UPDATED ' VINCENT TAN TODAY ' UPDATED

UPDATED

Vincent Tan Today

Sky News / BBC News

Thursday 11th Feb 2016

Cardiff owner Vincent Tan reduces club’s debt by more than half as he is converting £68m of debt into equity and writing off another £10m.

Cardiff owner Vincent Tan to convert £8m of remaining £40m debt into equity every year so club is debt free by 2021.



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.

Financial Fair Play rules dictate that £8m is maximum debt a club can convert into equity in a single financial year.







Vincent Tan arriving at Cardiff City Stadium for fans meeting. Wearing blue as well

Meeting at 1pm today

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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.

what times the meeting ? and are you going Annis ?
guessing its same lot of Vince, Corky, Dibs etc ?

Now that's a good colour blue

Lets hope for some positive news and both parties come out happy

What's the meeting about?

Vinny trying to sneak in without being spotted by Dai Hunt.

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.

Good for you

Any update annis

Now that's a good colour blue

Not invited , not that high up lol

https://twitter.com/BBCWalesSport?lang=en-gb

BBC Wales Sport:

Cardiff owner Vincent Tan reduces club’s debt by more than half as he is converting £68m of debt into equity and writing off another £10m.

Cardiff owner Vincent Tan to convert £8m of remaining £40m debt into equity every year so club is debt free by 2021.

Well that is absolutely tremendous news.

https://twitter.com/BBCWalesSport?lang=en-gb

BBC Wales Sport:

Cardiff owner Vincent Tan reduces club’s debt by more than half as he is converting £68m of debt into equity and writing off another £10m.

Cardiff owner Vincent Tan to convert £8m of remaining £40m debt into equity every year so club is debt free by 2021.

Putting his money where his mouth is

Cannot fault that and at least that parasite SH is gone not as if he put any money in.

https://twitter.com/BBCWalesSport?lang=en-gb

BBC Wales Sport:

Cardiff owner Vincent Tan reduces club’s debt by more than half as he is converting £68m of debt into equity and writing off another £10m.

Cardiff owner Vincent Tan to convert £8m of remaining £40m debt into equity every year so club is debt free by 2021.

Putting his money where his mouth is

Cannot fault that and at least that parasite SH is gone not as if he put any money in.

So Karl, Get down there and support the team week in week out like I do,instead of boycotting them



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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welcome back Vinny. my faith in you is now restored !

Anyone got VT or Dalmans email as i want to thank him.

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.

Fair play he's keeping his promise (debt to equity)
He has made mistakes in the past, but he has and is rectifying them one by one.
So I for one will forgive , will never forget. But I think this is one massive step forward. Debt free by 2021 you never know might be sooner if we all pull together , support the team the club from bottom too top , we may get promotion sooner rather than later.Time lads to move forward FFS this guy is a billionaire if we truly get him on side ,who knows what we can achieve and in BLUE this time.
Stop holding grudges and let's all move forward together.

https://twitter.com/BBCWalesSport?lang=en-gb

BBC Wales Sport:

Cardiff owner Vincent Tan reduces club’s debt by more than half as he is converting £68m of debt into equity and writing off another £10m.

Cardiff owner Vincent Tan to convert £8m of remaining £40m debt into equity every year so club is debt free by 2021.

Putting his money where his mouth is

Cannot fault that and at least that parasite SH is gone not as if he put any money in.

So Karl, Get down there and support the team week in week out like I do,instead of boycotting them

Annis, very very tempted but still don't like RS tactics.

Hopefully this is the start of a revolution at the club and lots of things will change.

It's proved what a waste the last few years have been, we could have been like Leicester!,,,,,,,,,,,,

Anyway onwards and upwards

Great news, now can we all finally unite, one club, one United fan base.

Best news I have heard in my 25 years following Cardiff City

Thank you so much Vincent Tan... Paying off that parisite Sam Hamman and making us debt free... I never thought it would happen. Only a week ago Steve Tucker was reporting administration was on the cards again.

Lets hope this give us the foundations now to move on as a club with a clean slate, learn from our mistakes and start enjoying our football agin

Converted debt to equity despite his own idea (the-rebrand) being reversed
Received racist abuse from fans
Been singled out by the media as some pantomine villain
Had to pay off a debt another man brought upon the club.
One manager, turned the whole fan base against him, another manager being allowed to have the free reigns of the club.

Top owner, may have brought some dispute on the club but the best we've had in a while

Converted debt to equity despite his own idea (the-rebrand) being reversed
Received racist abuse from fans
Been singled out by the media as some pantomine villain
Had to pay off a debt another man brought upon the club.
One manager, turned the whole fan base against him, another manager being allowed to have the free reigns of the club.

Top owner, may have brought some dispute on the club but the best we've had in a while

There is no doubt he made a big mistake with the change of colour, i think he probably underestimated the effect it would have on the fan base.

But then that has been reversed, and now hes on a mission to ensure we are debt free

Converted debt to equity despite his own idea (the-rebrand) being reversed
Received racist abuse from fans
Been singled out by the media as some pantomine villain
Had to pay off a debt another man brought upon the club.
One manager, turned the whole fan base against him, another manager being allowed to have the free reigns of the club.

Top owner, may have brought some dispute on the club but the best we've had in a while

There is no doubt he made a big mistake with the change of colour, i think he probably underestimated the effect it would have on the fan base.

But then that has been reversed, and now hes on a mission to ensure we are debt free

Only my opinion and it remains to be seen if true but I think it wasn't solely his idea, I'm sure there was some influences that swayed him to re-brand us, he didn't have any football knowledge at the time, some were in his ear saying he'd benefit from it IMO.

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

Lets see some good football

I've had the feeling of forgive but not forget for a while now. If I wasn't working weekends, I would have returned to watching us play this season.

I'm not sure I could ever like or trust Tan after what happened. That's not a personal thing. I generally don't like or trust any owners we have because they are greasy businessmen who are in it for their own personal gain.

However, I will say that I respect this decision and even though I am cautious about it I will take it at face value for the time being and give him his due credit for making this happen.

Well done Tan i think a thank you is deserved myself

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.

Sky News/ BBC News


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