" A NEW DIRECTOR AT CCFC "

was involved in the dealings with mufc when the glaziers were negotiating for power.

As far as I'm concerned that's far from a good thing. The Glazers have angered and shafted a hell of a lot of people with regards to the United takeover and look at that club now. Over half a billion worth of debt and struggling badly in the face of Middle Eastern superiority across the road.

At the start of Man City's game tonight, Man Yew were level on points with them.

If that's your definition of "struggling badly"...

Think he meant it from a financial point of view, the way the glaziers used Utd to pay off there own family debts was disgusting.......money laundering if you ask me.

The majority of the cash used by Glazer to purchase Manchester United came in the form of loans, much of which were secured against the club's assets, incurring interest payments of over £60 million per annum. The remainder came in the form of PIK loans (payment in kind loans), which were later sold to hedge funds. Manchester United is not liable for the PIKs. The PIKs are held by Red Football Joint Venture Ltd and are secured on that company's shares in Red Football Ltd (and thus the club). If they are not repaid by 2017, the Glazers will almost certainly lose all their shares in Red Football Ltd (and the club) to hedge funds. The interest on these loans rolls up at 14.25% per annum. Despite this, the Glazers did not pay down any of the PIK loans in the first five years they owned the club. In January 2010, the club carried out a successful £500 million bond issue, and as of March 2010, the PIKs stood at around £207 million.

Manchester United fans opposed Glazer's takeover of the club, particularly once they realised the level of debt that the club would have to take on after having been debt-free for so many years. Since 2005, the Manchester United Supporters' Trust has been working on a way of returning ownership of the club to supporters; in 2010, they met with a group of wealthy Manchester United fans – dubbed the "Red Knights" – to discuss a billion-pound takeover bid.

The debt taken on by the Glazers to finance the club was split between the club and the family; between £265 million and £275 million was secured against Manchester United's assets. This loan was provided by three New York hedge funds: Citadel, Och-Ziff Capital Management and Perry Capital. The total amount was £660 million, on which interest payments came to £62 million a year. The club stated, "The value of Manchester United has increased in the last year, which is why lenders want to invest in the club... 'This move represents good housekeeping and it ensures that Sir Alex Ferguson will be provided with sufficient funds to compete in the transfer market.'" The Manchester United Supporters Trust responded, "'The amount of money needed to be repaid overall is huge... 'The interest payment is one thing but what about the actual £660 million? It is difficult to see how these sums can be reached without significant increases in ticket prices, which, as we always suspected, means the fans will effectively be paying for someone to borrow money to own their club. Under the terms of the Glazers' refinancing, as they were unable to repay bondholders by 16 August 2010, the overall interest rate on the loans rose from 14.25% to 16.25%, resulting in annual payments of around £38 million.

On 11 January 2010, shortly before an announcement that Red Football's debt had increased to £716.5 million ($1.17 billion), Manchester United announced their intention to refinance the debt through a bond issue worth approximately £500 million.They managed to raise £504 million in just under two weeks, meaning that they were able to pay off almost all of the £509 million owed to international banks. The bonds were issued in two tranches, one with a coupon rate of 8.75% worth £250 million, and the other with a coupon rate of 8.375% worth $425 million.

The annual interest payable on the bond came to approximately £45 million per annum, with the bond due to mature on 1 February 2017.Contained within the bond prospectus are covenants which will allow the Glazers to filter large sums of money out of the club to repay the PIKs by 2015. These include the carving out of £95 million in cash, the sale and lease-back of the Trafford Training Centre at Carrington, and the ability of the Glazers to pay themselves 50% of the Consolidated Net Income of the club every year.

One of two things:

1. An investment, i.e. He has invested in the club or is representing someone who has invested in the club in return for equity. Given a seat on the board as part of the deal.

Or (more likely)

2. A loan. He is representing an investment bank or fund and was given a seat on the board as part of that deal.

he is an independant director of ENRC which is listed as a FTSE 100 company (http://en.wikipedia.org/wiki/Eurasian_N ... orporation) so this guys a big cheese - http://www.enrc.com/en-GB/

Just the word 'hedge' sends shivers down my spine

However, this feller is one of the best known Investment Banker types in Britain
so it would seem imminent that money is coming into the Club from somewhere

Tan said from the start that he would not be carrying Cardiff City on his own and
would want everyone on the board to contribute.

These developments are certainly not the actions of a chancer

This is exciting.

Except for that f*cking 'hedge' word

First reaction is to worry, club has been relatively stable so hoping bringing in a new face doesn't change that too much unless it is in a very positive way. The club has been pretty good at putting this sort of info out quickly on the website so wondering why it is not on there yet unless it isn't a done deal or there is a bigger announcement to come.

Have accounts up to May 2011 been filed yet? They must be due soon, would be interested to see what the current position is and whether that has anything to do with the decision.

