oh no not more problems for cardiff city HIGH COURT AGAIN

I hope gethin has a plan b for paying it. If Ledley goes to Celtic we won't be paying the revenue again !!
What are the odds of another nothing statement on the official site today? Looks like our first eleven for Sheffield utd will look very familiar unless we have a fire sale

Thins are going from bad to worse. This also means another tranfer embargo and no new players. I wouldnt be suprised if DJ has thoughts of leaving the club.

I hope gethin has a plan b for paying it. If Ledley goes to Celtic we won't be paying the revenue again !!
What are the odds of another nothing statement on the official site today? Looks like our first eleven for Sheffield utd will look very familiar unless we have a fire sale

Plan B will be Chopra to Ipswich.

I'm wishing we'd taken the £4m now.

Other worry is that IF we get money in for transfers its likely at least some of this will have to be paid to Ranson's lot as they have security against the clubs assets.

There might also be money to come from elsewhere (league prize money, TV income, FA payments, sponsors payment etc..)

FFS, makes you wonder what else is around the corner!

Uncle Fester going round the corner with the City is like saying Candyman in the mirror 3 times - do we dare

who is going to keep putting money in as ive heard the malaysians wont unless others do ?

Sam?

Use his money to pay of PMG and we are left with a Sam/Malaysians partnership.

Lets just go into admin now and have done with it, then let the Malaysians take full control and rooted out EVERYONE else at the club

There is clearly a power struggle going on here. The Malaysians are very very good businessmen and quite rightly why on earth would they just pump their millions into the club while the other shareholders just watch them do it rubbing their hands. They will have been fully aware of the lack of income streams going forward and the need to pay off substantial debts in the short term and is why they sensibly have only acquired the number of shares they needed to gain control

Sam is also a shrewd businessman and can see a clear opportunity to once again get involved with the club he clearly loves. He is the only other shareholder willing to invest which the Malaysians have made clear they want to see happen and has a very strong playing card re the Langstone debt. I have heard that their is every chance that the stadium naming rights could be in place in the next couple of weeks which will help in getting the Langstone debt repaid by the year end which has to be a primary target with the remaining debt possibly being converted into shares by Sam.

One has to believe that Sam has had some indication from the Malaysians that the door is open to his possible involvement to go to the extent of inviting his so called 'inner circle' to London and also to release the story to the press. I wouldn't be surprised if the publicity was organised to unsettle the likes of Guy etc forcing them to the negotiating table on the back of possible administration once again from the Inland Revenue

http://www.newsoftheworld.co.uk/sport/football/865662/NEW-CARDIFF-BUST-THREAT.html


CARDIFF CITY are again on the brink of going bust over a £1.3million tax bill.

They face another winding-up order in the High Court on August 11 - just three days after kicking off the new season.

Cardiff will go into administration if they fail to prove they can settle the debt.

That would see the team of Dave Jones hit with at least a 10-point deduction, plunging last season's play-off finalists to the bottom of the Championship. Fans thought the club's future was secured with the arrival of Far East investors in May.

Their £6m staved off the threat of winding up brought over a £2m-plus tax bill.

The consortium, led by tycoon Dato Chan Tien Ghee, owns 39 per cent of the club and vowed to save them. Yet a Sport of the World investiga
tion has revealed Cardiff still owe HM Revenue & Customs £1,331,072. Player and staff wages for June were not paid on time - though banking red tape was blamed.

Cardiff also owe Sunderland £1.5m for striker Michael Chopra and are likely to face a transfer ban over non-payment.

Chief exec Gethin Jenkins said: "HMRC has launched a petition in the event we don't pay the PAYE bill. We are confident of settling it in the next couple of days."

by Bluebird4eva » Sun Jul 04, 2010 12:07 am

Gethin Jenkins said hes confident it will be paid, so lets wait and see before panic sets in eh.

