CARDIFF CITY MAKE £9MILL PROFIT ON PLAYER SALES & OVERALL PR

CARDIFF CITY MAKE £9MILL PROFIT ON PLAYER SALES & OVERALL PROFIT FOR 2014/15 £3.8MILLION

The following has been created to outline the overall governance position, some key deadlines and other relevant issues that will affect the club.

CCFC Accounts show a profit £3.8million 31st May 2015
Compared to a loss of £12million 31st May 2014.

A Huge effort has been made to reduce the wage bill and this has been successfully done,including a £9mill profit on player sales.

http://www.annisabraham.co.uk/2016/11/2 ... -8million/

By Cardiff City Trust

Monday 21st November 2016

Cardiff City Football Club is a limited company whose accounts are filed at Companies House each year following an independent audit. The company is wholly owned by Cardiff City Football Club (Holdings) Limited which, in turn, is almost entirely owned by Tan Sri Vincent Tan.
It is the Holdings accounts which are the most relevant as they include all transactions within the group of companies of which the football club is the main operation.


The company`s financial yearend is May 31. This is a yearend adopted by the majority of football clubs as it corresponds with the end of the football season most closely. Accounts for a May yearend do not have to be filed at Companies House and put on the public record until the end of February of the following year, but a set of audited accounts must be lodged with the football authorities by no later than December 1 of the same year – so May 2016 accounts have to be filed by no later than December 1, 2016.

The most recent audited accounts for Cardiff City Football Club (Holdings) Limited are those for the financial year which ended on May 31, 2015. These showed an overall profit for the year of £3.8m compared to an overall loss in the previous year to May 31, 2014 of £12.0m.
However, a technical interpretation of these accounts by the football authorities led to an adjustment of the published figures in terms of deemed Financial Fair Play (FFP) requirements and a consequent transfer embargo (which has since been lifted) being placed on the club in January 2016.

The May 2015 accounts were in respect of the first season following the club`s loss of Premier League status.

Following relegation, income dropped by a huge amount (from £83.1m in 2014 to £40.3m in 2015). As a consequence, great efforts had to be made to reduce the club`s wage bill and other costs in an attempt to “balance the books”. This was successfully done, helped greatly by factors such as a £9m profit on player sales, a £13m debt write off by the owner, and a further £13m accounting adjustment to the balance sheet value of the debt due to the owner. It was the final item, required by accounting regulations, which did not receive the approval of the football authorities for FFP purposes and led to the transfer embargo being imposed on the club.

A significant element of income included in the accounts is the “parachute payments” received as compensation from the Premier League following any relegation. These reduce over time and will end for CCFC next season (2017-18).

The calculation of these payments has varied over time but, roughly speaking, CCFC could have expected £25m income from this in 2014-15, £20m in 2015-16, down to £10m in each of 2016-17 and 2017-18 seasons. Variations occur as the TV deals struck by the Premier League are renewed and by which clubs get promoted from the Championship to the Premier League (if a club recently relegated gets promoted again while still in a “parachute payment” entitlement period, then those payments instead get redistributed among the other Championship clubs). Once the parachute payments end or begin to reduce for a Championship club, then further and greater efforts have to be made to reduce costs in order to comply with FFP. This is a situation in which CCFC now finds itself.



The May 2016 accounts for Holdings are not due at Companies House until February 2017, but are due to be lodged with the football authorities (for them to assess FFP compliance) at the end of November. The exact content of those accounts is not known, but the Trust expects them to show an overall loss within the limits allowed by FFP. In respect of the announcements made by Tan Sri Vincent Tan in February 2016, the pledge to convert debt to equity is required to be referred to in a note in the May 2016 accounts even though all the transactions have yet to take place.




The current season (2016-17) will undoubtedly reflect the ongoing battle to minimise trading losses and will almost certainly require further reductions in wages and other costs in addition to efforts to sell on players at a profit. This is a situation which fans of no club wish to see, but is an ever increasing fact of life for all but the richest. For example, an established Premier League club like Swansea City, despite enjoying the income levels that come with that status, will still show a loss in its 2015-16 accounts.

