Western Mail...READ ALL ABOUT IT!
Sat Jan 09, 2010 7:36 am
Well, read it, but don't believe all you read.(except the part about Wales biggest club, that's true)
http://www.walesonline.co.uk/footballna ... -25558916/
New tax bombshell for Cardiff City
Jan 9 2010 by Paul Abbandonato, Western Mail
Add a comment
Recommend
CARDIFF CITY chairman Peter Ridsdale was forced to deal with fresh questions about the club’s future last night after Her Majesty’s Revenue and Customs slapped a new winding-up petition on Wales’ biggest club.
The bombshell news put the Bluebirds on the back foot at a time when manager Dave Jones would have been wanting everyone to focus upon three crucial promotion points against Blackpool today.
Cardiff’s hierarchy reacted to the petition by insisting the tax bill would be paid in time to avoid another High Court hearing in London on February 10.
That date has been set aside after HMRC served the new petition following City’s failure to pay the first instalment of a £2.7m tax bill by an agreed December 22 date.
Until the debt to the HMRC is resolved, Bluebirds boss Jones will have to work under transfer restrictions.
The Football League will not register any new players for the Bluebirds until the taxman is satisfied, although there is no block on selling players.
But Ridsdale insisted the money would be paid to HMRC by the end of the month and also pledged three new players would be brought in during the January transfer window to bolster Jones’ promotion-chasing squad.
City’s manager has targeted two midfielders and a striker to build upon the satisfactory first five months of the season. One will be a permanent signing, the other two loans.
Ridsdale said: “Dave has given me a shopping list of four players.
“I’m fully confident that at least three of the four will have joined us by the end of January.”
The club have valued their players’ combined transfer value at £32m, knowing the likes of Joe Ledley, Michael Chopra, Peter Whittingham, Jay Bothroyd and Ross McCormack have attracted interest from other teams.
However, Ridsdale maintained there would not be a fire sale of the best players to resolve the short-term tax problem.
The only likely player to depart is Welsh teen star Adam Matthews, who could be made an offer by one of the Premier League giants that Cardiff believe would be unfair on the youngster to turn down.
Ridsdale was remaining upbeat about the club’s future, insisting there were three new revenue income streams where money was being generated.
The first is TV money coming to the club from the Premier League, the second is outside investment and the third is said to be an “asset” to the club.
The chairman would not say what that asset was, but one theory is that it could be part of land around the Cardiff City Stadium that could be sold.
The new HMRC petition was slapped on Cardiff after the club defaulted on a payment plan following a previous court hearing. Ridsdale claims the payment was only missed on the selected date in December because of technical reasons and insisted the debt to HMRC would be paid.
“We have every confidence that monies owing to HMRC will have been repaid by the end of January,” said Ridsdale.
“In discussions with HMRC at the end of December 2009, we confirmed that we would pay monies owing to them by the end of January 2010.
“HMRC booked a back stop date of February 10 to go back to court if, for any reason, we had not been able to fulfil our obligations to pay by the end of January. There is no immediate threat.”
He went on: “I’m confident about the future of the club.”
http://www.walesonline.co.uk/footballna ... -25558916/
New tax bombshell for Cardiff City
Jan 9 2010 by Paul Abbandonato, Western Mail
Add a comment
Recommend
CARDIFF CITY chairman Peter Ridsdale was forced to deal with fresh questions about the club’s future last night after Her Majesty’s Revenue and Customs slapped a new winding-up petition on Wales’ biggest club.
The bombshell news put the Bluebirds on the back foot at a time when manager Dave Jones would have been wanting everyone to focus upon three crucial promotion points against Blackpool today.
Cardiff’s hierarchy reacted to the petition by insisting the tax bill would be paid in time to avoid another High Court hearing in London on February 10.
That date has been set aside after HMRC served the new petition following City’s failure to pay the first instalment of a £2.7m tax bill by an agreed December 22 date.
