UPDATED ' VINCENT TAN TODAY ' UPDATED

Vincent Tan has revealed he will convert £68m owed to him into equity immediately as he pledged Cardiff City will be debt-free in five years.

Tan was in Cardiff to make the announcement at a Q&A with supporters at the Cardiff City Stadium.

There, he told fans he has agreed to convert with immediate effect £68m of debt to equity.


He revealed he has also agreed to write-off a further £10m, that last season he wrote-off £13m and also converted £3m of debt into equity.

Those developments will leave the Bluebirds with an overall debt of £40m and Tan pledged that he will convert £8m of that from debt into equity every year forthwith.

The structured plan will mean that in five years the Bluebirds will be debt-free.

The conversion of the balance of £40m of debt into equity wasn`t mentioned in the meeting. Perhaps he said something to the media along these lines following the meeting , so we will have to see what is confirmed in the club`s press release on the meeting.
It would also be better for the club`s compliance with FFP if the debt was written off over that 5 year period rather than converted to equity as only the former impacts on profits which is what FFP is based on , rather than improving the balance sheet and debt risk which the conversion does.

Keith

He said it in his sky interview

All he has to do now is sack Fester and the crowds will return

Lets see some good football

I take it you haven't been for a while then

Wolves ,Huddersfield to name a few

Brilliant.

Well done VT. Now is time for us to back the team. We are still in Play Off hunt despite serious cost cutting. IMO Russell Slade is doing a great job very few managers could cut the budget so drastically and keep any club dreaming of a promotion.

I was at the MK Dons match and despite awful condition thought we played some good football in second half.

Lets all dream of Davy Marshall lifting the play off trophy at Wembley.

Da iawn Vincent. Credit where its due.
I won't repeat some of my comments in the past when I have tried to defend him. He has made mistakes in the past and will no doubt make some in the future. As we all do!!
But he was never the evil pantomine villain portrayed by the media.
Let's just all agree that, on balance, he has kept his word and put a lot of funds into the club. He has NOT just been on some glory mission and then would leave us in a total mess as many predicted.Much more than can be said for most of the others involved in running our club in recent times!!
Now let's get behind the City!

Yma o hyd

Vincent Tan insists he is ready to half Cardiff City's approximate £108m debt and the Bluebirds owner maintains the club will be debt-free by 2021.

BBC

Thursday 11th Feb 2016

Tan plans to convert £68m he is owed by the Championship club into equity while writing off another £10m.

Cardiff's debt was £174m at the end of the 2013/14 financial year after their season in the Premier League - most of it owed to major shareholder Tan.

"That would leave £40m owing to me," Tan told BBC Sport.

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Get in there !

Great news

Well done Vincent Tan.

I am a big critic of the way he appears to have handled us fans and dictatorial nature.
(Although it seems all owners are much like this nowadays......)
perhaps the yes men at the club and the wankers on the brighton home match gave him the wrong idea about the impact.

we've been through a hell of a time after years of steady forward momentum and this can only be great news to help galvanise the club to start to re-group.

Now, sack Nash and move us into the family stand!!!!

Roll on Charlton on saturday - cant fuckin wait


Barmy
Army

Fair play to Mr Tan,not only cleans up his own mess but his predecessors too.

Nice colour jumper Tan

Its time to put the past in the past I think. Difficult I know but time to move forward and together. Fans at loggerheads with the club and harking back to the past is no good for anyone.

I think im going to come back next season. Ive missed it this season.

I think much of what you say is wrong, but I'm 100% with you on this.

(I never left, btw!)

Come on even the Tan haters have to admit this is the best news in a very long time?

That's great news, the future is bright, the future is blue

That's great news, the future is bright, the future is blue

Indeed. Should have never been Red

Like I said yesterday, if he carries out his promises then that will be great for the club. Five years is a long time, and it's no more than words at the minute. This club has a history of getting our hopes up, only for us to find out later that we have been taken for mugs. If he actually ever makes the club free of debt, then that will be something new to most of us. I'll believe it when it happens, but looks like we've got to wait, although that is not Tan's fault as his hands are tied due to FFP.

Wow you don't see this in football very often, what a guy. The rebrand was a complete f up but its reversed and people need to look forward, we have never been in such a good position.

Now let's balance the books every year and become a proper club.

Fantastic news it will take a massive weight off the clubs shoulders and we can progress.

Fantastic news it will take a massive weight off the clubs shoulders and we can progress.

Hmmm wait until you read his comments about Slade.

Fantastic news it will take a massive weight off the clubs shoulders and we can progress.

Hmmm wait until you read his comments about Slade.

He wants him to beat Wenger's record he is not joking.

Nice colour jumper Tan

Its time to put the past in the past I think. Difficult I know but time to move forward and together. Fans at loggerheads with the club and harking back to the past is no good for anyone.

I think im going to come back next season. Ive missed it this season.

This, only been to two games all season.
Had a few other issues too mind.
Fair play to Tan today, he knows he's been wrong, but he is trying his best to right things.

