' Tan will not make City debt Free until Malky case solved '

viewtopic.php?f=2&t=138288


Vincent Tan will not convert debt into equity until dispute with Malky Mackay solved, says Cardiff City Supporters Trust

Thursday Mar 20th 2014 By Simon Gaskell

The Trust released a statement after, along with other supporter groups, recently meeting Mr Tan and chairman Mehmet Dalman



Cardiff City owner Vincent Tan has stated there will be no debt to equity conversion until a legal dispute with former boss Malky Mackay is resolved, according to minutes of a Cardiff City Supporters Trust meeting.

The Trust, along with other supporter representatives, recently met with club officials including chairman Mehmet Dalman.

Also listed as being present were Chief Executive Simon Lim, manager Ole Gunnar Solskjaer and Mr Tan was said to have joined the later part of the meeting.

Fans have been trying to meet with Tan for months but a planned meeting over the Christmas period was cancelled at the last minute.

In the recent meeting, supporters raised the issue of the club's playing colours but were told there would be no immediate return to playing in blue.

Meanwhile after it was revealed in January in official accounts that the club's debts had risen to £118m - £66m of which is owed to Mr Tan - they were also said to have been told Mr Tan wouldn't turn debt into equity until the end of a legal dispute with Mackay.

Mr Tan dispensed with Mackay in December after a dispute over last summer's transfers at the club.

In a statement issued after the meeting, Trust chairman Tim Hartley said there had been “very honest and productive” talks with chairman Mr Dalman.

Mr Hartley said: “We have at last got some clarity on many issues of real concern to all supporters.

“The headlines from the meeting are that there will be no immediate return to playing in blue and that the debt owed to the club’s major shareholder, Vincent Tan, will not be converted to shares just yet. We were also told that there has been no ‘empirical analysis’ as to the financial benefits of the rebrand.

“We were joined at the very end of the meeting by Mr Tan and we were able to put the same questions which Mehmet had answered so openly to him.

"Mr Tan gave some cultural but no commercial reasons for the rebrand and told us that there would be no debt to equity conversion until after the settlement of the current legal dispute with the former manager.

"We explained that the view of the supporters, as shown by our fans survey, had hardened against the rebrand and that recent remarks and interviews by himself and by the club had not helped.

“I also had the opportunity last week to give the club’s board of directors a presentation about the work of the Supporters’ Trust and the results of our fans’ survey. It’s important the board understands that the Trust, as a shareholder in the club and as a representative fans body, is a ‘critical friend.’

"Anything we say and do is always for the long term benefit of the club. I stressed that engaging meaningfully with supporters is a good thing and that we need to have regular communication with them. Mehmet Dalman wants us to meet on a monthly basis and is keen for us to work with their community trust on joint projects.

“Both these meetings have been a great step forward in terms of the Trust’s relationship with the club. At last we seem to be having a dialogue the chairman, chief executive, his team and for a short time too, with the major shareholder. The Trust will build on this new relationship and continue to campaign for a return to blue and to put fans views to the club.”

Wouldn't even count on it then.. he will do it when he wants

After that "tan won't make city debt free until prominent forum leader owns up to living in Newport"

laughable. He's not going to do it.

Can anyone honestly take Tan the Clown serious anymore

I'm sure he will do it when it makes sense for him to do so. It's not as if it's the tax man chasing us for the money. Why are people so bothered that a very rich man, hasn't paid himself back any money, he borrowed to himself in the first place. He wouldn't be the first Cardiff owner to do this.

Why would the Malky case have any effect on whether he turns the debt into equity or not? I can't see the relation?
Sounds like he's still got a bee in his bonnet about Malky and is trying to deflect the attention and put the blame on Malky.

Let's be honest he'd be mad to do it with all these protest's going on.he's better of leaving the debt as it is and then any new owner would have to pay him off. Turns debt into shares and the price drops he'd lose a fortune, leave it as debt gaining interest . Tan is not as daft as people on here. All we need now is to find someone willing to buy him out, any takers?

Let's be honest he'd be mad to do it with all these protest's going on.he's better of leaving the debt as it is and then any new owner would have to pay him off. Turns debt into shares and the price drops he'd lose a fortune, leave it as debt gaining interest . Tan is not as daft as people on here. All we need now is to find someone willing to buy him out, any takers?

Don't you know that there is a very long queue of people wanting to take over the club, pay off Tan and turn us back to blue.

There's ....um, what's his name. Then there's that other bloke. And the fella from Jersey who once almost bought us. And Sam Hammam - he's got lot's of money now that he.. I mean Langston, have been paid back.

