The Cardiff City debts remain excess of £100m.
Wed Jun 02, 2021 7:34 pm
Current board now run CCFC for nearly 12 years.
The Cardiff City debts remain excess of £100m.
By Paul Abbandonato Chief Sports writer
Media Wales
Cardiff City have announced £12.2m losses following their relegation from the Premier League
Cardiff City made loss of £12.2million following relegation from the Premier League, the club accounts tell us.
The club's debt remains in excess of £100m, with the bulk of that figure owed to the Bluebirds' Malaysian owner Vincent Tan, some to banks and an unknown Director.
The Cardiff City debts remain excess of £100m.
By Paul Abbandonato Chief Sports writer
Media Wales
Cardiff City have announced £12.2m losses following their relegation from the Premier League
Cardiff City made loss of £12.2million following relegation from the Premier League, the club accounts tell us.
The club's debt remains in excess of £100m, with the bulk of that figure owed to the Bluebirds' Malaysian owner Vincent Tan, some to banks and an unknown Director.
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Re: The Cardiff City debts remain excess of £100m.
Wed Jun 02, 2021 7:36 pm
Re: The Cardiff City debts remain excess of £100m.
Wed Jun 02, 2021 7:49 pm
Forever Blue wrote:Current board now run CCFC for nearly 12 years.
The Cardiff City debts remain excess of £100m.
By Paul Abbandonato Chief Sports writer
Media Wales
Cardiff City have announced £12.2m losses following their relegation from the Premier League
Cardiff City made loss of £12.2million following relegation from the Premier League, the club accounts tell us.
The club's debt remains in excess of £100m, with the bulk of that figure owed to the Bluebirds' Malaysian owner Vincent Tan, some to banks and an unknown Director.
I haven`t spoken to Abbo today to clarify this or run him through my commentary but he seems to have missed the point that, apart from the debt of £48.9m that was due to Vincent Tan , another £37.6m was effectively a bridging loan mostly paid back after the year end. Without that clarification it puts the headline of "debt remains in excess of £100m" in a bit of a misleading light
Re: The Cardiff City debts remain excess of £100m.
Wed Jun 02, 2021 9:40 pm
Ninian1962 wrote:Forever Blue wrote:Current board now run CCFC for nearly 12 years.
The Cardiff City debts remain excess of £100m.
By Paul Abbandonato Chief Sports writer
Media Wales
Cardiff City have announced £12.2m losses following their relegation from the Premier League
Cardiff City made loss of £12.2million following relegation from the Premier League, the club accounts tell us.
The club's debt remains in excess of £100m, with the bulk of that figure owed to the Bluebirds' Malaysian owner Vincent Tan, some to banks and an unknown Director.
I haven`t spoken to Abbo today to clarify this or run him through my commentary but he seems to have missed the point that, apart from the debt of £48.9m that was due to Vincent Tan , another £37.6m was effectively a bridging loan mostly paid back after the year end. Without that clarification it puts the headline of "debt remains in excess of £100m" in a bit of a misleading light
yes but what happens after the year end counts towards the following year ...not the year in question...
Re: The Cardiff City debts remain excess of £100m.
Wed Jun 02, 2021 10:18 pm
Re: The Cardiff City debts remain excess of £100m.
Thu Jun 03, 2021 12:00 am
I understand people want to know the ins and outs of the club's finances, and while it's a concern of mine, I never allow myself to get bogged down in figures, as it seems very man and his dog, seems to publish/post figures which are vastly different to one another!! I personally see this as having a negative effect, and wonder sometimes is it deliberate, in an attempt at destabilising the club, and when I say club, in truth I mean us, the supporters, for me an owner is just that to me, an owner, we have had many in my time,and have sailed pretty close to the wind on a few occasions, if I won 100's of millions on the lottery, would I get involved in a football club? Would I F@ck as like!!
There aren't many clubs I can think of,whise fans have a fantastic "love in " with their respective owners tbf, they are usually dammed opif they do, or if they dont,
But the one thing I will ALWAYS be ? A bluebird fan, cardiff born, cardiff bred, an when I dies, I'll be cardiff dead!
Roll on the new season, which hopefully will be so exiting, anything other than the football will be on the back burner
ONWARDS AND UPWARDS!! BLUEBIRDS
There aren't many clubs I can think of,whise fans have a fantastic "love in " with their respective owners tbf, they are usually dammed opif they do, or if they dont,
But the one thing I will ALWAYS be ? A bluebird fan, cardiff born, cardiff bred, an when I dies, I'll be cardiff dead!