HOW can he say this, either we can pay it or we cant, its not like promising the missus to paint the fence "yeh i'll do it this afternoon"

im thinking it may be best to go through admin, get ride of all the debts, all the eggers an dget TG and VT to buy us back on the cheap, 10 points thats nothing ok we may not get that promotion we want but we would deffo be above mid table.

the worst outcome another year in the most challenging league in the world

just checked my mail and have recieved this from our friend in malaysia

About investments, I have been ringing TG but to no avail. He may have already gone to Cardiff for all we know as his Malaysian line is unreachable.

Or gone into hiding.lol

Or gone into hiding.lol

Or gone into hiding.lol

he is not up here in porth

Or gone into hiding.lol

he is not up here in porth

Who in their right mind would be

Or gone into hiding.lol

he is not up here in porth

Who in their right mind would be

i am being held against my will up here, i bit like terry waite

Any brownies left in river by lodge pub?

Any brownies left in river by lodge pub?

just come back from there lost 2 big uns this morning alsays catch and release, and by the way the lodge is gone!!! theyy are putting in a new pumping station, had a couple of grayling further up there in the week and a couple of small salmon

will have to meet up one day and then one day take you to the Teifi lol

will have to meet up one day and then one day take you to the Teifi lol

sooner rather than later, i am away from tues going to turkey, packed the spinning rod braid and a bag of lures teifi as soon as i come home, in august i have got lessons with hywel morgan booked


carl we shal fish the teifi oh yes we shall

POSH

Hmm, sell players - once PMG, Ranson have their cut would we still be able to pay tax bill from it?

Out of interest, during the time Sam was at the club, can anyone tell me how many winding up orders were petitioned agianst the club at the high court?
Also I know there was that one time where the wages were paid late, when Sam fronted up to the other directors to show some wedge, But were there any other times the wages were paid late during his time?

it seems that the only people connected to the club that are prepared to put their hands in their pocket seems to be TG
It also looks like the egg chasers are happy to let bills slip away without them even thinking of helping out
It could be that the only way to rescue us would be for Sam and TG to join forces and do everything possible to rid us of the egg chasers who in my opinion have bled the club dry along with the Riddler
I would suggest that all members of this board weigh up the facts before us and decide
Do you want this cash crisis to continue all through the season and transfer embargos etc
Or would you rather the club to be run on a sound financial footing and the extra players that we need signed for a big push to the premiership
I beleive that if someone other than TG is prepared to invest i think we will get TG and VT to back it with more of their money
if it is only Sam that is prepared to invest then so be it and i would be happy as long as he only looked after the football side of things
please lets get our beloved football club back on track and into the premiership

correct
the eggs want someting out eveytime they put something in.
they took shares in the club making them owners, just like TG and VT did witht the obvious difference they paid cash.
yet they are sitting back letting bill after bill mount up wainting for the new sugar dady to stump up.

reality check eggers you own part of the company, put part of the bill money in (for free) not that there's much left to take anyway apart for the stadium itself.

I think the truth is PMG don't have to do anything. They've got this preferred creditor thing so if we go tits up they get first dibs at the firesale. They are bound to get all their money back with little left over for anyone else.
And if you think about it, if PMG want their money out sooner rather than later then a forced firesale would be the quickest way of getting it. Unless they can find someone to buy their debt off them, but buyers seem to be very rare these days.
Fact is though, they don't seem too keen to pay some bills do they.

http://www.newsoftheworld.co.uk/sport/football/865662/NEW-CARDIFF-BUST-THREAT.html


CARDIFF CITY are again on the brink of going bust over a £1.3million tax bill.

They face another winding-up order in the High Court on August 11 - just three days after kicking off the new season.

Cardiff will go into administration if they fail to prove they can settle the debt.

That would see the team of Dave Jones hit with at least a 10-point deduction, plunging last season's play-off finalists to the bottom of the Championship. Fans thought the club's future was secured with the arrival of Far East investors in May.

Their £6m staved off the threat of winding up brought over a £2m-plus tax bill.

The consortium, led by tycoon Dato Chan Tien Ghee, owns 39 per cent of the club and vowed to save them. Yet a Sport of the World investigation has revealed Cardiff still owe HM Revenue & Customs £1,331,072. Player and staff wages for June were not paid on time - though banking red tape was blamed.

