VT Interview: CCFC could be debt-free in 'days'
Thu Jul 18, 2013 7:27 pm
Vincent Tan: Cardiff City could be debt-free in 'days'
Mr Tan said he was disappointed that not all the fans were behind changes at the club
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Cardiff City owner Vincent Tan says he is "days away" from an agreement with creditors Langston which would result in the club becoming debt-free.
The debt to Langston - whose spokesman is former Cardiff City owner Sam Hammam - was taken out in 2004, and is thought to be about £24m.
Mr Tan, receiving an honorary doctorate from the University of South Wales, said the deal was "in Sam's hands".
Mr Tan said his total investment in the club so far would be about £120m.
''If too many fans show that we are not welcome then maybe they will have a new owner but right now my experiences are that we are very welcome”
Mr Tan, speaking at a news conference at the University of South Wales in Treforest, said: "We are talking to Sam Hammam to try to resolve the Langston issue.
"I have been talking to Sam," he said.
"We have been friendly, talking. I like to regard Sam now as my friend and we will come around and resolve this.
"We are, I think, days away from an agreement."
Mr Tan said if the deal could be done, he could "convert all my loans to equity and make the club financially much more secure and hopefully debt-free".
He added: "That's my goal - to make the club debt-free, so that the club won't be under any threat and after that we just have to manage it prudently, run it like a business."
Asked to confirm an agreement could be reached within days, he replied: "Days away. It's in Sam's hands."
He expects his total investment in the club to be about £120m, once the debt is resolved.
He said he expects to stay at the club a while, adding: "If I sell now a lot of people in Cardiff would be disappointed and a lot of people in Malaysia would be disappointed."
However, he said he was still disappointed with the reaction of some fans over the club's re-branding, which included a change of club colours from blue to red.
"If too many fans show that we are not welcome then maybe they will have a new owner but right now my experiences are that we are very welcome," he said.
He also appealed to fans not to be too negative or disruptive.
Mr Tan said he was studying the possibility of floating part of the club on the Malaysian stock exchange to bring in Malaysian shareholders who would be friends and supporters of Cardiff.
He also spoke about the signing of an agreement with FK Sarajevo in Bosnia to work together as affiliated clubs to try to develop players.
From: http://www.bbc.co.uk/news/uk-wales-23362625
Mr Tan said he was disappointed that not all the fans were behind changes at the club
Continue reading the main story
Cardiff City owner Vincent Tan says he is "days away" from an agreement with creditors Langston which would result in the club becoming debt-free.
The debt to Langston - whose spokesman is former Cardiff City owner Sam Hammam - was taken out in 2004, and is thought to be about £24m.
Mr Tan, receiving an honorary doctorate from the University of South Wales, said the deal was "in Sam's hands".
Mr Tan said his total investment in the club so far would be about £120m.
''If too many fans show that we are not welcome then maybe they will have a new owner but right now my experiences are that we are very welcome”
Mr Tan, speaking at a news conference at the University of South Wales in Treforest, said: "We are talking to Sam Hammam to try to resolve the Langston issue.
"I have been talking to Sam," he said.
"We have been friendly, talking. I like to regard Sam now as my friend and we will come around and resolve this.
"We are, I think, days away from an agreement."
Mr Tan said if the deal could be done, he could "convert all my loans to equity and make the club financially much more secure and hopefully debt-free".
He added: "That's my goal - to make the club debt-free, so that the club won't be under any threat and after that we just have to manage it prudently, run it like a business."
Asked to confirm an agreement could be reached within days, he replied: "Days away. It's in Sam's hands."
He expects his total investment in the club to be about £120m, once the debt is resolved.
He said he expects to stay at the club a while, adding: "If I sell now a lot of people in Cardiff would be disappointed and a lot of people in Malaysia would be disappointed."
However, he said he was still disappointed with the reaction of some fans over the club's re-branding, which included a change of club colours from blue to red.
"If too many fans show that we are not welcome then maybe they will have a new owner but right now my experiences are that we are very welcome," he said.
He also appealed to fans not to be too negative or disruptive.
Mr Tan said he was studying the possibility of floating part of the club on the Malaysian stock exchange to bring in Malaysian shareholders who would be friends and supporters of Cardiff.
He also spoke about the signing of an agreement with FK Sarajevo in Bosnia to work together as affiliated clubs to try to develop players.
From: http://www.bbc.co.uk/news/uk-wales-23362625
Re: VT Interview: CCFC could be debt-free in 'days'
Thu Jul 18, 2013 7:29 pm
"That's my goal - to make the club debt-free, so that the club won't be under any threat and after that we just have to manage it prudently, run it like a business."
Asked to confirm an agreement could be reached within days, he replied: "Days away. It's in Sam's hands."
best quotes in there
Re: VT Interview: CCFC could be debt-free in 'days'
Thu Jul 18, 2013 9:16 pm
CalShepCCFC wrote:"That's my goal - to make the club debt-free, so that the club won't be under any threat and after that we just have to manage it prudently, run it like a business."
Asked to confirm an agreement could be reached within days, he replied: "Days away. It's in Sam's hands."
best quotes in there
Think your lying his English is not that good
Re: VT Interview: CCFC could be debt-free in 'days'
Thu Jul 18, 2013 9:18 pm
zakemanuel1927 wrote:CalShepCCFC wrote:"That's my goal - to make the club debt-free, so that the club won't be under any threat and after that we just have to manage it prudently, run it like a business."
Asked to confirm an agreement could be reached within days, he replied: "Days away. It's in Sam's hands."
best quotes in there
Think your lying his English is not that good
the article writer's english is good tho
Re: VT Interview: CCFC could be debt-free in 'days'
Thu Jul 18, 2013 9:30 pm
So, let's get this right. Tan pays off Sam and is into us for around £120m...... ok, I'm with this so far. He then expects us to believe he is going to convert all that debt (currently accruing 7% interest) into equity and leave us debt free and him with an insolvent asset worth far less than he is owed - Premier League or not?
I'm struggling with the last bit TBH - Does he think we are all imbeciles??
I'm struggling with the last bit TBH - Does he think we are all imbeciles??
Re: VT Interview: CCFC could be debt-free in 'days'
Thu Jul 18, 2013 10:18 pm
HandyLegs wrote:So, let's get this right. Tan pays off Sam and is into us for around £120m...... ok, I'm with this so far. He then expects us to believe he is going to convert all that debt (currently accruing 7% interest) into equity and leave us debt free and him with an insolvent asset worth far less than he is owed - Premier League or not?
I'm struggling with the last bit TBH - Does he think we are all imbeciles??
Your making yourself look an idiot,the man has put his money where is mouth is,have you
Re: VT Interview: CCFC could be debt-free in 'days'
Thu Jul 18, 2013 11:33 pm
earnieblue wrote:HandyLegs wrote:So, let's get this right. Tan pays off Sam and is into us for around £120m...... ok, I'm with this so far. He then expects us to believe he is going to convert all that debt (currently accruing 7% interest) into equity and leave us debt free and him with an insolvent asset worth far less than he is owed - Premier League or not?
I'm struggling with the last bit TBH - Does he think we are all imbeciles??
Your making yourself look an idiot,the man has put his money where is mouth is,have you
Yes, all my life. Probably thousands of pounds to love the club far more than this prick will ever do. He's not in this for Cardiff City, only for his own pockets.
Fools like you will be looking like the idiots when he finally cuts his ties, fills his boots with cash and fucks off.
He's put his money where his mouth is, but is earning 7% interest on it - FFS, wake up and smell the bull shit!!