Now that we're a Premier League team there must be literally hundreds of rich owners with a preference for blue just waiting for the right time to buy us?

The only saving grace of the rebrand is not happening. Tan out, a supporters run club is the way we should try and take this

It's just an excuse to delay things! I reckon if we stay up next season he will turn the debts to equity and if we get regulated he will be packing his bags!

I'm sure he will do it when it makes sense for him to do so. It's not as if it's the tax man chasing us for the money. Why are people so bothered that a very rich man, hasn't paid himself back any money, he borrowed to himself in the first place. He wouldn't be the first Cardiff owner to do this.

lol..its just something that people use to hit him over the head with...tan owes tan money, and if he turns debt into equity it then means the value of the club tan owns is greater..how on earth is this a big deal to us fans?

The only saving grace of the rebrand is not happening. Tan out, a supporters run club is the way we should try and take this

ive got 3shillings and sixpence. how much do you have?

Can anyone honestly take Tan the Clown serious anymore

Gone from our saviour, to a clown, that you now ridicule at every opportunity Have opinions by all means, but a little respect should be shown by grown adults on here.

http://www.cardiffcityforum.co.uk/viewtopic.php?f=2&t=138288


Vincent Tan will not convert debt into equity until dispute with Malky Mackay solved, says Cardiff City Supporters Trust

Thursday Mar 20th 2014 By Simon Gaskell

The Trust released a statement after, along with other supporter groups, recently meeting Mr Tan and chairman Mehmet Dalman



Cardiff City owner Vincent Tan has stated there will be no debt to equity conversion until a legal dispute with former boss Malky Mackay is resolved, according to minutes of a Cardiff City Supporters Trust meeting.

The Trust, along with other supporter representatives, recently met with club officials including chairman Mehmet Dalman.

Also listed as being present were Chief Executive Simon Lim, manager Ole Gunnar Solskjaer and Mr Tan was said to have joined the later part of the meeting.

Fans have been trying to meet with Tan for months but a planned meeting over the Christmas period was cancelled at the last minute.

In the recent meeting, supporters raised the issue of the club's playing colours but were told there would be no immediate return to playing in blue.

Meanwhile after it was revealed in January in official accounts that the club's debts had risen to £118m - £66m of which is owed to Mr Tan - they were also said to have been told Mr Tan wouldn't turn debt into equity until the end of a legal dispute with Mackay.

Mr Tan dispensed with Mackay in December after a dispute over last summer's transfers at the club.

In a statement issued after the meeting, Trust chairman Tim Hartley said there had been “very honest and productive” talks with chairman Mr Dalman.

Mr Hartley said: “We have at last got some clarity on many issues of real concern to all supporters.

“The headlines from the meeting are that there will be no immediate return to playing in blue and that the debt owed to the club’s major shareholder, Vincent Tan, will not be converted to shares just yet. We were also told that there has been no ‘empirical analysis’ as to the financial benefits of the rebrand.

“We were joined at the very end of the meeting by Mr Tan and we were able to put the same questions which Mehmet had answered so openly to him.

"Mr Tan gave some cultural but no commercial reasons for the rebrand and told us that there would be no debt to equity conversion until after the settlement of the current legal dispute with the former manager.

"We explained that the view of the supporters, as shown by our fans survey, had hardened against the rebrand and that recent remarks and interviews by himself and by the club had not helped.

“I also had the opportunity last week to give the club’s board of directors a presentation about the work of the Supporters’ Trust and the results of our fans’ survey. It’s important the board understands that the Trust, as a shareholder in the club and as a representative fans body, is a ‘critical friend.’

"Anything we say and do is always for the long term benefit of the club. I stressed that engaging meaningfully with supporters is a good thing and that we need to have regular communication with them. Mehmet Dalman wants us to meet on a monthly basis and is keen for us to work with their community trust on joint projects.

“Both these meetings have been a great step forward in terms of the Trust’s relationship with the club. At last we seem to be having a dialogue the chairman, chief executive, his team and for a short time too, with the major shareholder. The Trust will build on this new relationship and continue to campaign for a return to blue and to put fans views to the club.”

It's got nothing to do with the Malky legal case and everything to do with Michael Isaacs pulling out of the deal that was on the table and who was the only Club Director present at the meeting?? Oh, yes, one Michaal Isaacs

Gone from our saviour, to a clown, that you now ridicule at every opportunity Have opinions by all means, but a little respect should be shown by grown adults on here.

Why should he get any respect from the supporters when he has continually disrespected the supporters and identity of this club consistently throughout his tenure here?

