The occasional thoughts of a Welsh rock guitarist...
Wednesday, 2 March 2016
A more optimistic future for the City?
It has been a significant last few weeks regarding Cardiff City's short and long term future. Over the last couple of months what had begun with the gloom of the club being hit with a transfer embargo (due to breaching F.I.F.A's financial fair play rules last season) has ended with a massive reduction in the clubs debts and the settlement of City's longest known debt issue. Vincent Tan's decision to write off £78 million of the debt owed to him has not only increased his personal shareholding in the club, but has also vastly improved the clubs balance sheet. More significantly however has been the full and final settlement of a debt owed to the mysterious Panamanian registered company called Langston. Historically this debt has hung over the club like a millstone since former chairman Sam Hammam's departure from the club in 2006-7. After a protracted legal battle it proved what most City fans knew all long, the identity of Langston was none other than Sam Hammam himself. With his Life Presidency due to be removed and a ban to be imposed to prevent him visiting Cardiff City Stadium in the future, things are now looking up for the club. With the team improving and currently sitting in 7th place in the Championship, hopefully an appearance in the play offs would cap off a memorable season for reasons both on and off the pitch. I had been highly critical of Russell Slade our manager, but he has worked on a much reduced budget and has enabled the team to remain competitive. He must be congratulated for turning things around after inheriting a shambolic mess following the departures of Ole Gunnar Solksjaer and disgraced former manager Malky Mackay.