Tan wipes 70 million off our debt !

Cardiff City owner Vincent Tan slashes almost £70million from Bluebirds' debt

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The amount of Cardiff City debt written off by Vincent Tan in the past three years now stands at £85million.

The Malaysian owner has just completed a process of converting debts into shares, the latest a huge £66.4million sum which the club no longer owes to him.

That's to add to £12.6million converted in May last year and around £7mllion in May 2016 — at the end of each financial year.

Vincent Tan and Ken Choo met up again the following morning (Image: Huw Evans Picture Agency)
It takes Cardiff's current overall debt close to the £50million mark, after last standing at £115million in March this year according to Companies House records.

And after discussions with the Cardiff City Supporters Trust, WalesOnline understands the club have also received confirmation they are compliant with the Premier League's profitability and sustainability rules — known commonly as Financial Fair Play (FFP) — ahead of the new season.

It is more good financial news for Cardiff, who are delivering on Tan's previous public promise to reduce the level of debt being carried by the club.


Executive Director & CEO, Ken Choo in a statement on behalf of Cardiff City said: “We would once again like to thank Tan Sri Vincent Tan for his generosity.


“Following our recent successes on the pitch, we are extremely pleased that these continue to be mirrored by financial stability off it.

“As fans, staff and players alike eagerly await the upcoming 2018/19 Premier League campaign, we also look forward to the continuation of this ongoing process in the future.”

Cardiff City Supporters Trust chairman Keith Morgan said: "This is a major boost to the club’s balance sheet position and is a further great example of Vincent Tan’ s continued commitment to the club.

“Firstly, there has been a further massive conversion of debt due to the owner Vincent Tan into equity (shares). The amount involved is a huge £66.4m and is in addition to conversions of £8m in an earlier year and £12.7m in June 2017.

“The latest conversion took place at the end of May 2018 This is a major boost to the club’s balance sheet position and is a further great example of Vincent Tan’s continued commitment to the club.

“The second piece of good news is that the club has received formal confirmation that is was compliant with the Profitability and Sustainability (formerly Financial Fair Play) Rules for the 2017-18 season just ended.

“In view of recent well publicised difficulties other football clubs have experienced with P&S (FFP) compliance, the fact that Cardiff City Football Club (CCFC) is running its financial affairs in a compliant manner is very encouraging.”

What an owner we have

As promised

What an owner we have

He is brilliant to be fair, he has made mistakes but is learning all the time !!!

And we meet FFP Rules, Well done Tan and all at the club for running the club the right way, he truly has changed this club around.

What an owner we have

He is brilliant to be fair, he has made mistakes but is learning all the time !!!

yep some horrid mistakes, not too afraid to back pedal though - always trying to move the club forward!

Anyone can see we are in a good place now

This must make us very attractive to buyers.

Incredible , he did not really need to do this.
He could have slipped quietly away and left us in the mire.
The vitriol was over the top by some.
Mistakes were made by him and us, probably culturally we both did not understand each other.

Thank you Vincent.
Tremendous Gesture.

This should be a sticky.In its way this is bigger news than any transfer.Though not as exciting.

Two stickies

viewtopic.php?f=2&t=198014


viewtopic.php?f=2&t=198015

Do we know what percentage of the club Tan now owns?

Having taken up about 640 million new shares (I think) the other share owners will have had their percentages reduced a fair way.

I only ask as, if memory serves me right, doesn't the main share holder have to offer to buy out all other share holders when they get to a certain percentage?

Last edited by Wayne S on Fri Jul 06, 2018 8:35 am, edited 1 time in total.

We really should be grateful. There are some horrible owners out there. Yes ours made a mistake. But he's been fantastic since.

Bluebirds.

What a guy. Fair play to him.

This should be a sticky.In its way this is bigger news than any transfer.Though not as exciting.

The club are doing well announcing their news every Friday to keep the interest flowing.

Many thanks Mr tan should be given the freedom of the city. On the downside my 100 shares bought as part of the kurt Nolan deal must now be worth less than a penny.

Do we know what percentage of the club Tan now owns?

Having taken up about 640 million new shares (I think) the other share owners will have had their percentages reduced a fair way.

I only ask as, if memory serves me right, doesn't the main share holder have to offer to buy out all other share holders when they get to a certain percentage?

When Man Utd went through this process it was 90%.

I'm not sure if there is a similar thing in place for us but I know once a Shareholder has 51% then they become liable totally for the club.