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Fair play the club have been working hard to clean up oles mess

CARDIFF CITY MAKE £9MILL PROFIT ON PLAYER SALES & OVERALL PROFIT FOR 2014/15 £3.8MILLION

The following has been created to outline the overall governance position, some key deadlines and other relevant issues that will affect the club.

CCFC Accounts show a profit £3.8million 31st May 2015
Compared to a loss of £12million 31st May 2014.

A Huge effort has been made to reduce the wage bill and this has been successfully done,including a £9mill profit on player sales.

http://www.annisabraham.co.uk/2016/11/2 ... -8million/

By Cardiff City Trust

Monday 21st November 2016

Cardiff City Football Club is a limited company whose accounts are filed at Companies House each year following an independent audit. The company is wholly owned by Cardiff City Football Club (Holdings) Limited which, in turn, is almost entirely owned by Tan Sri Vincent Tan.
It is the Holdings accounts which are the most relevant as they include all transactions within the group of companies of which the football club is the main operation.


The company`s financial yearend is May 31. This is a yearend adopted by the majority of football clubs as it corresponds with the end of the football season most closely. Accounts for a May yearend do not have to be filed at Companies House and put on the public record until the end of February of the following year, but a set of audited accounts must be lodged with the football authorities by no later than December 1 of the same year – so May 2016 accounts have to be filed by no later than December 1, 2016.

The most recent audited accounts for Cardiff City Football Club (Holdings) Limited are those for the financial year which ended on May 31, 2015. These showed an overall profit for the year of £3.8m compared to an overall loss in the previous year to May 31, 2014 of £12.0m.
However, a technical interpretation of these accounts by the football authorities led to an adjustment of the published figures in terms of deemed Financial Fair Play (FFP) requirements and a consequent transfer embargo (which has since been lifted) being placed on the club in January 2016.

The May 2015 accounts were in respect of the first season following the club`s loss of Premier League status.

Following relegation, income dropped by a huge amount (from £83.1m in 2014 to £40.3m in 2015). As a consequence, great efforts had to be made to reduce the club`s wage bill and other costs in an attempt to “balance the books”. This was successfully done, helped greatly by factors such as a £9m profit on player sales, a £13m debt write off by the owner, and a further £13m accounting adjustment to the balance sheet value of the debt due to the owner. It was the final item, required by accounting regulations, which did not receive the approval of the football authorities for FFP purposes and led to the transfer embargo being imposed on the club.

A significant element of income included in the accounts is the “parachute payments” received as compensation from the Premier League following any relegation. These reduce over time and will end for CCFC next season (2017-18).

The calculation of these payments has varied over time but, roughly speaking, CCFC could have expected £25m income from this in 2014-15, £20m in 2015-16, down to £10m in each of 2016-17 and 2017-18 seasons. Variations occur as the TV deals struck by the Premier League are renewed and by which clubs get promoted from the Championship to the Premier League (if a club recently relegated gets promoted again while still in a “parachute payment” entitlement period, then those payments instead get redistributed among the other Championship clubs). Once the parachute payments end or begin to reduce for a Championship club, then further and greater efforts have to be made to reduce costs in order to comply with FFP. This is a situation in which CCFC now finds itself.



The May 2016 accounts for Holdings are not due at Companies House until February 2017, but are due to be lodged with the football authorities (for them to assess FFP compliance) at the end of November. The exact content of those accounts is not known, but the Trust expects them to show an overall loss within the limits allowed by FFP. In respect of the announcements made by Tan Sri Vincent Tan in February 2016, the pledge to convert debt to equity is required to be referred to in a note in the May 2016 accounts even though all the transactions have yet to take place.




