Vincent Tan told itv Cymru Wales

Vincent Tan to 'write-off' Cardiff's debt and issue shares

Cardiff City chairman Vincent Tan tells ITV Cymru Wales he'll write-off the club's debts and issue shares.


11 February 2016 at 3:29pm

Itv Cymru Wales


Vincent Tan leaves Cardiff City debt free by 2021


Cardiff City chairman Vincent Tan has told ITV Cymru Wales he'll write-off the club's debts over the next five years by turning most of his debt into shares.



Cardiff City will be debt free by 2021 after billionaire owner Vincent Tan confirmed he will turn over £100m worth of money owed to him into shares or write-offs.

Tan, who announced the move to supporters during a visit to the capital this week, has written off £10m already over the past two months but confirmed he will imminently turn a further £68m of debt into equity to help ease the club’s financial issues.

The remaining £40m of debt will be turned into equity over the next five years at a rate of £8m a year.

It’s understood the move will almost certainly help Cardiff out of the transfer embargo imposed on them by the Football League for breaching Financial Fairplay rules, in part due to the loss of income due to their relegation from the Premier League in 2014.

'We're going to convert 68 million of the debt owing to me to equity' Tan told ITV News.

'That will leave about over 40 million. And that 40 million is necessary to leave there just to deal with down the road to help the Financial Fair Play rules.

"So, at least this goes to show that what we said we would do one day we do."
Last updated Thu 11 Feb 2016

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Big deal taking an article 5yrs old! ! Hes changed debt to equity several time and did so recently ..... but he was sued by share owner for doing so because it reduced his share price... and as been reported by more experienced people at finances said their are rules in the Malaysian financial institutions that prevent him from doing certain things which effects him wiping city debts by swapping debts to equity in one go! So it's not as simple as being made out in real world is it?....... time to have genuine go at tan is when he leaves and he doesn't leave us debt free which was also part of his plan...... give you 10 out 10 for researching something every man and his dog knows as other thread as pointed out.

Hasn't he done 100 million of this already ?

Hasn't he done 100 million of this already ?

He sure has Wez

To be fair a lot of his money is tied up in the tourism industry and we have just gone through a 2 year+ pandemic.

Will happily hold him to account if he leaves the club without having done it though.

To be fair a lot of his money is tied up in the tourism industry and we have just gone through a 2 year+ pandemic.

Will happily hold him to account if he leaves the club without having done it though.

Agree; but just look at who the OP is and enough said...

I think its safe to say - without Tan we would have probably gone bust and closed or into administration and back in League 2 by now.
Instead we have a stadium that has become home to the Welsh National Team, has the largest capacity in Wales and holds it own in both the PL and championship.
Maybe at last now - we have some kids coming through who have a chance of playing in the first team, we seem to have a manager and backroom staff that are young , motivated and willing to adopt to ways of playing, training etc.

I think we are a bit lucky to have Tan when you consider what the alternatives were - the local derby would be against Newport rather than the JB's