Thursday, February 11, 2010

Diary of Cardiff City's latest demise

November 25
Without warning, news emerges that Cardiff City are listed in the High Court with a winding up order from the taxman (Her Majesty’s Revenue and Customs (HMRC))

Chairman Peter Ridsdale says the club have paid off “quite a lot of money” and the club were ordered to settle the debt in 70 days before a hearing on February 3.

That night, I questionned him on the Cardiff City phone in show and he told me it was a minor matter, nothing to worry about, they had already paid off most of the debt and the deadline debt of February 3rd was a safety net - yeah right!


November 26
The Football League says it was monitoring Cardiff City’s tax debt but both they and the club refused to confirm a trasnfer embargo was in place ... even though it was!


December 16
The winding up order gets dismissed as Cardiff City and HMRC reached agreement with a repayment schedule.


December 22
City immediately default on the first patyment leaving HMRC to enforce a second winding up order.


January 5
Sluggish advance season ticket sales leads to Peter Ridsdale and Dave Jones to devise a novel scheme promising all season tickets bought will lead to the money being invested in new players, the club aimed to raise £3M. 11,000 fans pay up in good faith.


January 8
HMRC's latest winding up order is set for court for February 10th unless the club pay outstanding debts of £2.7M. Risdale says it will be paid and "guarantees" new players will also be brought to the club. He tells us how we will be seeing a new player parade. What a fantasist!

January 22
Discontent emerges amonsgt the fans with Ridsdale in hiding, not talking to the press and no sign of any new players.

January 27
Ridsdale releases a press statement saying no new players will be coming and apologises for this. It causes an almighty stink3.

January 28
Rumours abound that Ridsdale is going to resign which gathers strength as a press conference is called. However, he pulls a rabbit out of the hat and tells us he is staying. His performance was awful with arrogant answers and no attempt to explain where our season ticket money has gone. All credibility, respect and trust in him has long disappared for him.


February 2
In crisis, the club turn to the council who agree to the selling off land around the stand to get £1.8M.

February 9
Stroung rumours an amount in excess of £1M was paid to the Taxman, will it be enough? The club are confiednt it is.

February 10
City get a 28 day reprieve to rasie the extra £1.4M for the taxman. Failure to do so will see the club be wound up. They also have to pay a £1.2M wage bill in late January.

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