The current season (2016-17) will undoubtedly reflect the ongoing battle to minimise trading losses and will almost certainly require further reductions in wages and other costs in addition to efforts to sell on players at a profit. This is a situation which fans of no club wish to see, but is an ever increasing fact of life for all but the richest. For example, an established Premier League club like Swansea City, despite enjoying the income levels that come with that status, will still show a loss in its 2015-16 accounts.

Who is Cardiff City St Annis, and why has the poster blatantly copied one of my posts from another message board and website and tried to pass it off as one of his own?

Keith

Fair play the club have been working hard to clean up oles mess

Isn't it they're mess as well? Managers don't sign cheques.

CARDIFF CITY MAKE £9MILL PROFIT ON PLAYER SALES & OVERALL PROFIT FOR 2014/15 £3.8MILLION

The following has been created to outline the overall governance position, some key deadlines and other relevant issues that will affect the club.

CCFC Accounts show a profit £3.8million 31st May 2015
Compared to a loss of £12million 31st May 2014.

A Huge effort has been made to reduce the wage bill and this has been successfully done,including a £9mill profit on player sales.

http://www.annisabraham.co.uk/2016/11/2 ... -8million/

By Cardiff City Trust

Monday 21st November 2016

Cardiff City Football Club is a limited company whose accounts are filed at Companies House each year following an independent audit. The company is wholly owned by Cardiff City Football Club (Holdings) Limited which, in turn, is almost entirely owned by Tan Sri Vincent Tan.
It is the Holdings accounts which are the most relevant as they include all transactions within the group of companies of which the football club is the main operation.


The company`s financial yearend is May 31. This is a yearend adopted by the majority of football clubs as it corresponds with the end of the football season most closely. Accounts for a May yearend do not have to be filed at Companies House and put on the public record until the end of February of the following year, but a set of audited accounts must be lodged with the football authorities by no later than December 1 of the same year – so May 2016 accounts have to be filed by no later than December 1, 2016.

The most recent audited accounts for Cardiff City Football Club (Holdings) Limited are those for the financial year which ended on May 31, 2015. These showed an overall profit for the year of £3.8m compared to an overall loss in the previous year to May 31, 2014 of £12.0m.
However, a technical interpretation of these accounts by the football authorities led to an adjustment of the published figures in terms of deemed Financial Fair Play (FFP) requirements and a consequent transfer embargo (which has since been lifted) being placed on the club in January 2016.

The May 2015 accounts were in respect of the first season following the club`s loss of Premier League status.

Following relegation, income dropped by a huge amount (from £83.1m in 2014 to £40.3m in 2015). As a consequence, great efforts had to be made to reduce the club`s wage bill and other costs in an attempt to “balance the books”. This was successfully done, helped greatly by factors such as a £9m profit on player sales, a £13m debt write off by the owner, and a further £13m accounting adjustment to the balance sheet value of the debt due to the owner. It was the final item, required by accounting regulations, which did not receive the approval of the football authorities for FFP purposes and led to the transfer embargo being imposed on the club.

A significant element of income included in the accounts is the “parachute payments” received as compensation from the Premier League following any relegation. These reduce over time and will end for CCFC next season (2017-18).

The calculation of these payments has varied over time but, roughly speaking, CCFC could have expected £25m income from this in 2014-15, £20m in 2015-16, down to £10m in each of 2016-17 and 2017-18 seasons. Variations occur as the TV deals struck by the Premier League are renewed and by which clubs get promoted from the Championship to the Premier League (if a club recently relegated gets promoted again while still in a “parachute payment” entitlement period, then those payments instead get redistributed among the other Championship clubs). Once the parachute payments end or begin to reduce for a Championship club, then further and greater efforts have to be made to reduce costs in order to comply with FFP. This is a situation in which CCFC now finds itself.



The May 2016 accounts for Holdings are not due at Companies House until February 2017, but are due to be lodged with the football authorities (for them to assess FFP compliance) at the end of November. The exact content of those accounts is not known, but the Trust expects them to show an overall loss within the limits allowed by FFP. In respect of the announcements made by Tan Sri Vincent Tan in February 2016, the pledge to convert debt to equity is required to be referred to in a note in the May 2016 accounts even though all the transactions have yet to take place.




