Cardiff City Stadium

Next Game

Cardiff v Blackpool

Saturday, 25 April 2015, 15:00

Sky Bet Ch'ship

Cardiff City Stadium

Last Game

Cardiff 0 - 0 Millwall

Saturday, 18 April 2015, 15:00

Sky Bet Ch'ship

Tan reveals Cardiff debt plan

Cardiff owner Vincent Tan hopes to reach an agreement with creditors Langston Corporation as he attempts to wipe out the club's debts.

Last Updated: 18/07/13 at 19:24 Post Comment

Vincent Tan: Hopes to reduce the club's debts

Vincent Tan: Hopes to reduce the club's debts

The debt to Swiss-based financial company Langston, of whom former Bluebirds chief Sam Hammam is a representative, was taken out in 2004 and is believed to be worth £24million.

Recent figures revealed that Cardiff are £83million in debt, but Tan is determined to reduce this amount and talks have begun with Hamman, who was invited to watch the presentation of the Championship trophy in April.

The Malaysian plans to convert the substantial amount he is owed by the club into equity if there are successful negotiations with the Langston Corporation.

"We are talking to Sam Hammam to try to resolve the Langston issue," said Tan.

"I have been talking to Sam. We have been friendly, talking. I like to regard Sam now as my friend and we will come around and resolve this.

"We are days away from an agreement and then we can convert all the loans to equity.

"That will make us much more secure and hopefully debt free, which is good.

"That's my goal - to make the club debt-free, so that the club won't be under any threat and after that we just have to manage it prudently, run it like a business."

Some sections of the Cardiff fans remain critical about the club's decision to change the colour of home shirts from blue to red.

Tan believes he still has the backing of the majority, but is willing to walk away if he is not given their continued support.

"I want to be here for as long as I am very welcome. If too many fans show we are not welcome, maybe you will have a new owner," he said.

"But right now my experience is we are very welcome.

"We need the fans to support us and not be negative or disruptive or unnecessarily criticise us too much.

"I'm disappointed that after 51 years of not being in the top-flight that there are still some fans who don't think we have done a good job.

"I may say maybe they are not grateful so that part is disappointing, but like anything in life in democracy you won't have 100 per cent support."

Related News

Most Commented

Readers' Comments

Y

ou can win five in a row or lose five in a row... Or in Carver's case you can win one in a row or lose five in a row.

black_waltz
Carver: I'm up to the job

C

AMPAIGN, CAMPAIGN it's a clearly a CAMPAIGN

mario for pm
Chelsea's poor 'respect' rating

S

epp Blatter really is very, very good at this isn't he? Terrible human being, but really good at it.

megabrow (cufc)
Blatter 'like Jesus and Mandela'

Footer 365

Aston Villa 2-1 Liverpool: Villa reach FA Cup final after comeback win stuns Reds

Aston Villa produced a stunning fightback to beat Liverpool 2-1 at Wembley and reach their first FA Cup final for 15 years.

Vinnie Jones says Leeds United do not need Russell Crowe takeover

Vinnie Jones admitted that Leeds United’s demise is a ‘sad situation’ and insisted Russell Crowe is not the answer.

Manchester City 2-0 West Ham: Sergio Aguero strikes in easy win

Manchester City closed the gap on third-placed Manchester United after a comfortable 2-0 victory over West Ham.

Mail Box

Respect, But Never Admiration For Chelsea

Football's about entertainment, the Mailbox says. Which means Manchester United supporters are happy with never winning the league if the football is good...

Wenger's Titles Down To United Woes...

Well, it's certainly one theory. Man United fans are out in force - decrying Wenger and defending FFP. We have mails on Coquelin, Coutinho and Mediawatch...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company