MY VIEW: TERRIBLE DEFENDING ONCE AGAIN BY CARDIFF / BUT THIS

Annis, you asked me one question which I forgot to answer earlier regarding the current level of debt the club has and was I happy with that level.

The most recent filed accounts are those for the year ended 31 May 2018,our promotion season. That year, despite making a big trading loss ( largely down to promotion bonuses paid) the club’s overall net liabilities were greatly reduced from around £80m to below £11m at the year end. This was down to two main factors,an upwards revaluation of the football stadium and a big conversion of the debt due to Vincent Tan into non- repayable shares.So yes I was pretty happy with the level of our debts then as they were considerably lower than most of our rivals at Championship level.

The May 2019 accounts have not been published and I have not yet had the opportunity of doing my usual pre- publication review of them. However, I expect to see a substantial trading profit for that year to further improve the net liability position. Until I see the accounts I have no idea if VT did further debt write offs or debt to equity conversions in the year but,if he did,the gross debt due to him will also have come down. .

Hope this helps

Keith

Wow!

If (and I don't doubt you, Keith) that is correct, it is one heck of a positive piece of news for Vincent Tan, the club itself and its supporters

Clearly, this will please the more pragmatic amongst us, who want Cardiff City to become a more 'responsible' club financially after the nightmare scenarios of not too distant times gone by

With a little (but not substantial) information on the matter that I believe to be factual, I suspect that Mr Tan will now further his attempts to move on and relinquish his control on a club he didn't really want in the beginning

As much as I appreciate that he saved us from oblivion and put a lot of his own money in, I feel that the fortuitous appointment of a very successful Neil Warnock has enabled him (Mr Tan) to bring forward his plans to hand the club over to someone else as soon as is practicable

It almost happened a season or so ago and it is likely he will try to do so again soon, as the indicators like removing Neil Warnock, putting in Russell Slade (oops, sorry, I mean his doppleganger Neil Harris) as a 'grateful to have a job' manager, not attending any matches this season and allowing his two 'key' men (Ken Choo and Mehmet Dalman) to relocate to London; although I understand the amiable Ken does still have a place in Cardiff that he uses

Only time will tell but the signs are there...

James Warnock was the agent for 3 players ???????????????????

WOW INDEED...he does work for USM who are agents for loads of players including some of ours. but was not the agent on any of those deals...the FA were asked a year ago to check them , no charges no wrong doing ..now that is a FACT.
as for SM.we had turned down a substantial offer from Sheffield Wednesday.. the club therefore thought it wise to extend his contract. its what most clubs do.
Willy Mckay , yes id imagine NW knew he was banned, I did, lots of people did, was in the news papers for goodness sake...wasn't some secret and covert operation. everyone knew not just Warnock..
2 plus 2 doesn't make 6 ,

Sorry, I'm a little at a loss with regard to what you're getting at within my own or Keith's posts?

It's ok was thinking out loud!

Annis.

You ask me what evidence I have of NW taking “ backhanders”. I can see nowhere where I have made that accusation.

I did describe some of his transfer dealings as “ dodgy” and stand by that view.
Bacuna was bought for more than market value on considerably more money than Reading were paying him and for an extraordinarily long contract (4.5 years rather than the usual 3).Apart from the player himself the main beneficiary rather than our club was his agent James Warnock. James Warnock is also the agent of Rhys Healey and Sean Morrison. It may of course be just a coincidence that SM received an improved contract very soon after changing agents to JW.

I would doubt if anyone can explain the benefit to CCFC of giving lucrative professional contracts to two sons of the disgraced former football agent Willie McKay who NW has known for some time has been banned from being a licensed intermediary and therefore not allowed to be involved directly or indirectly in football transfers. And yet he still dealt with him in negotiations in the tragic case of Emiliano Sala where the beneficiary of the inflated transfer fee ( WMcKay has admitted that he directly made efforts to inflate the fee) would have been the son of said WMcKay.

The above are facts not hearsay.

innuendo , reading things in and giving your opinion does not mean FACT.. your implying things that are not supported by facts at all...eg. HE still dealt with him. not the club. are you suggesting no one at our club knew this ?

Annis, you asked me one question which I forgot to answer earlier regarding the current level of debt the club has and was I happy with that level.

The most recent filed accounts are those for the year ended 31 May 2018,our promotion season. That year, despite making a big trading loss ( largely down to promotion bonuses paid) the club’s overall net liabilities were greatly reduced from around £80m to below £11m at the year end. This was down to two main factors,an upwards revaluation of the football stadium and a big conversion of the debt due to Vincent Tan into non- repayable shares.So yes I was pretty happy with the level of our debts then as they were considerably lower than most of our rivals at Championship level.

The May 2019 accounts have not been published and I have not yet had the opportunity of doing my usual pre- publication review of them. However, I expect to see a substantial trading profit for that year to further improve the net liability position. Until I see the accounts I have no idea if VT did further debt write offs or debt to equity conversions in the year but,if he did,the gross debt due to him will also have come down. .

Hope this helps

Keith

Wow!