The current season (2016-17) will undoubtedly reflect the ongoing battle to minimise trading losses and will almost certainly require further reductions in wages and other costs in addition to efforts to sell on players at a profit. This is a situation which fans of no club wish to see, but is an ever increasing fact of life for all but the richest. For example, an established Premier League club like Swansea City, despite enjoying the income levels that come with that status, will still show a loss in its 2015-16 accounts.

Who is Cardiff City St Annis, and why has the poster blatantly copied one of my posts from another message board and website and tried to pass it off as one of his own?

Keith

?


Evening Keith,

If you had looked in to the link it said Cardiff City Trust(Keith Morgan)

http://www.annisabraham.co.uk/2016/11/2 ... -8million/

2nd where did it ever say another name? I did put St on here as thats what you trust members put on your badges and was on News Now.
3rd,I found the article on News Now and it said it was written by Cardiff City Trust.
I was not sure if I should add yr name on here as well as link,as your name did not appear on the article.

Now that, that is cleared up, can you now discuss it :thumb right:

Are you pleased with how the club is now running?

Are you pleased with the figures you've put out and do you believe it now looks like we will be made debt free?

CARDIFF CITY MAKE £9MILL PROFIT ON PLAYER SALES & OVERALL PROFIT FOR 2014/15 £3.8MILLION

The following has been created to outline the overall governance position, some key deadlines and other relevant issues that will affect the club.

CCFC Accounts show a profit £3.8million 31st May 2015
Compared to a loss of £12million 31st May 2014.

A Huge effort has been made to reduce the wage bill and this has been successfully done,including a £9mill profit on player sales.

http://www.annisabraham.co.uk/2016/11/2 ... -8million/

By Cardiff City Trust

Monday 21st November 2016

Cardiff City Football Club is a limited company whose accounts are filed at Companies House each year following an independent audit. The company is wholly owned by Cardiff City Football Club (Holdings) Limited which, in turn, is almost entirely owned by Tan Sri Vincent Tan.
It is the Holdings accounts which are the most relevant as they include all transactions within the group of companies of which the football club is the main operation.


The company`s financial yearend is May 31. This is a yearend adopted by the majority of football clubs as it corresponds with the end of the football season most closely. Accounts for a May yearend do not have to be filed at Companies House and put on the public record until the end of February of the following year, but a set of audited accounts must be lodged with the football authorities by no later than December 1 of the same year – so May 2016 accounts have to be filed by no later than December 1, 2016.

The most recent audited accounts for Cardiff City Football Club (Holdings) Limited are those for the financial year which ended on May 31, 2015. These showed an overall profit for the year of £3.8m compared to an overall loss in the previous year to May 31, 2014 of £12.0m.
However, a technical interpretation of these accounts by the football authorities led to an adjustment of the published figures in terms of deemed Financial Fair Play (FFP) requirements and a consequent transfer embargo (which has since been lifted) being placed on the club in January 2016.

The May 2015 accounts were in respect of the first season following the club`s loss of Premier League status.

Following relegation, income dropped by a huge amount (from £83.1m in 2014 to £40.3m in 2015). As a consequence, great efforts had to be made to reduce the club`s wage bill and other costs in an attempt to “balance the books”. This was successfully done, helped greatly by factors such as a £9m profit on player sales, a £13m debt write off by the owner, and a further £13m accounting adjustment to the balance sheet value of the debt due to the owner. It was the final item, required by accounting regulations, which did not receive the approval of the football authorities for FFP purposes and led to the transfer embargo being imposed on the club.

A significant element of income included in the accounts is the “parachute payments” received as compensation from the Premier League following any relegation. These reduce over time and will end for CCFC next season (2017-18).