Can anyone honestly take Tan the Clown serious anymore

He is saying now that he wont make us debt free till Marshall scores

Don't you know that there is a very long queue of people wanting to take over the club, pay off Tan and turn us back to blue.

There's ....um, what's his name. Then there's that other bloke. And the fella from Jersey who once almost bought us. And Sam Hammam - he's got lot's of money now that he.. I mean Langston, have been paid back.

Now that we're a Premier League team there must be literally hundreds of rich owners with a preference for blue just waiting for the right time to buy us?[/quote]


Which is why he'd be a mug to do it at present with all the protests and anger against him, and one thing he isn't is a mug. If I was him I wouldn't do it either, I'd leave it as it is and make someone who wanted it give me all my money back. The problem is people on here believe that there's a long line of people willing to buy us out just cos we've had 1 year in the prem, where as in truth there isn't and there's also no guarantee that if there was they'd change us back to blue.

Gone from our saviour, to a clown, that you now ridicule at every opportunity Have opinions by all means, but a little respect should be shown by grown adults on here.

Why should he get any respect from the supporters when he has continually disrespected the supporters and identity of this club consistently throughout his tenure here?

Yes, he was so disrespectful, that's why he actually gave all supporters the option to support his re-brand and therefore further investment or to say no and he would not get further involved. The reality is, he gave us a choice, between doing it his way and all that the re-brand entailed or go back to being a club, staving off HMRC, the courts and other creditors month to month. As supporters, we all reluctantly chose the re-brand. The ones who chose to do nothing at the time like walking away or heavily protesting from the start, but are now shouting loudly from the roof top are nothing but hypocrites and that is the truth.

Yes, he was so disrespectful, that's why he actually gave all supporters the option to support his re-brand and therefore further investment or to say no and he would not get further involved. The reality is, he gave us a choice, between doing it his way and all that the re-brand entailed or go back to being a club, staving off HMRC, the courts and other creditors month to month. As supporters, we all reluctantly chose the re-brand. The ones who chose to do nothing at the time like walking away or heavily protesting from the start, but are now shouting loudly from the roof top are nothing but hypocrites and that is the truth.

Glad you agree he's been disrespectful.

I agree about the hypocrites. Thankfully, I've been protesting about it from the very start.

Yes, he was so disrespectful, that's why he actually gave all supporters the option to support his re-brand and therefore further investment or to say no and he would not get further involved. The reality is, he gave us a choice, between doing it his way and all that the re-brand entailed or go back to being a club, staving off HMRC, the courts and other creditors month to month. As supporters, we all reluctantly chose the re-brand. The ones who chose to do nothing at the time like walking away or heavily protesting from the start, but are now shouting loudly from the roof top are nothing but hypocrites and that is the truth.

Glad you agree he's been disrespectful.

I agree about the hypocrites. Thankfully, I've been protesting about it from the very start.

Protesting? In what way? by wearing a blue shirt and still going to games the only ones who had the courage of their convictions were those like TLG, who was so hurt by it that he gave up altogether going, which for a supporter like him, must have been a life changing decision. I didn't agree with his actions, but have the utmost respect for him. You and others on here, who do nothing but bleat are nothing but empty vessels

Protesting? In what way? by wearing a blue shirt and still going to games

Nope. Organised and chaired two public meetings, wrote a protest that had over 1,00 signatures. Built a website for it and also spoken at length in the media about it. Radio and written press. Drafted and shared letters to the club regarding this issue, so many more could write to the club with their concerns, attended several other rebrand meetings, attended protest events to protest the decision. Oh, I've also got the whole blue shirt wearing thing you mentioned too.

All this whilst recieved "warnings" and suggestions that if I continued my refusal to accept the rebrand, people could get "upset".



the only ones who had the courage of their convictions were those like TLG, who was so hurt by it that he gave up altogether going, which for a supporter like him, must have been a life changing decision. I didn't agree with his actions, but have the utmost respect for him.

good for you. I feel walking away isn't the right protest.

You and others on here, who do nothing but bleat are nothing but empty vessels

as I've already proved, I've done far more that sit on here and bleat "blue".

PS - I trust that whenever you've disagreed with a club decision, you've boycotted... Maybe when Ridsdale march was? If you didn't, then it's clear that YOU are the hypocrite here.

Protesting? In what way? by wearing a blue shirt and still going to games

Nope. Organised and chaired two public meetings, wrote a protest that had over 1,00 signatures. Built a website for it and also spoken at length in the media about it. Radio and written press. Drafted and shared letters to the club regarding this issue, so many more could write to the club with their concerns, attended several other rebrand meetings, attended protest events to protest the decision. Oh, I've also got the whole blue shirt wearing thing you mentioned too.