We are obviously in a good league position and in the semi of the cup so hoping this is not someone gambling on a quick return for if we are promoted. Could go pear shaped if they are banking on that and it doesn't happen. Carling cup final would be excellent self promotion opportunity for current owners and any new investors.

First reaction is to worry, club has been relatively stable so hoping bringing in a new face doesn't change that too much unless it is in a very positive way. The club has been pretty good at putting this sort of info out quickly on the website so wondering why it is not on there yet unless it isn't a done deal or there is a bigger announcement to come.

Have accounts up to May 2011 been filed yet? They must be due soon, would be interested to see what the current position is and whether that has anything to do with the decision.

We are obviously in a good league position and in the semi of the cup so hoping this is not someone gambling on a quick return for if we are promoted. Could go pear shaped if they are banking on that and it doesn't happen. Carling cup final would be excellent self promotion opportunity for current owners and any new investors.

Going by the pace they have gone at so far I'd be surprised if this new Director
was a rush decision. I suspect he's been on the radar for quite some time. Maybe
Tan is thinking we DO need to spend more on players but its time someone else
started putting a few quid in. Cant fault him. I certainly HOPE that this all has
something to do with an influx of money, and its imminent!

Going by the pace they have gone at so far I'd be surprised if this new Director
was a rush decision. I suspect he's been on the radar for quite some time. Maybe
Tan is thinking we DO need to spend more on players but its time someone else
started putting a few quid in. Cant fault him. I certainly HOPE that this all has
something to do with an influx of money, and its imminent! [/quote]


Have to agree, I thinks much as 3-5 million and Malky will deliver premiership football and guarantee us the money top flight football will provide.

The potential here is utterly madness, can you imagine the influx of additional revenue this club would enjoy...obscene.

was involved in the dealings with mufc when the glaziers were negotiating for power.

As far as I'm concerned that's far from a good thing. The Glazers have angered and shafted a hell of a lot of people with regards to the United takeover and look at that club now. Over half a billion worth of debt and struggling badly in the face of Middle Eastern superiority across the road.

In all fairness to ANYONE involved in the Glazer takeover.

Only the Glazers themselves knew they were going to use
Manchester United like Paulie used that Club in 'Goodfellers'

Didn't we have a guy as director couple of years ago into hedge funds ( whatever they are) he was employed by rissdale Harris I think his name was. Seems a little bit similar to me.

Didn't we have a guy as director couple of years ago into hedge funds ( whatever they are) he was employed by rissdale Harris I think his name was. Seems a little bit similar to me.

Well lets just f*cking hope not

Ridsdale days are gone for good I hope

Didn't we have a guy as director couple of years ago into hedge funds ( whatever they are) he was employed by rissdale Harris I think his name was. Seems a little bit similar to me.

Your on about Keith Harris, the guy is known throughout football to find potential investors or help clubs find new owners, yet he came on board and did very little, waste of space for us.

Sad as it seems I think Ridsdale found VT.... Only decent thing he did.

With Malky being flown out to Malaysia and now this news, hopefully this is the investment to cement our promotion push, if ENRC are pumping money in the sky could be the limit,

Didn't we have a guy as director couple of years ago into hedge funds ( whatever they are) he was employed by rissdale Harris I think his name was. Seems a little bit similar to me.

Your on about Keith Harris, the guy is known throughout football to find potential investors or help clubs find new owners, yet he came on board and did very little, waste of space for us.

Sad as it seems I think Ridsdale found VT.... Only decent thing he did.

TG found us, his son Nick was looking for trials with British clubs and when City offered him a trial, TG met Alan Whiteley and that is where the relationship between the club and TG, then ultimately VT.

Didn't we have a guy as director couple of years ago into hedge funds ( whatever they are) he was employed by rissdale Harris I think his name was. Seems a little bit similar to me.

Your on about Keith Harris, the guy is known throughout football to find potential investors or help clubs find new owners, yet he came on board and did very little, waste of space for us.

Sad as it seems I think Ridsdale found VT.... Only decent thing he did.

TG found us, his son Nick was looking for trials with British clubs and when City offered him a trial, TG met Alan Whiteley and that is where the relationship between the club and TG, then ultimately VT.

Anymore news on Mehmet then Carl?

of course ther is no more at present ,it will drip through ,as and when they see fit, always the same!!

Any Info on him Carl

Not sure I got the right guy but I think he has something to do with ENRC. Are they the ones who have something to do with Spurs?

Cheers Tony ....I'm searching for info online, but can't find a lot

Search Mehmet Dalman that is the name given on the Companies House website as the director appointed on the 10/1/2012

http://en.wikipedia.org/wiki/Mehmet_Dalman

He seems to be an investment banker who purchased 20% share in Man Utd 2004 if it is the same Mehmet ?

the very same

Looks like he was ADVISOR to the US guy who had 20% in Man U (first sentance in link)

http://www.guardian.co.uk/business/2004/oct/02/7

Likely to be loaded, but not in Tan's league.