The calculation of these payments has varied over time but, roughly speaking, CCFC could have expected £25m income from this in 2014-15, £20m in 2015-16, down to £10m in each of 2016-17 and 2017-18 seasons. Variations occur as the TV deals struck by the Premier League are renewed and by which clubs get promoted from the Championship to the Premier League (if a club recently relegated gets promoted again while still in a “parachute payment” entitlement period, then those payments instead get redistributed among the other Championship clubs). Once the parachute payments end or begin to reduce for a Championship club, then further and greater efforts have to be made to reduce costs in order to comply with FFP. This is a situation in which CCFC now finds itself.



The May 2016 accounts for Holdings are not due at Companies House until February 2017, but are due to be lodged with the football authorities (for them to assess FFP compliance) at the end of November. The exact content of those accounts is not known, but the Trust expects them to show an overall loss within the limits allowed by FFP. In respect of the announcements made by Tan Sri Vincent Tan in February 2016, the pledge to convert debt to equity is required to be referred to in a note in the May 2016 accounts even though all the transactions have yet to take place.




The current season (2016-17) will undoubtedly reflect the ongoing battle to minimise trading losses and will almost certainly require further reductions in wages and other costs in addition to efforts to sell on players at a profit. This is a situation which fans of no club wish to see, but is an ever increasing fact of life for all but the richest. For example, an established Premier League club like Swansea City, despite enjoying the income levels that come with that status, will still show a loss in its 2015-16 accounts.

Who is Cardiff City St Annis, and why has the poster blatantly copied one of my posts from another message board and website and tried to pass it off as one of his own?

Keith

Evening Keith,if you had looked in to the link it said Cardiff City Trust(Keith Morgan)
2nd where did it ever say another name? I did put St on here as thats what you trust members put on your badges and was on News Now.
3rd,I found the article on News Now and it said it was written by Cardiff City Trust.
I was not sure if I should add yr name on here as well as link,as your name did not appear on the article.

Now that, that is cleared up, can you now discuss it :thumb right:

Are you pleased with how the club is now running?

Are you pleased with the figures you've put out and do you believe it now looks like we will be made debt free?

Firstly the original opening post said it was by Cardiff ST. It has since been edited to say Cardiff City Trust.
No idea what News Now is. Did they " borrow" my article from the Trust website?

In answer to your questions, I feel that the club is far better run financially now than it has been in several years, both under Sam and in the first 4 or 5 years of the Vincent Tan era. Ken Choo is a far better CEO than Simon Lim was and seems far more willing and able to go through the steep learning curve of football knowledge. Is he perfect? No, but who is? After he finishes his stint as manager, I would like to see Neil Warnock to remain at the club as a part time Director of Football or similar to give that extensive football knowledge input.

I do believe that the club will now be made debt free. I have been impatient, and expressed my impatience to the club's directors, about it taking so long since the announcement that it was "imminent" back in February. However, the facts that a shareholders meeting has now been called to create the new shares necessary to enable the debt to equity to take place, and that the May 2016 audited accounts going to the League next week will include a note confirming VT's commitment to complete the transaction both lead me to believe that it is being progressed towards finalisation. Also the first of the 5 annual £8m debt reductions has already happened.

The club faces an ongoing financial struggle even after the debt write offs as parachute payments reduce( and disappear altogether after next season) and I am certain that 2 or 3 players that the manager and fans would rather not leave will have to be shipped out in January to generate transfer fees and wage savings to enable NW to bring in the couple of players that he has identified he wants to bring in to improve the starting eleven. Overall, including fringe players who have little hope of getting in the team, I see as many as 6 or 7 leaving to bring in 2 or 3.

CARDIFF CITY MAKE £9MILL PROFIT ON PLAYER SALES & OVERALL PROFIT FOR 2014/15 £3.8MILLION

The following has been created to outline the overall governance position, some key deadlines and other relevant issues that will affect the club.

CCFC Accounts show a profit £3.8million 31st May 2015
Compared to a loss of £12million 31st May 2014.