All this whilst recieved "warnings" and suggestions that if I continued my refusal to accept the rebrand, people could get "upset".



the only ones who had the courage of their convictions were those like TLG, who was so hurt by it that he gave up altogether going, which for a supporter like him, must have been a life changing decision. I didn't agree with his actions, but have the utmost respect for him.

good for you. I feel walking away isn't the right protest.

You and others on here, who do nothing but bleat are nothing but empty vessels

as I've already proved, I've done far more that sit on here and bleat "blue".

PS - I trust that whenever you've disagreed with a club decision, you've boycotted... Maybe when Ridsdale march was? If you didn't, then it's clear that YOU are the hypocrite here.

You have been that involved? yet I have very little recollection of ever having seen any of these activities and linked them to you You, don't even post on here under your own name, but remain anonymous, if you want to get that active at least post under you own name, otherwise your cause loses all credibillity. Most on here, just know you as an annoying arguementative poster For some considerable time many on here thought you were a Jack

In 40 years, I have never, felt strongly enough about any club decision, to walk away. If this partcular situation hurts me as much as it obviously does you, then I would simply walk away like TLG did, as I have said before, if VT had changed the name to Cardiff Dragons, then that would have been my personal tipping point and I would have not bothered going any more. The Ridsdale, situation warranted protest and I did and I guess ultimately it worked, as he was forced to leave

You have been that involved?

yes. I accept your apology.

yet I have very little recollection of ever having seen any of these activities and linked them to you

oh well. Didn't realise that for it to happen, you have to recall it. I'd suggest that next time, you don't just assume and make yourself look silly.

You, don't even post on here under your own name, but remain anonymous,

as do you? in fact you post as a "blue", yet rIdicule and criticise any single attempt for the blue to return.

if you want to get that active at least post under you own name, otherwise your cause loses all credibillity. Most on here, just know you as an annoying arguementative poster For some considerable time many on here thought you were a Jack

oh well. I guess you aren't the only one who made poor assumptions then.


In 40 years, I have never, felt strongly enough about any club decision, to walk away. If this partcular situation hurts me as much as it obviously does you, then I would simply walk away like TLG did, as I have said before, if VT had changed the name to Cardiff Dragons, then that would have been my personal tipping point and I would have not bothered going any more. The Ridsdale, situation warranted protest and I did and I guess ultimately it worked, as he was forced to leave

ah. So you are a hypocrite then. Cheers for clearing that one up.

Last edited by Barry Chuckle on Thu Mar 20, 2014 6:07 pm, edited 1 time in total.

I honestly think that nobody will buy us but there are some people on here thinks differently, I think they live in cuckoo land

You have been that involved?

yes. I accept your apology.

yet I have very little recollection of ever having seen any of these activities and linked them to you

oh well. Didn't realise that for it to happen, you have to recall it. I'd suggest that next time, you don't just assume and make yourself look silly.

You, don't even post on here under your own name, but remain anonymous,

as do you? in fact you post as a "blue", yet rIdicule and criticise any single attempt for the blue to return.

if you want to get that active at least post under you own name, otherwise your cause loses all credibillity. Most on here, just know you as an annoying arguementative poster For some considerable time many on here thought you were a Jack

oh well. I guess you aren't the only one who made poor assumptions then.


In 40 years, I have never, felt strongly enough about any club decision, to walk away. If this partcular situation hurts me as much as it obviously does you, then I would simply walk away like TLG did, as I have said before, if VT had changed the name to Cardiff Dragons, then that would have been my personal tipping point and I would have not bothered going any more. The Ridsdale, situation warranted protest and I did and I guess ultimately it worked, as he was forced to leave

ah. So you are a hypocrite then. Cheers for clearing that one up.

As I said and all too quickly proved, annoying and argumentative

As I said and all too quickly proved, annoying and argumentative

What, for correcting your inaccuracies?

Last edited by Barry Chuckle on Thu Mar 20, 2014 6:18 pm, edited 1 time in total.

Can anyone honestly take Tan the Clown serious anymore

He is saying now that he wont make us debt free till Marshall scores

The only saving grace of the rebrand is not happening. Tan out, a supporters run club is the way we should try and take this

ive got 3shillings and sixpence. how much do you have?

There's this revolutionary business concept that works in every other business called self generated income. Maybe you should wonder where most businesses funds come from

He owes sam hammam alot more (paid off in the press trick) than this whole malky depute which will take well over a year, so will that be the next excuse and then something else its cringeworthy to think most accepted this for a debt free club owed by one man alone