Roll on the new season, which hopefully will be so exiting, anything other than the football will be on the back burner
ONWARDS AND UPWARDS!! BLUEBIRDS
Re: The Cardiff City debts remain excess of £100m.
Thu Jun 03, 2021 9:29 am
Cardiff City report £12.2m loss in first season after relegation
BBC
June 2021
Cardiff City made a £12.2m loss in their first season following relegation from the Premier League.
The latest accounts show a drop in turnover of £79.2m in the year ending May 2020.
The Championship club's debt remains in excess of £100m, although much of that figure is owed to owner Vincent Tan.
In notes accompanying the accounts, it is revealed the Malaysian businessman has provided written assurances of his ongoing financial support.
Cardiff's loss comes despite reductions in wages of £14.6m from £42.5m to £27.9m, the drop out of the Premier League and the early impact of the coronavirus pandemic affected revenue streams.
They state immediate costs including a £945,000 loss because of season ticket refunds and a £2.1m reduction in expected parachute payments because of the Premier League having to refund some of their overseas broadcasting revenue.
In his statement in the accounts, Cardiff chairman Mehmet Dalman - who also admitted the future of the club would look "much more precarious" without Tan's ongoing support - said football clubs needed further help.
"I must note that the level of support that we as a sport have received from national and devolved governments since the start of the pandemic has been extremely disappointing and, compared to other sports, both professional and amateur football itself has been very much left to sort our own problems out," he said.
The club's net liabilities stood at £118.6m at the end of the accounting period, with Tan and his family owed £48.9m, with further loans from Tan and other sources secured after 31 May 2020.
The statements also confirm they have again made a contingency provision regarding the club's dispute with Nantes over a £15m fee for Emiliano Sala, two years on from the deaths of the Argentine striker and pilot David Ibbotson.
Fifa ruled in September 2019 in favour of Nantes, although Cardiff lodged an appeal with the Court of Arbitration for Sport (CAS).
"Although the directors, after taking legal advice, are of the opinion that the appeal has good prospects of success and will achieve a favourable outcome, no decision has yet been made by CAS," notes in the accounts state.
"Due to the uncertainty involved, the directories have prudently include adequate provision in these accounts should their appeal be unsuccessful."
BBC
June 2021
Cardiff City made a £12.2m loss in their first season following relegation from the Premier League.
The latest accounts show a drop in turnover of £79.2m in the year ending May 2020.
The Championship club's debt remains in excess of £100m, although much of that figure is owed to owner Vincent Tan.
In notes accompanying the accounts, it is revealed the Malaysian businessman has provided written assurances of his ongoing financial support.
Cardiff's loss comes despite reductions in wages of £14.6m from £42.5m to £27.9m, the drop out of the Premier League and the early impact of the coronavirus pandemic affected revenue streams.
They state immediate costs including a £945,000 loss because of season ticket refunds and a £2.1m reduction in expected parachute payments because of the Premier League having to refund some of their overseas broadcasting revenue.
In his statement in the accounts, Cardiff chairman Mehmet Dalman - who also admitted the future of the club would look "much more precarious" without Tan's ongoing support - said football clubs needed further help.
"I must note that the level of support that we as a sport have received from national and devolved governments since the start of the pandemic has been extremely disappointing and, compared to other sports, both professional and amateur football itself has been very much left to sort our own problems out," he said.
The club's net liabilities stood at £118.6m at the end of the accounting period, with Tan and his family owed £48.9m, with further loans from Tan and other sources secured after 31 May 2020.
The statements also confirm they have again made a contingency provision regarding the club's dispute with Nantes over a £15m fee for Emiliano Sala, two years on from the deaths of the Argentine striker and pilot David Ibbotson.
Fifa ruled in September 2019 in favour of Nantes, although Cardiff lodged an appeal with the Court of Arbitration for Sport (CAS).
"Although the directors, after taking legal advice, are of the opinion that the appeal has good prospects of success and will achieve a favourable outcome, no decision has yet been made by CAS," notes in the accounts state.
"Due to the uncertainty involved, the directories have prudently include adequate provision in these accounts should their appeal be unsuccessful."
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