If (and I don't doubt you, Keith) that is correct, it is one heck of a positive piece of news for Vincent Tan, the club itself and its supporters

Clearly, this will please the more pragmatic amongst us, who want Cardiff City to become a more 'responsible' club financially after the nightmare scenarios of not too distant times gone by

With a little (but not substantial) information on the matter that I believe to be factual, I suspect that Mr Tan will now further his attempts to move on and relinquish his control on a club he didn't really want in the beginning

As much as I appreciate that he saved us from oblivion and put a lot of his own money in, I feel that the fortuitous appointment of a very successful Neil Warnock has enabled him (Mr Tan) to bring forward his plans to hand the club over to someone else as soon as is practicable

It almost happened a season or so ago and it is likely he will try to do so again soon, as the indicators like removing Neil Warnock, putting in Russell Slade (oops, sorry, I mean his doppleganger Neil Harris) as a 'grateful to have a job' manager, not attending any matches this season and allowing his two 'key' men (Ken Choo and Mehmet Dalman) to relocate to London; although I understand the amiable Ken does still have a place in Cardiff that he uses

Only time will tell but the signs are there...

James Warnock was the agent for 3 players ???????????????????

WOW INDEED...he does work for USM who are agents for loads of players including some of ours. but was not the agent on any of those deals...the FA were asked a year ago to check them , no charges no wrong doing ..now that is a FACT.
as for SM.we had turned down a substantial offer from Sheffield Wednesday.. the club therefore thought it wise to extend his contract. its what most clubs do.
Willy Mckay , yes id imagine NW knew he was banned, I did, lots of people did, was in the news papers for goodness sake...wasn't some secret and covert operation. everyone knew not just Warnock..
2 plus 2 doesn't make 6 ,

Sorry, I'm a little at a loss with regard to what you're getting at within my own or Keith's posts?

I quoted the wrong post...
im getting at the FACTS in his previous post are anything but facts...its a mish mash of accusations that have already been dealt with and his opinions

Annis, you asked me one question which I forgot to answer earlier regarding the current level of debt the club has and was I happy with that level.

The most recent filed accounts are those for the year ended 31 May 2018,our promotion season. That year, despite making a big trading loss ( largely down to promotion bonuses paid) the club’s overall net liabilities were greatly reduced from around £80m to below £11m at the year end. This was down to two main factors,an upwards revaluation of the football stadium and a big conversion of the debt due to Vincent Tan into non- repayable shares.So yes I was pretty happy with the level of our debts then as they were considerably lower than most of our rivals at Championship level.

The May 2019 accounts have not been published and I have not yet had the opportunity of doing my usual pre- publication review of them. However, I expect to see a substantial trading profit for that year to further improve the net liability position. Until I see the accounts I have no idea if VT did further debt write offs or debt to equity conversions in the year but,if he did,the gross debt due to him will also have come down. .

Hope this helps

Keith

Wow!

If (and I don't doubt you, Keith) that is correct, it is one heck of a positive piece of news for Vincent Tan, the club itself and its supporters

Clearly, this will please the more pragmatic amongst us, who want Cardiff City to become a more 'responsible' club financially after the nightmare scenarios of not too distant times gone by

With a little (but not substantial) information on the matter that I believe to be factual, I suspect that Mr Tan will now further his attempts to move on and relinquish his control on a club he didn't really want in the beginning

As much as I appreciate that he saved us from oblivion and put a lot of his own money in, I feel that the fortuitous appointment of a very successful Neil Warnock has enabled him (Mr Tan) to bring forward his plans to hand the club over to someone else as soon as is practicable

It almost happened a season or so ago and it is likely he will try to do so again soon, as the indicators like removing Neil Warnock, putting in Russell Slade (oops, sorry, I mean his doppleganger Neil Harris) as a 'grateful to have a job' manager, not attending any matches this season and allowing his two 'key' men (Ken Choo and Mehmet Dalman) to relocate to London; although I understand the amiable Ken does still have a place in Cardiff that he uses

Only time will tell but the signs are there...

James Warnock was the agent for 3 players ???????????????????

WOW INDEED...he does work for USM who are agents for loads of players including some of ours. but was not the agent on any of those deals...the FA were asked a year ago to check them , no charges no wrong doing ..now that is a FACT.
as for SM.we had turned down a substantial offer from Sheffield Wednesday.. the club therefore thought it wise to extend his contract. its what most clubs do.
Willy Mckay , yes id imagine NW knew he was banned, I did, lots of people did, was in the news papers for goodness sake...wasn't some secret and covert operation. everyone knew not just Warnock..
2 plus 2 doesn't make 6 ,

Sorry, I'm a little at a loss with regard to what you're getting at within my own or Keith's posts?

I quoted the wrong post...
im getting at the FACTS in his previous post are anything but facts...its a mish mash of accusations that have already been dealt with and his opinions

OK, thanks

Ccfc1962 Keith, can I ask how much of the below is down to an upward valuation of the stadium please and how much down to conversion to shares?


The most recent filed accounts are those for the year ended 31 May 2018,our promotion season. That year, despite making a big trading loss ( largely down to promotion bonuses paid) the club’s overall net liabilities were greatly reduced from around £80m to below £11m at the year end. This was down to two main factors,an upwards revaluation of the football stadium and a big conversion of the debt due to Vincent Tan into non- repayable shares.So yes I was pretty happy with the level of our debts then as they were considerably lower than most of our rivals at Championship level.

9 changes from the Jacks game and our second choice keeper playing both games.
So did we play our reserves against the 6 fingered gypos from down west?

2nd choice goalkeeper, who is playing v Brum today?