" OFFICIAL - CCFC: PRECARIOUS POSITION AS A GOING CONCERN"

PRECARIOUS POSITION AS A GOING CONCERN

I'm not going to write an essay, as I don't have the time and I don't want to bore you either.

We are in bad shape.

1: The current filed accounts directors statements say that we are in a 'precarious' position as a going concern. They say that we are completely reliant on VT.

2: The auditors report confirms that the above statement is true; which it has to be, as the Directors will be personally liable if anything happens and they have not disclosed it.

The other important thing is that Tan has not made a statement in the report to say that he will unequivocally continue to fund the club, which would the allay the 'going concern' risk statements by the Directors and Auditor. If he is in a position and willing to do that, it would have been said, to adress the concern.

So it's that bad.

We won't go into administration, as VT won't allow that. And I'm grateful for that and his ongoing funding but we should not be in this position, and nor should he.

But our present situation is as said, 'precarious' and is a serious risk to us as a going concern.

So if Tan continues in behaving the same way, the debt and liabilities will grow. Firefighting. The big black hole gets deeper and more difficult to climb out of. Lead boots whilst treading water hoping that 'luck' will save the day. Something simply has to give.

The club owes Tan a quarter of his family's business net worth. They are wealthy but not oligarchs. This is significant. This is hurting. His family have told him they want no part of a football business. He and they want to sell, which we if course all know. It's not just if, it's when.

But he wants his money back and the only way to do that is sustainable PL status. This will take years and require budget. This then grows the debt and makes our position even more 'precarious' as a going concern. It also affects us with FFP, of which we have seen this season.

Does he spend more of his family's money to fund us? Or does he tap the loan market who will want increasing interest rates? Probably the both.

But if he continues as he is, he will get the precisely same results and the hole will get deeper. And something has to give, one way or the other.

So the exam questions are:

1: How long will Tan continue to fund us?

2: How long can Tan continue to fund us?

3: What is Tans Plan?

He does have a very sensible option available to give him the best chance of getting what he and also everyone else wants. Yes, I'm biased but in an intelligent way, practical, not sentimental. I won't go into that, as no need.

I am not anti-Tan. I am pro-Cardiff City. He's done good things, he's done bad things. Owners come and go. Only we remain. We are the club.

So he needs to do something; because as it stands, the screenshots from the Directors and Auditors report say all you need to know.

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Thank you Paul for the Truth and your time:

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Thanks for posting that.

I think everyone can agree that you’re right, our financial position is of huge concern.

The disappointing thing, as you rightly say, is that Tan had a good proposal put to him but he has refused it.

so what has been put up on this forum for a long time is true! the club is being run to the ground he got to go.

the facts are there for all the tan lovers to see now, you have had your food mr tan you have played with it now its time to go.

im not shocked by this really but on the other hand its eye opening and very worrying, and for some to say hes running the club good etc

i also know hes been offered a very good sum for the club, but hes so far up his own ass he just cant let go he makes me sick.


please just leave

No different to any other club in the championship they all sail close to ffp and need on going investment from their owners , thankfully tan is putting the shortfall in and we have been investing in the academy and club facilities forbtje last 10 years , maybe Tan does need to go it's gone a bit stale but what if the new owners are like the jacks ,reading or Birmingham owners
? .

Wow! I'd heard some of this before but you have not only confirmed it but also explained it in a fair and balanced way...!

This is a serious business and should show all connected to our beloved club the fact that we are worrying not only our supporters but also those auditing the club and its finances

I hope there is some good debate on the topic, as the facts here speak for themselves and for me at least, needs a response from our owner; and preferably one that seeks to ally the serious fears raised within

All it would take is a verbal or written 'commitment' from Vincent Tan to reassure all concerned that we (as a club) are 'safe'

He may well have said it long before but now would be a fitting time to reiterate and reassure...

This (apart from amounts) is what most sensible fans know.
We are a club that is badly run.

The bank rolling masks a critical club situation. Actually the bankrolling makes it worse....

The fans infighting is embarrassing, as deep down we all know the situation...

"If it wasn't for Tan we'd be bust" .... etc

Fiddlers, dreamers, fuckwits and robbers come and go in the board room, the club remains....

We should be a club again. Fans together.
A couple of good posts on this recently too.

CCFC
One Club
One love

For a any club to be solvent without their owners money ,you need to be able to generate more than you spend , in simple terms got to produce home grown players and sell them for huge profit , not pay ridiculous wages to staff , and generate massive income from commercial, sponsorship and gate receipts , most clubs can't do this football, in general every club will have to change in the future , we as a club have only made a profit once in the last 30 years and that was under Tan, football eventually wilk have to have a reality check .

Get to the Premier League to make his money back, too stubborn to get a football man in. The never ending saga.

Get to the Premier League to make his money back, too stubborn to get a football man in. The never ending saga.