A Huge effort has been made to reduce the wage bill and this has been successfully done,including a £9mill profit on player sales.

http://www.annisabraham.co.uk/2016/11/2 ... -8million/

By Cardiff City Trust

Monday 21st November 2016

Cardiff City Football Club is a limited company whose accounts are filed at Companies House each year following an independent audit. The company is wholly owned by Cardiff City Football Club (Holdings) Limited which, in turn, is almost entirely owned by Tan Sri Vincent Tan.
It is the Holdings accounts which are the most relevant as they include all transactions within the group of companies of which the football club is the main operation.


The company`s financial yearend is May 31. This is a yearend adopted by the majority of football clubs as it corresponds with the end of the football season most closely. Accounts for a May yearend do not have to be filed at Companies House and put on the public record until the end of February of the following year, but a set of audited accounts must be lodged with the football authorities by no later than December 1 of the same year – so May 2016 accounts have to be filed by no later than December 1, 2016.

The most recent audited accounts for Cardiff City Football Club (Holdings) Limited are those for the financial year which ended on May 31, 2015. These showed an overall profit for the year of £3.8m compared to an overall loss in the previous year to May 31, 2014 of £12.0m.
However, a technical interpretation of these accounts by the football authorities led to an adjustment of the published figures in terms of deemed Financial Fair Play (FFP) requirements and a consequent transfer embargo (which has since been lifted) being placed on the club in January 2016.

The May 2015 accounts were in respect of the first season following the club`s loss of Premier League status.

Following relegation, income dropped by a huge amount (from £83.1m in 2014 to £40.3m in 2015). As a consequence, great efforts had to be made to reduce the club`s wage bill and other costs in an attempt to “balance the books”. This was successfully done, helped greatly by factors such as a £9m profit on player sales, a £13m debt write off by the owner, and a further £13m accounting adjustment to the balance sheet value of the debt due to the owner. It was the final item, required by accounting regulations, which did not receive the approval of the football authorities for FFP purposes and led to the transfer embargo being imposed on the club.

A significant element of income included in the accounts is the “parachute payments” received as compensation from the Premier League following any relegation. These reduce over time and will end for CCFC next season (2017-18).

The calculation of these payments has varied over time but, roughly speaking, CCFC could have expected £25m income from this in 2014-15, £20m in 2015-16, down to £10m in each of 2016-17 and 2017-18 seasons. Variations occur as the TV deals struck by the Premier League are renewed and by which clubs get promoted from the Championship to the Premier League (if a club recently relegated gets promoted again while still in a “parachute payment” entitlement period, then those payments instead get redistributed among the other Championship clubs). Once the parachute payments end or begin to reduce for a Championship club, then further and greater efforts have to be made to reduce costs in order to comply with FFP. This is a situation in which CCFC now finds itself.



The May 2016 accounts for Holdings are not due at Companies House until February 2017, but are due to be lodged with the football authorities (for them to assess FFP compliance) at the end of November. The exact content of those accounts is not known, but the Trust expects them to show an overall loss within the limits allowed by FFP. In respect of the announcements made by Tan Sri Vincent Tan in February 2016, the pledge to convert debt to equity is required to be referred to in a note in the May 2016 accounts even though all the transactions have yet to take place.




The current season (2016-17) will undoubtedly reflect the ongoing battle to minimise trading losses and will almost certainly require further reductions in wages and other costs in addition to efforts to sell on players at a profit. This is a situation which fans of no club wish to see, but is an ever increasing fact of life for all but the richest. For example, an established Premier League club like Swansea City, despite enjoying the income levels that come with that status, will still show a loss in its 2015-16 accounts.

Who is Cardiff City St Annis, and why has the poster blatantly copied one of my posts from another message board and website and tried to pass it off as one of his own?

Keith

Evening Keith,if you had looked in to the link it said Cardiff City Trust(Keith Morgan)
2nd where did it ever say another name? I did put St on here as thats what you trust members put on your badges and was on News Now.
3rd,I found the article on News Now and it said it was written by Cardiff City Trust.
I was not sure if I should add yr name on here as well as link,as your name did not appear on the article.

