" SUNDAY 17th OCTOBER 2010 UPDATE "

Vincent Tan is taking control of this Football Club and is implementing his rules, his staff and his way. As I told you last week he has instructed 2 of his accountancy staff to look over the books to see where his money is going and where he can make savings. The word used to describe VT to me today was "Ruthless", the man means business and wants this club promoted to the Premiership this season.

For this season VT has budgeted to lose an additional £4million to back Dave Jones on top of the annual budget in the quest to get the club promoted asap. This £4million is on top of the millions he is pouring in to pay the creditors to keep companies off our back. Whilst VT is putting money in and it is all great to hear there are casualties too, I told you a couple of weeks ago that there were redundancies being made and on Friday certain staff members were given their notice of redundancy and will leave the club at the end of this month.

The most prominent name made redundant is that of Suzanne Twamley, commercial department, and another from the same office. That is a saving of over £100k per annum in just those 2 members of staff. Gethin Jenkins has now been given the task of managing the commercial department. Many of the staff at the club are on casual contracts and hope that the issue will be resolved soon and those who are staying will be given full time contracts but until then they are sitting tight and hoping they keep their jobs.

Vincent Tan was introduced to this club by TG but I am told that TG is taking a step backwards and will not be so prominent for the immediate future allowing VT to get his teeth into the club and sort it out from top to bottom. TG is still very much involved with City business but the staff have been told that they answer to VT.

TG flew into the country last week and met with Peter Ridsdale on Thursday ahead of the scheduled payment settlement date of the Friday 15th October. During the meeting PR was asked to wait a little longer for his settlement and it is my understanding that PR declined the request. But despite a date of the 15/10/10 for full and final payment, the terms of the negotiation clearly state there is a 3 working day grace for the payment to allow for international payments so therefore PR expects his money by no later than Wednesday 20th October.

Whilst I am discussing Ridsdale, he has been swanning about at a lower league club and mingling with directors and even greeting players in the tunnel. The unfortunate club is Morecambe FC, he really is walking about the club like he owns it yet the man is very desperate to get his settlement from City.

Steve Borley took on the responsibilty of the build of the House of Sport and I can tell you that it is now only 6 weeks away from completion, inspectors have been and accepted the facilities which enables City to maintain it's academy status. The cost of the build was £1million and a further £1.5million to fit out, all this funded by Borley, on top of the £1.5million he is already owed by the club and the additional £400k he put in recently to help with a shortfall in the players wages. A total of £4.4million Borley has forked out but he is confident he will receive every penny.

VT and TG have agreed to buy the House of Sport off Steve and have also confirmed to him that the £400k for the wages was a temporary measure.

VT has met with PMG and after discussions Paul Guy has agreed that they wont be pushing the club for the money his company is due and will wait until 2013 for the payment, this does not mean that he will have to wait until then but it gives VT the option too if he wishes to exercise it.

With regards to PMG they have not received the £2million that was due to them in September and will continue to receive the interest. I do not have an answer regarding whether or not the right to convert the £2.7million to shares is being taken up by VT.
PMG still have full control over the Premier seats and continue to receive the monthly payments £90k which is slowly reducing the debt.

The next big issue that VT will deal with is Langston. It is now 10 weeks away from the deadline that the club has to pay Langston off and save themselves a lot of money in doing so. If the payment is made by December 31st 2010 then the figure is £10million, if it gets to 2011 and the payment has not been made then that figure rises dramatically to £24million and upwards.

Speaking with Sam, he is in a very good position and is enjoying his life at present, he has remained patient and willing to allow VT and TG to deal with the short term issues they have had to deal with prior to getting to this juncture, which I know the Malaysians have been very happy with. There is going to be an interesting few weeks ahead, what will VT do ? Will he pay off Langston the £10million or will he negotiate the debt which is favourable to the club and to Sam Hammam ? I am waiting and looking forward to the outcome !

Sam is living a healthy stress free life in the mountains of Lebanon and each and every time we speak he is very upbeat and confident that whatever he and VT decide it will be for the best interest of Cardiff City FC. Sam is looking forward too his 9th grandchild in April 2011 and is loving the family life.

The attendance at yesterdays game was announced as 22,444 but the actual turn out was just over 19,800. The early kick off has not helped especially in the family stand as many kids will have been playing park football and unable to attend.

Too many peoples surprise Bellamy was totally omitted from the squad for the game but I am reliably informed that he will start against Coventry on Tuesday.