Cardiff also owe Sunderland £1.5m for striker Michael Chopra and are likely to face a transfer ban over non-payment.

Chief exec Gethin Jenkins said: "HMRC has launched a petition in the event we don't pay the PAYE bill. We are confident of settling it in the next couple of days."

Just a couple of comments on the NOTW story which contains a few misleading statements.

NOTW are getting liquidation (which would follow a successful winding up petition being made into a winding up order) and Administration mixed up - they are two totally different things with widely differing consequences.

The debt now due to HMRC is the leftovers of the mess created by Peter Ridsdale , not the new regime and seems to be of a size which relates to 2 or 3 months PAYE/NI if it wholly relates to income tax (it could contain v.a.t. of course). HMRC can hardly be criticsed for pressing the club to keep fully up to date with its tax affairs bearing in mind the track record of previous management.

I thought it was now the general concensus that agreement had been reached with Sunderland over the payment terms for Chopra , so there would be no risk of a transfer embargo on that score.

TG and Vincent Tan`s shareholding is not 39%.

I am not saying that the NOTW story is entirely without foundation.Its just that the errors in it suggest they have not fully researched it and/or their "source" within the club may not fully understand these things himself - which is a bit dangerous if he is willingly leaking these stories as "fact".

Keith

correct
the eggs want someting out eveytime they put something in.
they took shares in the club making them owners, just like TG and VT did witht the obvious difference they paid cash.
yet they are sitting back letting bill after bill mount up wainting for the new sugar dady to stump up.

reality check eggers you own part of the company, put part of the bill money in (for free) not that there's much left to take anyway apart for the stadium itself.

I am far from being an apologist for PMG - indeed I was quite heavily criticised on here not that long ago as a Trust board member for asking them to do right by the club by doing all they could to facilitate the Malaysian investment (including by some people who now have a go at them at every opportunity - posters who have more faces than a town hall clock and who change their minds more often than their socks ).

But to say PMG haven`t put cash into the club is just nonsense - they have put more in than anyone else , including Langston.

just checked my mail and have recieved this from our friend in malaysia

About investments, I have been ringing TG but to no avail. He may have already gone to Cardiff for all we know as his Malaysian line is unreachable.

Who is your friend in Malaysia?

Keith a genuine question, have PMG really put in more than Langstone, like others we get to hear stories that turn into chinese whispers, I remember the 9 million i believe needed for the stadium shortfall but was that their money or did they just guarantee th loan from the Principality, either way I suppose it would have been down to them if it had gone tits up.

How much else do you think or know they have put in and how much do you reckon we stll owe to them.

I also heard they get paid a 90 odd thousnad pounds a month, would this be premier seat money or interest on loan or even direct repayment, cheers for info if you have it.

Keith a genuine question, have PMG really put in more than Langstone, like others we get to hear stories that turn into chinese whispers, I remember the 9 million i believe needed for the stadium shortfall but was that their money or did they just guarantee th loan from the Principality, either way I suppose it would have been down to them if it had gone tits up.

How much else do you think or know they have put in and how much do you reckon we stll owe to them.

I also heard they get paid a 90 odd thousnad pounds a month, would this be premier seat money or interest on loan or even direct repayment, cheers for info if you have it.

They put in £11.3m Gwyn, plus they have what £2-£3m of shares

How much did Langstone put in ? £24m , so you may well have a point.

Apart from Langstone then PMG will have put in more than the others, although the Malyasians will now be on £6m of shares plus roughly £1m just loaned for wages etc.. (at a guess).

That £90k per month is alomst certainyl going toward what is owed to PMG, whether its loan or interest on that loan, which was £9.7m around jan if what was reportted was correct, then reduced by land sale £1.9m and now £300 debt for equirty with a possible £2.7m more, so if the £90k per month has been paid then it will have been reduced quite a bit by now (to about 37-£8m dependent on how much interest has accrued).

I wonder, like you, however if the £90k is ON TOP of the Premier club income (if we've got 1000 members paying £1000 p.a each it would be about right) which goes directly to an account controlled by PMG, if so its not hard to see how they will be paid off by 2013.