IF ONLY HANDCUFFS WERE ON HIM
It is being reported that Peter Ridsdale will receive his final payment in mid-October finally taking him off the gravy train that he rode for as long as possible at Cardiff City. Ridsdale will prefer to remind the public how he removed Sam Hammam, created a play-off challenging side, took City to a F.A. Cup Final and oversaw the arrivals of the Malaysians.
However Cardiff fans know it came at a very heavy cost which nearly saw the club collapse. Fans will also remain bitter over how Ridsdale treated them badly and seemed to mislead them which ultimately brought about demos earlier this year to vent their feelings.
T.G. and key investor Vincent Tan are supposed to have driven a hard bargain and, in the process, hopefully delivered a more secure and forward looking Cardiff City and show that they’re here for a while, not just a one season tilt.
Ridsdale was entitled to nearly £1M to leave the club (I’ve no idea how he managed such an outrageous amount on top of everything else he plundered) but the Malaysians are reported as having him settle for £500k but also made it a condition that he sold his shares to them.
PR’s shares were also controversial. Buying them at 15.69p, a price nobody else could get near, he also had a stadium completion bonus which were converted into shares at an incredible 11.11p giving him over 4.5M shares, 10.1% of the stock.
However, TG and VT are believed to be buying them at 5p. Their larger stake in a club they kept in business and have turned around dramatically makes for fantastic news.
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