Until the debt to the HMRC is resolved, Bluebirds boss Jones will have to work under transfer restrictions.
The Football League will not register any new players for the Bluebirds until the taxman is satisfied, although there is no block on selling players.
But Ridsdale insisted the money would be paid to HMRC by the end of the month and also pledged three new players would be brought in during the January transfer window to bolster Jones’ promotion-chasing squad.
City’s manager has targeted two midfielders and a striker to build upon the satisfactory first five months of the season. One will be a permanent signing, the other two loans.
Ridsdale said: “Dave has given me a shopping list of four players.
“I’m fully confident that at least three of the four will have joined us by the end of January.”
The club have valued their players’ combined transfer value at £32m, knowing the likes of Joe Ledley, Michael Chopra, Peter Whittingham, Jay Bothroyd and Ross McCormack have attracted interest from other teams.
However, Ridsdale maintained there would not be a fire sale of the best players to resolve the short-term tax problem.
The only likely player to depart is Welsh teen star Adam Matthews, who could be made an offer by one of the Premier League giants that Cardiff believe would be unfair on the youngster to turn down.
Ridsdale was remaining upbeat about the club’s future, insisting there were three new revenue income streams where money was being generated.
The first is TV money coming to the club from the Premier League, the second is outside investment and the third is said to be an “asset” to the club.
The chairman would not say what that asset was, but one theory is that it could be part of land around the Cardiff City Stadium that could be sold.
The new HMRC petition was slapped on Cardiff after the club defaulted on a payment plan following a previous court hearing. Ridsdale claims the payment was only missed on the selected date in December because of technical reasons and insisted the debt to HMRC would be paid.
“We have every confidence that monies owing to HMRC will have been repaid by the end of January,” said Ridsdale.
“In discussions with HMRC at the end of December 2009, we confirmed that we would pay monies owing to them by the end of January 2010.
“HMRC booked a back stop date of February 10 to go back to court if, for any reason, we had not been able to fulfil our obligations to pay by the end of January. There is no immediate threat.”
He went on: “I’m confident about the future of the club.”
Re: Western Mail...READ ALL ABOUT IT!
Sat Jan 09, 2010 7:42 am
As I just said on the other thread, if that's an expose, I'm George Clooney. More pathetic "journalism" exemplifying why so few get any info whatsoever out of the paper. Not taken the paper in years, can't see that changing any time soon.
Re: Western Mail...READ ALL ABOUT IT!
Sat Jan 09, 2010 7:47 am
surely we don't own any land that can be sold off. it has to be a player/players.
chopra to ipswich.
chopra to ipswich.
Re: Western Mail...READ ALL ABOUT IT!
Sat Jan 09, 2010 7:55 am
Nothing new there really. There's nothing much more for him to mortgage really is there. The only assets we really have are our players and without investment it's only a matter of time before we have to cash in on them. Time to go Peter, that's enough !!!!!
Re: Western Mail...READ ALL ABOUT IT!
Sat Jan 09, 2010 8:03 am
Surely it has to be Mathews as the other asset?
Re: Western Mail...READ ALL ABOUT IT!
Sat Jan 09, 2010 8:12 am
There really is nothing new there.
More info. on this and mike's sites.
The Echo has no chance when up against people with direct links to the club who live for it, and directors posting on message boards
More info. on this and mike's sites.
The Echo has no chance when up against people with direct links to the club who live for it, and directors posting on message boards
Re: Western Mail...READ ALL ABOUT IT!
Sat Jan 09, 2010 8:14 am
the f*cking clown states,im CONFIDENT the owing money will be paid by the end of january........f*cking confident,you tosser....you should be saying it will be paid monday,that gives time to bring players in then,what has happened to the season ticket money?why has he lied twice regarding when the bill will be payed?risdale your pissing me off now,shape up or ship out.say the truth to us the people whose money makes the club tick.