Yanks Very Much - Americans to bid for Cardiff City

The Sunday Times are reporting rumours that an American bank are expecting to commence takeover talks for Cardiff City within weeks.

The investor is believed to have several options including a full £35M takeover of the club to taking on the £15M Langstone debt – the mysterious Swiss company whose only representative appears to be Sam Hammam. Hammam spoke with Ridsdale last week, I wonder if that was a forerunner. City, of course, have been seeking investment for over a year and have taken Football’s Mr Fixit, Keith Harris, as a non-executive director to help broker a deal.

In these times of recession, risk and responsible tightened lending, you have to wonder if a bank want to be involved with a football club. On the other hand, with the club struggling to get major sponsorship for the new stadium including aiming rights which they aimed to sell for £9M to part-repay Langstone, it makes sense City will be looking for new finance or refinance.

More as further news emerges.