Question for me is - Is he putting in, or taking out (like Harris), or setting up another ownership change ?
Be nice if the club came out with something official on this to clarify.

I am being advised and told he is very good for our club and a football man, unlike a lot of the current board.

I am being advised and told he is very good for our club and a football man, unlike a lot of the current board.

Annis wot has he been brought in for?

I am being advised and told he is very good for our club and a football man, unlike a lot of the current board.

Annis wot has he been brought in for?

Daniel, Carl will tell you in his next update, all good.

I am being advised and told he is very good for our club and a football man, unlike a lot of the current board.

Annis wot has he been brought in for?

Daniel, Carl will tell you in his next update, all good.

Good stuff mate, glad to hear

Langston representation finally on board

To be honest I think this guy is a Keith Harris type of guy who has been brought into the club to help the Mayalsians offload. Many of the posters on the other board have similar thoughts to this and I firmly believe (which I have done for a while) that this is the start of something very worrying.

People have mentioned his links with both Sam and the Glaziers and lets be honest those two groups (even through had it not been for Sam we wouldn't be anywhere near the champiosnhip) around a football club are enough to send shivers down anyones spine.

This will be a long process but the Malaysian ownership will be shortlived and god knows who next which 'could' put the club in an even worse financial situation if it has anything to do with more bank borrowing together with much higher borrowing rates than before.

One thing is for sure and thats 'if' I am right then there will be many on here with egg on their faces thats for sure.

hope to god your wrong

wow - this sounds exciting actually - plus with mm IN Malasia maybe discussing players All will be revealed

Mehmet Dalman

A veteran investment banker whose clients have included Malcolm Glazer, the Manchester United owner, and Richard Desmond, the boss of the Express newspapers. He was born in Cyprus but went to the London School of Economics and has been based in the capital ever since. He spent seven years on the main board of Commerzbank and was was at Deutsche Bank and Credit Suisse .

Mr Dalman is no stranger to corporate dramas: he was on the supervisory board of Deutsche Borse during its ill-fated bid for the London Stock Exchange which developed into a big fight with a group of London's hedge funds.

After quitting Commerzbank Mr Dalman set up his own hedge fund group called WMG. He is also vice chairman of Toscafund.

one way or the other i feel vincent will have full ownership of Cardiff City before the end of 2012

No chance, he is corrupt and selling you down the river and I would be worried if I was you lot, he has no interest in football.

Well, you are not 'our lot' Wales No.1 Fool; but you are obviously bitter, twisted and (surprisingly given your current elevated status) simply jealous

How else can you explain a (so-called) fan of a debt-avoiding, rugby fan-based, council-owned club wanting to come on another club's MB just to pass comment on something that has NOTHING to do with you??

Yet another CONFIRMED example of the 'Jacks' (natural and understandable) inferiority complex with regard to all things positive relating to their capitol city football club....FACT!!

Stupid boy Pike(y)!!

I am being advised and told he is very good for our club and a football man, unlike a lot of the current board.

Thanks Annis; that makes me feel a LOT more confident

I am being advised and told he is very good for our club and a football man, unlike a lot of the current board.

Thanks Annis; that makes me feel a LOT more confident

Sven, being told this on good authority.

To be honest I think this guy is a Keith Harris type of guy who has been brought into the club to help the Mayalsians offload. Many of the posters on the other board have similar thoughts to this and I firmly believe (which I have done for a while) that this is the start of something very worrying.

People have mentioned his links with both Sam and the Glaziers and lets be honest those two groups (even through had it not been for Sam we wouldn't be anywhere near the champiosnhip) around a football club are enough to send shivers down anyones spine.

This will be a long process but the Malaysian ownership will be shortlived and god knows who next which 'could' put the club in an even worse financial situation if it has anything to do with more bank borrowing together with much higher borrowing rates than before.

One thing is for sure and thats 'if' I am right then there will be many on here with egg on their faces thats for sure.

adam

steve is over there securing the funds for the next phase of the house of sport which will upgrade the acadamy
to the A status it needs.
why on earth would the malaysians be throwing money at this new project if they were looking to get out.
this guy has been going through the due process with the football league for the last month to enable him to join the board as a director which i read as him going to invest.

Yes he is Turkish and wealthy, sounds like a good move

look forward to having kebabs instead of Clarks pies then pre match

Another one that has no affiliation or care about the City, just someone else that is looking to make money off our backs while there is profit to be made.

Another one that has no affiliation or care about the City, just someone else that is looking to make money off our backs while there is profit to be made.

can you enlighten me as to where this profit is the malaysians are making at the moment