Nice colour jumper Tan

Its time to put the past in the past I think. Difficult I know but time to move forward and together. Fans at loggerheads with the club and harking back to the past is no good for anyone.

I think im going to come back next season. Ive missed it this season.

I agree with this......I've kept my season ticket but haven't enjoyed the experience this season..

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

WOL.

For me, he will never do enough for me to forgive him for his previous mistakes.

But all credit here, a great day for the club

Even though I, and others, can't 100% forgive him - hopefully the fans and owner can have a better relationship moving forward.

Hope he sticks to his promise of converting £8m every year.

For goodness sake some fans look for anything to slag Tan off! He has made massive mistakes but is sticking to his promise of giving financial stability to the club, converting debt to equity, Financial Fair play rules dictate that you cannot spend money like water, you have to build a solid financial base.I for one would like us to consolidate our position maybe make the play-offs and if that means staying in the Championship for a few years then so be it.
Look at the clubs in the play-off positions, gambling huge sums and for some they will fail and put themselves in dodgy financial positions.
It is finally time for all supporters to get behind the team, come back and support the boys as we could still make the playoffs.

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

It's from talksport

http://talksport.com/football/champions ... years-time?

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

WOL.

Seriously they are running this shit??? If I was VT I would now be throwing my solicitors at them too destroy them. f*cking incompetent bunch of morons

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

WOL.

Seriously they are running this shit??? If I was VT I would now be throwing my solicitors at them too destroy them. f*cking incompetent bunch of morons

Why would Tan even give a laughing stock journalist site a thought?

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

It's from talksport

http://talksport.com/football/champions ... years-time?

Same as above I would f*cking destroy them if I were VT

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

WOL.

Seriously they are running this shit??? If I was VT I would now be throwing my solicitors at them too destroy them. f*cking incompetent bunch of morons

Why would Tan even give a laughing stock journalist site a thought?

Yep it's a 2 bit publication but it's his primary tool to speak to his main demographic (to put it in nonsensical marketing bollocks)

I'd crucify the cunts personally.

Cardiff owner Vincent Tan says he will reduce the Sky Bet Championship club's debt by more than half in his bid to ensure it is debt-free by 2021.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.

"Because we have recently reached agreement with one of the club's long-standing creditors, we are in a better position to convert our loans into equity," Tan was reported as saying by BBC Wales.

Tan was referring to the recent settlement with the club's long-standing creditor Langston, a Panama-based company owned by former Cardiff owner Sam Hammam.

Following relegation from the Barclays Premier League in 2014, Cardiff's debt had reportedly reached £174m at the end of the financial year with most owed to Tan.

Tan caused controversy at Cardiff when he changed the club's kit from blue to red in 2012 and resisted pressure from fans to change it back until January 2015.

He has not attended a game at the Cardiff City Stadium for over 12 months and Saturday's league trip to Charlton will only be the second occasion he has seen the club play in person in that time.

But that did not prevent Tan from handing out advice to the Cardiff players when he paid a visit to the club's training ground on Thursday morning.

"I gave them a pep talk and said they have got to start shooting," Tan was quoted as telling supporters by WalesOnline.

"In every match I want to see 30 or 40 attempts on goal, at least. Just shoot from 25, 30 yards, I told them.

"What's the point of passing, passing, passing and hoping to get in the box that way?

"Unless you're Lionel Messi looking for a tap in, it's not going to work.

"I watch every Cardiff match and I told them 'You guys have no confidence'.

"They get the ball and it seems to be like a hot potato. Pass it to somebody else straight away. You must see that, because I do.

"The law of averages says the more you shoot, the more you'll score. If you shoot 30 times you'll get three goals, 40 times will be four goals, 50 times and you'll get five goals."

Where the f**k is this from? Half of it is legit and half from a piss take article posted on here.

Please tell me this isn't copied and pasted from a genuine sports site????

WOL.

Seriously they are running this shit??? If I was VT I would now be throwing my solicitors at them too destroy them. f*cking incompetent bunch of morons

Why would Tan even give a laughing stock journalist site a thought?

Yep it's a 2 bit publication but it's his primary tool to speak to his main demographic (to put it in nonsensical marketing bollocks)

I'd crucify the cunts personally.

Not worth getting a heart attack over.

The Malaysian businessman completed his takeover of Cardiff in May 2010, but the Bluebirds are over £100million in debt and are currently working under a transfer embargo.

Tan told a Q&A session with supporters at the Cardiff City Stadium that he plans to convert £68m of the club's debt into equity while writing off a further £10m.

The 63-year-old said he wrote off £13m last season and turned £3m into equity to leave Cardiff £40m in debt to him.

Under the Football League's Financial Fair Play rules a club can convert a maximum amount of £8m of debt into equity in a single financial year, and Tan says he will do that for the next five years.


If he can only convert a max of £8million of debt into equity under Financial Fair Play rules per year how can he convert £68 million this year. There must be an explanation, anyone know?