thorne, £800,000 for Gabbidon, £500,000 for Gavin Gordon £1m for Kavanagh, £500,000 for Rhys Weston and £600,000 for Chris Barker.

That's £8.6m without factoring other transfer fees I forgotten about or wages over a 5 year period. I would a figure of £10m would easily be obtainable and probably a lot higher if you consider all the money spent on youth delevopment and stadium planning.