Basically only way he's going to get the 200million

For a any club to be solvent without their owners money ,you need to be able to generate more than you spend , in simple terms got to produce home grown players and sell them for huge profit , not pay ridiculous wages to staff , and generate massive income from commercial, sponsorship and gate receipts , most clubs can't do this football, in general every club will have to change in the future , we as a club have only made a profit once in the last 30 years and that was under Tan, football eventually wilk have to have a reality check .

You also need good suport like 40k attendances.

Under this board it just goes from bad to worse to utter shite the way our club is run.

I see the broken record Wez is still up Tans arse

Most interesting point is not if he sell but when? At some point a tipping point on his wealth will force him to take a hit and sell hopefully this season! Whilst it appears club is in perilous state
As long as Tan wants to own club we are OK despite no apparent plan to move club forward........ but will say if we are in perilous state
what's the rest of championship like?

I knew the club was being run badly yet this is total miss management from the top

This is just rehashed old news

We have been in this exact position for the last 15 years absolutely nothing has changed whatsoever

We all knew that if and when Tan ever pulled the plug on funding we would go straight into administration within days

We are exactly the same as 90% of other championship team, they are all running insolvently being bailed out by rich owners we are no different

Maybe it doesn’t specifically say that Tan will continue to fund the club anymore but it also doesn’t say he won’t

I want him gone asap but none of this is new news, nothing has changed and Tan’s options are exactly the same as they have been for years

If he has received good offers for the club and I’m not sure he has…why don’t these so called investors come forward and make themselves known…do they even exist??

This is just rehashed old news

We have been in this exact position for the last 15 years absolutely nothing has changed whatsoever

We all knew that if and when Tan ever pulled the plug on funding we would go straight into administration within days

We are exactly the same as 90% of other championship team, they are all running insolvently being bailed out by rich owners we are no different

Maybe it doesn’t specifically say that Tan will continue to fund the club anymore but it also doesn’t say he won’t

I want him gone asap but none of this is new news, nothing has changed and Tan’s options are exactly the same as they have been for years

If he has received good offers for the club and I’m not sure he has…why don’t these so called investors come forward and make themselves known…do they even exist??

No, it isn't rehashed; we have never been told both (club) Directors and Auditors are so worried they deem us in a (quote) 'precarious' position...

This is a new and very balanced report from the OP and worthy of some note...

I think you and Wez miss a huge point here in that we know a lot of clubs, like a lot of businesses, are run on debt that has to be serviced. What appears to be somehow missing is the level of growing liability compared to Tan's wealth plus his omission of being 'guarantor' for liabilities as the figure goes up. That is very worrying in itself...

You cannot realistically compare the last 15 years, as the picture has worsened to the point concern is now being stated in both reports; and the fact that Vincent Tan is not addressing it in a statement causes further doubt...

This is just rehashed old news

We have been in this exact position for the last 15 years absolutely nothing has changed whatsoever

We all knew that if and when Tan ever pulled the plug on funding we would go straight into administration within days

We are exactly the same as 90% of other championship team, they are all running insolvently being bailed out by rich owners we are no different

Maybe it doesn’t specifically say that Tan will continue to fund the club anymore but it also doesn’t say he won’t

I want him gone asap but none of this is new news, nothing has changed and Tan’s options are exactly the same as they have been for years

If he has received good offers for the club and I’m not sure he has…why don’t these so called investors come forward and make themselves known…do they even exist??

The other thing about investors or consortiums if they make offer and its rejected thats been said why hasn't a new offer from them been made ? I've never known someone making offer for a club make one offer and then dissappear! But seems to be the case here.....your probably right about nothings changed probably since 2013.....whilst undoubtedly it looks bad on here only tan knows when it's bad enough to pull plug and sell as won't pull financial plug and go into administration that's never going yo happen as he's major holder of clubs debt, can't see him taking 10p in pound so selling up is only option for him long term unless by miracle we get promoted and dont spend penny in premier league...
One thing is precarious position an excuse not to spend again in window Just a thought

For a any club to be solvent without their owners money ,you need to be able to generate more than you spend , in simple terms got to produce home grown players and sell them for huge profit , not pay ridiculous wages to staff , and generate massive income from commercial, sponsorship and gate receipts , most clubs can't do this football, in general every club will have to change in the future , we as a club have only made a profit once in the last 30 years and that was under Tan, football eventually wilk have to have a reality check .

You also need good suport like 40k attendances.

Yes that's the gate receipts in my post , this topic is just rehashed nothing new tbh .thought there was going to be new news ? I hope we are not going to have a summer on this board of these reused topics .

This is just rehashed old news

We have been in this exact position for the last 15 years absolutely nothing has changed whatsoever

We all knew that if and when Tan ever pulled the plug on funding we would go straight into administration within days

We are exactly the same as 90% of other championship team, they are all running insolvently being bailed out by rich owners we are no different

Maybe it doesn’t specifically say that Tan will continue to fund the club anymore but it also doesn’t say he won’t

I want him gone asap but none of this is new news, nothing has changed and Tan’s options are exactly the same as they have been for years

If he has received good offers for the club and I’m not sure he has…why don’t these so called investors come forward and make themselves known…do they even exist??

