' CARDIFF CITY FC OFFICIAL STATEMENT '

Cardiff City Football Club is pleased to announce the following financial information, as confirmed on 11th February 2016 by Tan Sri Vincent Tan.

Friday 12th Feb 2016

During the 2014/15 financial year, Tan Sri Vincent Tan waived £13 million of the debt owed to him by the Club and further converted £3 million of debt into equity in accordance with the Financial Fair Play regulations.

In total, therefore, for the year ended 31st May 2015, £16 million of Club debt was cleared.

The 2014/15 accounts also show that the Club and the Group traded profitably.

For the financial year 2015/16, Tan Sri Vincent Tan will convert an additional £68 million from debt into equity and waive a further £10m of the debt owed to him.

The remaining debt, amounting to approximately £40 million following the above waiver and debt to equity conversion, will be converted from debt into equity over the next five years at the current maximum permitted Financial Fair Play regulated figure of £8 million per year.

The 2014/15 audited Financial Statements will be filed at Companies House on Monday, 15th February 2016.

On behalf of Cardiff City Football Club, Chief Executive Officer, Ken Choo said of the above statement: “We’d like to thank Tan Sri Vincent for his generosity and for visiting us personally to make this significant announcement.

“Cardiff City Football Club can look forward with a renewed level of optimism and financial stability, as a result of his kind gesture.”

Cardiff City Football Club is pleased to announce the following financial information, as confirmed on 11th February 2016 by Tan Sri Vincent Tan.

During the 2014/15 financial year, Tan Sri Vincent Tan waived £13 million of the debt owed to him by the Club and further converted £3 million of debt into equity in accordance with the Financial Fair Play regulations.

In total, therefore, for the year ended 31st May 2015, £16 million of Club debt was cleared.

The 2014/15 accounts also show that the Club and the Group traded profitably.

For the financial year 2015/16, Tan Sri Vincent Tan will convert an additional £68 million from debt into equity and waive a further £10m of the debt owed to him.

The remaining debt, amounting to approximately £40 million following the above waiver and debt to equity conversion, will be converted from debt into equity over the next five years at the current maximum permitted Financial Fair Play regulated figure of £8 million per year.

The 2014/15 audited Financial Statements will be filed at Companies House on Monday, 15th February 2016.

On behalf of Cardiff City Football Club, Chief Executive Officer, Ken Choo said of the above statement: “We’d like to thank Tan Sri Vincent for his generosity and for visiting us personally to make this significant announcement.

“Cardiff City Football Club can look forward with a renewed level of optimism and financial stability, as a result of his kind gesture.”

The guy has certainly put his money where his mouth is absolutely no one can doubt that. I have been watching the Bluebirds for over 52 years and I cannot think of another owner who has done more for our club and for that he deserves our respect and above ALL else our thanks.

Having watched the entire Q&A session on Cardiff City player this morning I have to say VT comes across as a very passionate, charismatic man who for some reason remains committed to our club. I say for some reason because he also looks to be struggling to understand "What else" he can do to get any reasonable level of acceptance for what he has done from the supporters.

I thought his comment about "The luckiest man in football" was brilliant and absolutely hilarious when he added "I won't mention his name because it spoils my day".

It looks like there is far more to this man than many, myself included, have been prepared to recognise. And that is sad.

Sorry Wez, didn't see your post

Merged the threads now

watched it a bit earlier. comedy gold at its best.
great news on the debt but he dont half talk shite about Malky due to 1 bad signing. he tends to forget he spent 20 mill (his words) to get us up. but doesnt mention you get probably quadruple that just for getting there

A noble gesture from our owner - not only going to erase his debt but also paid off someone elses's

He has made a lot of mistakes but he has stuck with us

Thanks Mr Tan

watched it a bit earlier. comedy gold at its best.
great news on the debt but he dont half talk shite about Malky due to 1 bad signing. he tends to forget he spent 20 mill (his words) to get us up. but doesnt mention you get probably quadruple that just for getting there

