BBC Article On Cardiff City’s Current Debts

Be interesting to hear the thoughts of Keith (Since62)

Cardiff City's debt remains at more than £100m, with much of it owed to owner Vincent Tan.


BBC

Wednesday 7th March 2018


Accounts for the year ending May 2017 show the club made losses of over £21.3m, including a £4.35m drop in revenue.

This was despite efforts to cut the player wage bill to £20.6m, an 18% reduction on the previous year.

Cardiff City chairman Mehmet Dalman said the club was in "good hands off the pitch".


Accounts recently filed with Companies House state that Tan intends to continue to support the club for the "foreseeable future", with debt to the Malaysian businessman and majority shareholders standing at over £115m at the end of the 2016-17 season.

Tan has also written off some of the money owed to him by the Bluebirds following his takeover in 2010, and has converted some of his debt into equity.


The accounts state Tan waived interest owed to him up to May 2017, but "continued to make further funds available in order to provide the company with additional working capital".

They show further borrowing of over £22.1m, including £11m owed to Tormen Finance Inc, "a company which a director of Cardiff City Football Club Limited has a significance influence over".

In his statement, Dalman insisted the club was in "good hands" off the pitch and that manager Neil Warnock was "a catalyst" for "the beginning of a new era where the supporters, the team and the club became united."

He added: "While we still have many challenges ahead of us, I am confident we are well equipped to deal with the tasks ahead."

This could be a long one.

This could be a long one.

Yes and will contain same things as the million other threads on this subject ! Better Settle down with plenty of

Bloody hell still made a £21 million loss even with all the cost cutting we have done

If we don't go up Our income drops by another £9 million next season due to parachute payments stopping

That's not going to look pretty. For all the stick Tan gets there is no doubt we wouldn't survive without his money

Bloody hell still made a £21 million loss even with all the cost cutting we have done

If we don't go up Our income drops by another £9 million next season due to parachute payments stopping

That's not going to look pretty. For all the stick Tan gets there is no doubt we wouldn't survive without his money

They'll be queueing up to tell you its all Tans fault,still,at least he hasn't lent it to us via a dummy company.

Personally, I think (for once) Vincent Tan deserves a pat on the back and he, in turn, should praise those currently around him (Mehmet Dalman/Ken Choo) and particularly Neil Warnock; the link that created the working chain

Hopefully, this new found solidarity will rub off on the team for the remainder of the season (and beyond) and see us reach the place we want to be...at the top and with a United fan base!

Time to look forward and not Back!

Remember when certain people were saying we were 200 million in debt ? Get promotion and it will be better ,don't and players will have to be sold

Hmmm sounds a lot but in he bigger picture 100m to Mr Tan is just a speck in the ocean!

We are heading in the right direction and it will take time and compared to numerous clubs in the future we should be more secure and not looking over our shoulder.

Let's look to the future the past has gone and we need to stand together.

Why do the bbc need to bring this shit up. Is it because we are doing well on the pitch, it’s not like it’s something new that we are in debt. The good thing is we are a club united again, going in the right direction.

Bloody hell still made a £21 million loss even with all the cost cutting we have done

If we don't go up Our income drops by another £9 million next season due to parachute payments stopping

That's not going to look pretty. For all the stick Tan gets there is no doubt we wouldn't survive without his money

This isn’t this seasons accounts

[quote="BaltimoreBlues"]Why do the bbc need to bring this shit up. Is it because we are doing well on the pitch, it’s not like it’s something new that we are in debt. The good thing is we are a club united again, going in the right direction. [/quote


Their baby (swans) are not doing as well so being negative about city sounds about right for their bias attitude towards us.

Certainly seem to be heading in the right direction. Happy for it to be owned to Tan.

Sad to see the once great BBC is now the BBzzz.

Why do the bbc need to bring this shit up. Is it because we are doing well on the pitch, it’s not like it’s something new that we are in debt. The good thing is we are a club united again, going in the right direction. [/quote


Their baby (swans) are not doing as well so being negative about city sounds about right for their bias attitude towards us.