No, it isn't rehashed; we have never been told both (club) Directors and Auditors are so worried they deem us in a (quote) 'precarious' position...

This is a new and very balanced report from the OP and worthy of some note...

Chris read the directors report every year in the accounts , it always says words to this effect this is nothing new mate , with out the owners support we would be fooked basically.

Under this board it just goes from bad to worse to utter shite the way our club is run.

I see the broken record Wez is still up Tans arse

you're so dumb with hatred of the board that facts bamboozle you with the reality , but you can always put me on ignore ay ? .

This is just rehashed old news

We have been in this exact position for the last 15 years absolutely nothing has changed whatsoever

We all knew that if and when Tan ever pulled the plug on funding we would go straight into administration within days

We are exactly the same as 90% of other championship team, they are all running insolvently being bailed out by rich owners we are no different

Maybe it doesn’t specifically say that Tan will continue to fund the club anymore but it also doesn’t say he won’t

I want him gone asap but none of this is new news, nothing has changed and Tan’s options are exactly the same as they have been for years

If he has received good offers for the club and I’m not sure he has…why don’t these so called investors come forward and make themselves known…do they even exist??

No, it isn't rehashed; we have never been told both (club) Directors and Auditors are so worried they deem us in a (quote) 'precarious' position...

This is a new and very balanced report from the OP and worthy of some note...

Chris read the directors report every year in the accounts , it always says words to this effect this is nothing new mate , with out the owners support we would be fooked basically.

Wez, this is the first I have seen these words used amd it raises questions and for me it id very worrying...

It seems that most championship clubs are in a similar situation.
Agents and players need to take a big wage cut and stop being so greedy.

This is what puzzles me. I'm not expecting to become Man City or Arsenal regarding recruitment, but we weren't a million miles off reaching the play-offs with this squad.
Get some proper players in, and Tan could earn £150 million off one promotion. Spend nothing and come back down and do it again. Burnley have done this well.
He'd clear all debt in a few years.
Isn't Tan meant to be a successful businessman?
He's not clearing the debt pissing around in the bottom half thats for sure.

This is just rehashed old news

We have been in this exact position for the last 15 years absolutely nothing has changed whatsoever

We all knew that if and when Tan ever pulled the plug on funding we would go straight into administration within days

We are exactly the same as 90% of other championship team, they are all running insolvently being bailed out by rich owners we are no different

Maybe it doesn’t specifically say that Tan will continue to fund the club anymore but it also doesn’t say he won’t

I want him gone asap but none of this is new news, nothing has changed and Tan’s options are exactly the same as they have been for years

If he has received good offers for the club and I’m not sure he has…why don’t these so called investors come forward and make themselves known…do they even exist??

No, it isn't rehashed; we have never been told both (club) Directors and Auditors are so worried they deem us in a (quote) 'precarious' position...

This is a new and very balanced report from the OP and worthy of some note...

Chris read the directors report every year in the accounts , it always says words to this effect this is nothing new mate , with out the owners support we would be fooked basically.

Wez, this is the first I have seen these words used and it raises questions and for me it is very worrying...

Only registered charge on our football club assets is to tan and his family, there is no chance of us going into administration, even this so called dalmans money is unsecured which to me raises more questions to where the money actually came from coz who in there right mind would borrow the club 20 odd million unsecured?.

This is what puzzles me. I'm not expecting to become Man City or Arsenal regarding recruitment, but we weren't a million miles off reaching the play-offs with this squad.
Get some proper players in, and Tan could earn £150 million off one promotion. Spend nothing and come back down and do it again. Burnley have done this well.
He'd clear all debt in a few years.
Isn't Tan meant to be a successful businessman?
He's not clearing the debt pissing around in the bottom half thats for sure.

Believe it or not we are some of the highest spenders in the championship on our 1st team squad in recent years even with the embargo , with ffp there is a shift how championship clubs have and are spending there money gone are the days of just throwing 30 odd million at it , you're right about promotion tho only way Tan will get anything near the 200 million he's put in .

It seems that most championship clubs are in a similar situation.
Agents and players need to take a big wage cut and stop being so greedy.

Will come to a head at some point wages are down already in tbe championship clubs can't keep spending out .

Move along no news here. Tan will move on when the timing right . Who were the potential party interested ? Or was this pie in the sky

At end of day can anyone say when we was not in peril? Its just the life of a football club any club for that matter..... as we will not be going into administration as op says how perilous is the actual situation considering we've invested millions in off field facilities like academy ..... Wouldn’t that been better spent elsewhere?

Move along no news here. Tan will move on when the timing right . Who were the potential party interested ? Or was this pie in the sky

Not sure who's made this latest offer but there was a rumour that apparently there was a consortium from Qatar involed recently but that turned out to be false