Every manager will get players wrong but that 'one' signing who didn't play 90 minutes of football, who cost £10m on 45k a week, who no one had ever heard of, cost us huge time. Tan dropped a bomb with the rebrand, but he gave a manager his trust and money to get it right and to completely wasted it!

watched it a bit earlier. comedy gold at its best.
great news on the debt but he dont half talk shite about Malky due to 1 bad signing. he tends to forget he spent 20 mill (his words) to get us up. but doesnt mention you get probably quadruple that just for getting there

Gareth, I think Tan felt exceptionally let down by Malky and (if stories from within the club at that time are to believed) there was a lot more to 'The Malky Factor' than has been publicised to date

There is no doubt that Malky did exceptionally well for the club, it's profile and its ambition to reach the Premier League, which it did; albeit briefly

There is also no doubt that Malky (ably abetted by his mate, Ian Moody) was a self-publicist who drew an awful lot of the club's fans (including me) into his world only to ultimately let us down with his antics 'once found out' and asked to do the honourable thing by Tan

On the money front, I think it is very hard at the moment not to see what Tan has done in the last week or so as being anything but positive for the club, its loyal supporters and its future. He has, it seems, committed himself to the club and (financially) that cannot be a bad thing for the moment; at least until someone credible steps forward to take over

What, I guess, supporters have to ask is whether they can accept that Tan has finally admitted he was (a) ill-advised, and (b) made his own mistakes. If so, then it is high time maybe not forget but to move on. Or should we stay in a perpetual time-warp where we constantly harp on at the past and continually drag Tan, Sam, The Riddler, etc., etc. into every thread/conversation without any real interest of where we can actually go from here?

I tend take a leaf out of the book 'A Christmas Carol' where the moral of the story was simple: "We cannot change the past but we can embrace and shape the future...but only if we have the heart and will to do so!"

Vincent Tan appears have moved forward, so I guess it's up to us fans to do the same!

watched it a bit earlier. comedy gold at its best.
great news on the debt but he dont half talk shite about Malky due to 1 bad signing. he tends to forget he spent 20 mill (his words) to get us up. but doesnt mention you get probably quadruple that just for getting there

Gareth, I think Tan felt exceptionally let down by Malky and (if stories from within the club at that time are to believed) there was a lot more to 'The Malky Factor' than has been publicised to date

There is no doubt that Malky did exceptionally well for the club, it's profile and its ambition to reach the Premier League, which it did; albeit briefly

There is also no doubt that Malky (ably abetted by his mate, Ian Moody) was a self-publicist who drew an awful lot of the club's fans (including me) into his world only to ultimately let us down with his antics 'once found out' and asked to do the honourable thing by Tan

On the money front, I think it is very hard at the moment not to see what Tan has done in the last week or so as being anything but positive for the club, its loyal supporters and its future. He has, it seems, committed himself to the club and (financially) that cannot be a bad thing for the moment; at least until someone credible steps forward to take over

What, I guess, supporters have to ask is whether they can accept that Tan has finally admitted he was (a) ill-advised, and (b) made his own mistakes. If so, then it is high time maybe not forget but to move on. Or should we stay in a perpetual time-warp where we constantly harp on at the past and continually drag Tan, Sam, The Riddler, etc., etc. into every thread/conversation without any real interest of where we can actually go from here?

I tend take a leaf out of the book 'A Christmas Carol' where the moral of the story was simple: "We cannot change the past but we can embrace and shape the future...but only if we have the heart and will to do so!"

Vincent Tan appears have moved forward, so I guess it's up to us fans to do the same!

Spot on Sven!

watched it a bit earlier. comedy gold at its best.
great news on the debt but he dont half talk shite about Malky due to 1 bad signing. he tends to forget he spent 20 mill (his words) to get us up. but doesnt mention you get probably quadruple that just for getting there

Gareth, I think Tan felt exceptionally let down by Malky and (if stories from within the club at that time are to believed) there was a lot more to 'The Malky Factor' than has been publicised to date

There is no doubt that Malky did exceptionally well for the club, it's profile and its ambition to reach the Premier League, which it did; albeit briefly

