This morning's News of the Screws carries a back page exclusive (aren't they all?) that the consultancy firm WH Sports owned by Cardiff City Chairman Peter Ridsdale has gone bust owing over £400,000 mostly to HM Customs and Revenue.
Ridsdale and his wife set up the company a couple of weeks after he departed Leeds but since being involved with Cardiff City, it is doubtful whether The Riddler has been involved in any consultancy at all.
There are suggestions that its only income in the past 2 years were Cardiff City bonuses of £1 Million in 2007 and a more meagre but still excellent £328,000 in 2008. Quite why 2008 was so much lower when City were so much more successful has never been made clear.
It's hard to make any judgements on this at present. It certainly again doesn't show Ridsdale's business acumen in a good light, some would suggest the company is set up pretty much as a tax vehicle. Whether this has knock-on implications to the football club remains to be seen.
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