Danny Drinkwater returns to training this week and is expected, if all goes well, to be eligible for the Leeds Utd game.

Darcy Blake returns from suspension for the trip to the Ricoh and I am told that he will probably return to the line up too.

The players were called in for training at the Vale today and focused on the defensive errors and watched a re-run of the goals we conceded.

The club have also been in contact with coventry over away tickets.The club expect to recieve a further 200 tickets for tuesday nights game.

about bloody time lol

thanks Carl worth the wait great update

thnx carl

the spectre of Sam is never far away ......thanks for the update Carl.

WOOOOOOO Great update Carl, We are definitely moving forward! Already buzzing for the next update

9 grandkids, i got some catching up


cheers carl

Cheers Carl.

excellent post but you took your time m8

Two questions:

1.) Why was the crowd figure annonced incorrectly ?

2.) What will the additional £4M be used for and when ?

Ta

the spectre of Sam is never far away ......thanks for the update Carl.

Sam is not a threat he is a benefit

Excellent Update as usual Carl

The Media can now copy it

Good good
Cheers

excellent post but you took your time m8

I have to create it, I dont just copy this stuff you know

Thanks Carl.
Any news on Jay's contract?

people like that womone who has been layed off have been doing nothing but bleeding this club for years (amoungst otherthings) , im glad VT is going through the lot of them and getting rid

Shame about Suzanne but the more involvement VT has with our club the better and he certainly seems pretty astute and not afraid to make tough decisions when they are needed. Hopefully the start of an Historic period for the club!

Last edited by Dange on Sun Oct 17, 2010 9:09 pm, edited 1 time in total.

Thanks Carl

It will be an interesting few weeks with regards to Langston, i personally cannot see the Malaysians forking out the 10million by Dec 31st, but im sure they will come to some other agreement with Sam by this date, just my opinion.

any chance we can cut out this nonsence of playing early doors for the so called high risk games . If we must could the club make sure the kick off times should be no earlier than 1pm .As mentioned in your report hundreds of school kids play local footie each week AND USUALLY FINISH MIDDAY SO GETTING TO THE GROUND IS IMPOSSIBLE for the start of a game and i personally know scores of kids season ticket holders didn't attend the game yesterday .

It's 2010 not 1983 FFS !

Good report tho

It will be an interesting few weeks with regards to Langston, i personally cannot see the Malaysians forking out the 10million by Dec 31st, but im sure they will come to some other agreement with Sam by this date, just my opinion.

Nobby this is my opinion too, I feel if they were going to pay off Langston they would takeover the club but why then have they allowed Paul Guy to stay on board until 2013 especially if they want the Premiership this season.

will the 4million be given to DJ for transfer funds?

Thanks for the update.

Very interesting but also positive news that VT is taking this approach. This to me can only be good news and for us to progress of the pitch we cant hand out jobs on silly wages that has been happening for years. The club after all is a business and VT certainly knows how to run successful businesses. Our future looks a lot healthier with VT and TG pulling the strings.

Good old Peter!

Once a shithead, always a shithead.

Poor old Morecambe.

Don't do it lads - it'll end in tears!

Two questions:

1.) Why was the crowd figure annonced incorrectly ?

2.) What will the additional £4M be used for and when ?

Ta

It was not announced incorrectly, we could have an empty stadium and still have an atendance announced for 17,000 as these are the season tickets sold.

The £4million will and has been used on additional wages and fees ie. Bellamy, Koumas, OJ, Keogh etc

will the 4million be given to DJ for transfer funds?

DJ has already had some of the money, he has used it to fund the loan signings

Two questions:

1.) Why was the crowd figure annonced incorrectly ?

2.) What will the additional £4M be used for and when ?

Ta

It was not announced incorrectly, we could have an empty stadium and still have an atendance announced for 17,000 as these are the season tickets sold.

The £4million will and has been used on additional wages and fees ie. Bellamy, Koumas, OJ, Keogh etc

the

Cheers Carlo.

should we be expecting signings come january then?

should we be expecting signings come january then?

Yes, DJ is being backed by VT and DJ has always bemoaned the fact he has been unable to freshen things up in January.

should we be expecting signings come january then?

Yes, DJ is being backed by VT and DJ has always bemoaned the fact he has been unable to freshen things up in January.

But last year he had all that money that was promised to him from the early season ticket sales.......or did I miss something?