There is also no doubt that Malky (ably abetted by his mate, Ian Moody) was a self-publicist who drew an awful lot of the club's fans (including me) into his world only to ultimately let us down with his antics 'once found out' and asked to do the honourable thing by Tan

On the money front, I think it is very hard at the moment not to see what Tan has done in the last week or so as being anything but positive for the club, its loyal supporters and its future. He has, it seems, committed himself to the club and (financially) that cannot be a bad thing for the moment; at least until someone credible steps forward to take over

What, I guess, supporters have to ask is whether they can accept that Tan has finally admitted he was (a) ill-advised, and (b) made his own mistakes. If so, then it is high time maybe not forget but to move on. Or should we stay in a perpetual time-warp where we constantly harp on at the past and continually drag Tan, Sam, The Riddler, etc., etc. into every thread/conversation without any real interest of where we can actually go from here?

I tend take a leaf out of the book 'A Christmas Carol' where the moral of the story was simple: "We cannot change the past but we can embrace and shape the future...but only if we have the heart and will to do so!"

Vincent Tan appears have moved forward, so I guess it's up to us fans to do the same!

About time you went into print . Excellent post!

im all willing to get behind the team, and happy the owners doing things right now.
but the constant digs at Malky are pathetic in my view. i honestly believe if we still had Malky then we would still be in the prem

am i the only 1 wary of what Tan has in plan next ? i cant trust him yet unfortunatly. think he gives with 1 hand but will take with the other. hope im wrong

am i the only 1 wary of what Tan has in plan next ? i cant trust him yet unfortunatly. think he gives with 1 hand but will take with the other. hope im wrong

Well he's taken f..k all so far unless you know different and have any proof ?

am i the only 1 wary of what Tan has in plan next ? i cant trust him yet unfortunatly. think he gives with 1 hand but will take with the other. hope im wrong

Well he's taken f..k all so far unless you know different and have any proof ?

One of the very few who as not taken anything other than what's owed to him out of the club! Even 'Glory Boy' up M4 takes from the Swans in way of premiums!

Well done Tan - deserves everyones respect

Not too many people would take on other peoples debt and pay it off then convert

He`s also hear for the long term

Now change the manager and you`ll then get the fans back

Thank you TaN

There's nothing at the club worth taking

He's run the club appallingly and is rectifying his mistakes so credit to him for that. I hold no grudges against him and if he runs us properly now I will applaud that wholeheartedly.

I hated the rebrand passionately but I will move on. The wounds will take time to heal but life goes on.

watched it a bit earlier. comedy gold at its best.
great news on the debt but he dont half talk shite about Malky due to 1 bad signing. he tends to forget he spent 20 mill (his words) to get us up. but doesnt mention you get probably quadruple that just for getting there

Gareth, I think Tan felt exceptionally let down by Malky and (if stories from within the club at that time are to believed) there was a lot more to 'The Malky Factor' than has been publicised to date

There is no doubt that Malky did exceptionally well for the club, it's profile and its ambition to reach the Premier League, which it did; albeit briefly

There is also no doubt that Malky (ably abetted by his mate, Ian Moody) was a self-publicist who drew an awful lot of the club's fans (including me) into his world only to ultimately let us down with his antics 'once found out' and asked to do the honourable thing by Tan

On the money front, I think it is very hard at the moment not to see what Tan has done in the last week or so as being anything but positive for the club, its loyal supporters and its future. He has, it seems, committed himself to the club and (financially) that cannot be a bad thing for the moment; at least until someone credible steps forward to take over

What, I guess, supporters have to ask is whether they can accept that Tan has finally admitted he was (a) ill-advised, and (b) made his own mistakes. If so, then it is high time maybe not forget but to move on. Or should we stay in a perpetual time-warp where we constantly harp on at the past and continually drag Tan, Sam, The Riddler, etc., etc. into every thread/conversation without any real interest of where we can actually go from here?

I tend take a leaf out of the book 'A Christmas Carol' where the moral of the story was simple: "We cannot change the past but we can embrace and shape the future...but only if we have the heart and will to do so!"

Vincent Tan appears have moved forward, so I guess it's up to us fans to do the same!

Great post Sven.