Now that, that is cleared up, can you now discuss it :thumb right:

Are you pleased with how the club is now running?

Are you pleased with the figures you've put out and do you believe it now looks like we will be made debt free?

Firstly the original opening post said it was by Cardiff ST. It has since been edited to say Cardiff City Trust.
No idea what News Now is. Did they " borrow" my article from the Trust website?

In answer to your questions, I feel that the club is far better run financially now than it has been in several years, both under Sam and in the first 4 or 5 years of the Vincent Tan era. Ken Choo is a far better CEO than Simon Lim was and seems far more willing and able to go through the steep learning curve of football knowledge. Is he perfect? No, but who is? After he finishes his stint as manager, I would like to see Neil Warnock to remain at the club as a part time Director of Football or similar to give that extensive football knowledge input.

I do believe that the club will now be made debt free. I have been impatient, and expressed my impatience to the club's directors, about it taking so long since the announcement that it was "imminent" back in February. However, the facts that a shareholders meeting has now been called to create the new shares necessary to enable the debt to equity to take place, and that the May 2016 audited accounts going to the League next week will include a note confirming VT's commitment to complete the transaction both lead me to believe that it is being progressed towards finalisation. Also the first of the 5 annual £8m debt reductions has already happened.

The club faces an ongoing financial struggle even after the debt write offs as parachute payments reduce( and disappear altogether after next season) and I am certain that 2 or 3 players that the manager and fans would rather not leave will have to be shipped out in January to generate transfer fees and wage savings to enable NW to bring in the couple of players that he has identified he wants to bring in to improve the starting eleven. Overall, including fringe players who have little hope of getting in the team, I see as many as 6 or 7 leaving to bring in 2 or 3.

I've explained why it said Cardiff City St,as thats what they put on the Trust badges,so I put the same that was on News now
After you complained I edited it

Mike Morris must have copied and pasted it and put it on there as thats where all football talk is from all clubs, so I put it on here and never once said it was mine

Since1962 aka Keith Morgan



In answer to your questions, I feel that the club is far better run financially now than it has been in several years, both under Sam and in the first 4 or 5 years of the Vincent Tan era. Ken Choo is a far better CEO than Simon Lim was and seems far more willing and able to go through the steep learning curve of football knowledge. Is he perfect? No, but who is? After he finishes his stint as manager, I would like to see Neil Warnock to remain at the club as a part time Director of Football or similar to give that extensive football knowledge input.

I do believe that the club will now be made debt free. I have been impatient, and expressed my impatience to the club's directors, about it taking so long since the announcement that it was "imminent" back in February. However, the facts that a shareholders meeting has now been called to create the new shares necessary to enable the debt to equity to take place, and that the May 2016 audited accounts going to the League next week will include a note confirming VT's commitment to complete the transaction both lead me to believe that it is being progressed towards finalisation. Also the first of the 5 annual £8m debt reductions has already happened.

The club faces an ongoing financial struggle even after the debt write offs as parachute payments reduce( and disappear altogether after next season) and I am certain that 2 or 3 players that the manager and fans would rather not leave will have to be shipped out in January to generate transfer fees and wage savings to enable NW to bring in the couple of players that he has identified he wants to bring in to improve the starting eleven. Overall, including fringe players who have little hope of getting in the team, I see as many as 6 or 7 leaving to bring in 2 or 3.[/quote]

THANKS Keith

Really Pleases we are finally going forward and our club is finally being run financially better

DEBT FREE

I also believe we might have to keep selling, but I am not sure that Warnock will let any of his better players go and we need Warnock,best manager at City for many a year

Fair play the club have been working hard to clean up oles mess

Spot On .

Fair play the club have been working hard to clean up oles mess

Spot On .

Yeah put it down to Ole, let's not forget MM's role eh.