Many thanks Mr tan should be given the freedom of the city. On the downside my 100 shares bought as part of the kurt Nolan deal must now be worth less than a penny.

Doesn't work that way.

Tan has now bought more shares becuase the prospect of the club is going to rise. Expect your shares to rise with it.

This should be a sticky.In its way this is bigger news than any transfer.Though not as exciting.

Already a 'Sticky' on the subject but appreciate the thread from Wez

That is huge news. Well done VT and KC.

It's time for all fans to forget about the past and move on, things are looking great and Tan has done an amazing job.

This should be a sticky.In its way this is bigger news than any transfer.Though not as exciting.

Already a 'Sticky' on the subject but appreciate the thread from Wez

Not at the time of my posting though and the sticky is not exactly posted by a forum regular.



viewtopic.php?f=2&t=198015

This should be a sticky.In its way this is bigger news than any transfer.Though not as exciting.

Already a 'Sticky' on the subject but appreciate the thread from Wez

Not at the time of my posting though and the sticky is not exactly posted by a forum regular.

Give him his dummy ffss

Many thanks Mr tan should be given the freedom of the city. On the downside my 100 shares bought as part of the kurt Nolan deal must now be worth less than a penny.

Doesn't work that way.

Tan has now bought more shares becuase the prospect of the club is going to rise. Expect your shares to rise with it.

Very true. Its due to prem football. The club is worth more now than what it was back in division 2/3 days.

The club has also become a very saleable product now as well.
Sincerely hope it is not though, better Vincent than some of the rogue chairmen out there.
Sunderland,villa, birmingham , jacks

Many thanks Mr tan should be given the freedom of the city. On the downside my 100 shares bought as part of the kurt Nolan deal must now be worth less than a penny.

Doesn't work that way.

Tan has now bought more shares becuase the prospect of the club is going to rise. Expect your shares to rise with it.

Very true. Its due to prem football. The club is worth more now than what it was back in division 2/3 days.

And so the debt becomes a smaller percentage against the club because the club is now worth more.Who'd wanna be a big club like Villa anyway.

The club has also become a very saleable product now as well.
Sincerely hope it is not though, better Vincent than some of the rogue chairmen out there.
Sunderland,villa, birmingham , jacks

Absolutely and anybody who wishes VT would sell should remember the grass is not always greener on the other side

The club has also become a very saleable product now as well.
Sincerely hope it is not though, better Vincent than some of the rogue chairmen out there.
Sunderland,villa, birmingham , jacks

Absolutely and anybody who wishes VT would sell should remember the grass is not always greener on the other side

Totally agree

The club has also become a very saleable product now as well.
Sincerely hope it is not though, better Vincent than some of the rogue chairmen out there.
Sunderland,villa, birmingham , jacks

Absolutely and anybody who wishes VT would sell should remember the grass is not always greener on the other side

Totally agree

Not sure how anybody can hold a grudge against him.

The rebrand was certainly a mistake, you can see he recognizes this and is regretful. He has apologized, reversed the decision and worked very hard at stabilising and uniting the club again.

Hes great in my opinion.

The club has also become a very saleable product now as well.
Sincerely hope it is not though, better Vincent than some of the rogue chairmen out there.
Sunderland,villa, birmingham , jacks

Absolutely and anybody who wishes VT would sell should remember the grass is not always greener on the other side

Totally agree

Not sure how anybody can hold a grudge against him.

The rebrand was certainly a mistake, you can see he recognizes this and is regretful. He has apologized, reversed the decision and worked very hard at stabilising and uniting the club again.

Hes great in my opinion.

Totally agree. Some people with anger issues will find a place to vent and struggle to let it go. We’ve been lucky to have VT when you look at most other clubs.

The club has also become a very saleable product now as well.
Sincerely hope it is not though, better Vincent than some of the rogue chairmen out there.
Sunderland,villa, birmingham , jacks

Absolutely and anybody who wishes VT would sell should remember the grass is not always greener on the other side

Totally agree

Not sure how anybody can hold a grudge against him.

The rebrand was certainly a mistake, you can see he recognizes this and is regretful. He has apologized, reversed the decision and worked very hard at stabilising and uniting the club again.

Hes great in my opinion.

Totally agree. Some people with anger issues will find a place to vent and struggle to let it go. We’ve been lucky to have VT when you look at most other clubs.

He has never apologised for the rebrand and as much as you want to dress him up as a Saint he has not shown any remorse to what he put us through that horrible time.