Yeah definitely, sounds about right

£21.3m seems a hell of a lot considering we 'only' lost £8.7m the previous season meaning a jump of £12.6m

On the Brightside our FFP 3 year cycle is OK £21.3m +£12.6m = £33.9m and then deduct the £3.8m 'profit' from 2015 giving a total of £30.1m.

We are allowed total losses of £39m over the cycle meaning we squeezed through by £8.9m.

Only thing is the £3.8m profit from 2015 will be dropped next year and if we lose more than £6.1m during the 2018/19 season we would in theory breach FFP.

Bloody hell still made a £21 million loss even with all the cost cutting we have done

If we don't go up Our income drops by another £9 million next season due to parachute payments stopping

That's not going to look pretty. For all the stick Tan gets there is no doubt we wouldn't survive without his money

This isn’t this seasons accounts

I agree the publication of the clubs accounts is definitely news worthy and the BBC have every right to write an article about them.

But I read on here the other day it’s £178 million.

Surely that must have been right?

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

Some legend who ain’t great with numbers.

Personally, I think (for once) Vincent Tan deserves a pat on the back and he, in turn, should praise those currently around him (Mehmet Dalman/Ken Choo) and particularly Neil Warnock; the link that created the working chain

Hopefully, this new found solidarity will rub off on the team for the remainder of the season (and beyond) and see us reach the place we want to be...at the top and with a United fan base!

Time to look forward and not Back!

Do you mean Leeds or Newcastle? We wouldn't be worrying about home crowds of merely 16000 then!

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

I thought it was 200 million

This BBC article is from late 2016, and lists the club debt as £178M.

http://www.bbc.co.uk/sport/football/38065587

So two years later the club have reduced debt by £60M+, though later accounts may differ of course - well done all at the club.

CTID

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

I thought it was 200 million

Tans own words reckon he put £200 million in.

Main point is our debt made by Tan is still beyond £115mill and after 8 yrs in charge still losing money beyond, not good.

I thought the debt was about £75mill now, shocked it’s £115 mill.

Why do the bbc need to bring this shit up. Is it because we are doing well on the pitch, it’s not like it’s something new that we are in debt. The good thing is we are a club united again, going in the right direction.

The BBC have only brought it up because Cardiff have just published their accounts. It is called news reporting.

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

I thought it was 200 million

Tans own words reckon he put £200 million in.

Main point is our debt made by Tan is still beyond £115mill and after 8 yrs in charge still losing money beyond, not good.

I thought the debt was about £75mill now, shocked it’s £115 mill.

What's the cash prize for finishing 2nd or winning the play offs?

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

I thought it was 200 million

Tans own words reckon he put £200 million in.

Main point is our debt made by Tan is still beyond £115mill and after 8 yrs in charge still losing money beyond, not good.

I thought the debt was about £75mill now, shocked it’s £115 mill.

your words annis

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But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

I thought it was 200 million

Tans own words reckon he put £200 million in.

Main point is our debt made by Tan is still beyond £115mill and after 8 yrs in charge still losing money beyond, not good.

I thought the debt was about £75mill now, shocked it’s £115 mill.

These are last seasons , it might well be more Like 75m today if he’s converted more to equity

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

I thought it was 200 million

Tans own words reckon he put £200 million in.

Main point is our debt made by Tan is still beyond £115mill and after 8 yrs in charge still losing money beyond, not good.

I thought the debt was about £75mill now, shocked it’s £115 mill.

These are last seasons , it might well be more Like 75m today if he’s converted more to equity

That's true and i bet we cost cut again this year

But I read on here the other day it’s £178 million.

Surely that must have been right?

Interesting Neil, where did you see that ??

I thought it was 200 million

Tans own words reckon he put £200 million in.

Main point is our debt made by Tan is still beyond £115mill and after 8 yrs in charge still losing money beyond, not good.

I thought the debt was about £75mill now, shocked it’s £115 mill.

These are last seasons , it might well be more Like 75m today if he’s converted more to equity

That's true and i bet we cost cut again this year

Do you think? I think he may spend a few quid IF we go up.

The guessing game as started why not 300m ect ect! !!! The reality is majority of clubs in championship lose money it's how that is managed that makes difference and in tan he as made pledge to leave club debt free? but realistically is that possible given we lose money every season, time will tell until then I for one won't lose sleep over it