Fair play to since62 good update. Things are looking up for the club going forward for the first time since early Malky days so Ken Choo, Slade need a salute not just NW giving these financial details. I'm all for Warnock shipping out however he pleases and maybe get a fee for. BLUEBIRDS BLUEBIRDS LOOKING FORWARD NEVER BACK ONWARDS & UPWARDS UNITE ATTEND GAMES HOME OR AWAY. THIS SEASON IS NOT OVER, KEEP THE FAITH.

Fair play the club have been working hard to clean up oles mess

Spot On .

Yeah put it down to Ole, let's not forget MM's role eh.

Dando,
Ole, yes wasted millions upon millions, but if you were to look at the facts Malky brought way more money in to our club than he wasted,Malky's promotion made us at least £100mill

Fair play the club have been working hard to clean up oles mess

Spot On .

Yeah put it down to Ole, let's not forget MM's role eh.

Dando,
Ole, yes wasted millions upon millions, but if you were to look at the facts Malky brought way more money in to our club than he wasted,Malky's promotion made us at least £100mill

Annis, it's all good that MM took us up but having 20 million+ to spend in fees and wages drove us into massive problems later on down the line and yeah we made money back on some players when we went up but lost a load on the ones we signed when we went up, Ole did contribute but MM also done as much damage. I just feel if MM can escape blame in the financial mes we been in then it's incredibly narrow minded.

Fair play the club have been working hard to clean up oles mess

Spot On .

Yeah put it down to Ole, let's not forget MM's role eh.

Dando,
Ole, yes wasted millions upon millions, but if you were to look at the facts Malky brought way more money in to our club than he wasted,Malky's promotion made us at least £100mill

Annis, it's all good that MM took us up but having 20 million+ to spend in fees and wages drove us into massive problems later on down the line and yeah we made money back on some players when we went up but lost a load on the ones we signed when we went up, Ole did contribute but MM also done as much damage. I just feel if MM can escape blame in the financial mes we been in then it's incredibly narrow minded.

Dando,
Remeber Vincent Tan, Gave him that money,so its not all Malky's fault, in fact Malky achieved everything he was asked to do.
One play-off,Carling Cup Final,Championship Winners,promotion to Premier League and never in the bottom three of Prem,most successful manager on paper At Cardiff for 50 plus years. What ever way some try to twist it,its a fact.

Fair play the club have been working hard to clean up oles mess

Spot On .

Yeah put it down to Ole, let's not forget MM's role eh.

Dando,
Ole, yes wasted millions upon millions, but if you were to look at the facts Malky brought way more money in to our club than he wasted,Malky's promotion made us at least £100mill

Annis, it's all good that MM took us up but having 20 million+ to spend in fees and wages drove us into massive problems later on down the line and yeah we made money back on some players when we went up but lost a load on the ones we signed when we went up, Ole did contribute but MM also done as much damage. I just feel if MM can escape blame in the financial mes we been in then it's incredibly narrow minded.

Dando,
Remeber Vincent Tan, Gave him that money,so its not all Malky's fault, in fact Malky achieved everything he was asked to do.
One play-off,Carling Cup Final,Championship Winners,promotion to Premier League and never in the bottom three of Prem,most successful manager on paper At Cardiff for 50 plus years. What ever way some try to twist it,its a fact.

He did give him that money but he weren't forced to spend it, it's almost like a test what VT done, he said here's the funds and it's up to you, he chose to go all willy nilly and spend the money and it showed eventually in the Prem he weren't up to standards, the amount of money we spent that season we was in the Prem was unforgivable considering he had us 1 point above the relegation zone when you had other teams who didn't spend near as much lingering far higher up.

For me Annis the achievements in his first season will always be remembered and it was one of my favourite seasons because we didn't much and achieved so much that we shouldn't have never achieved on paper but the promotion season and the Prem will never be remember fondly because Malky played the fans and I could never trust that man to manage this club.

We might not been in the bottom 3 but 1 away win and 3 home wins in half the season was never gonna keep us up.. the achievements are there Annis yes no-one can deny that but the man played the club and the supporters, that I am sorry will never leave my head.