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Peter Ridsdale Profits From Cardiff City Debt !

Peter Ridsdale Profits From Cardiff City Debt !

Cardiff City Chairman Peter Ridsdale has come under fresh attack from Bluebirds fans after details of club accounts were published yesterday.


The results show that Ridsdale, through his consultancy firm W H Sports, was paid over a million pounds last year - including a one off bonus payment of £500k.


Ridsdale assured fans that the transactions were above board, I don't think anyone doubted they were, but what will disappoint and anger fans is the sheer monies involved to a club millions in debt and the total lack of transfer funds available to manager Dave Jones.


Ridsdale's time at the helm has been fraught with difficulties, but this is olmost wholly down to the horrendous situation he inherited. On face value, he seems to have some an unbelievable job re-structuring the finances, getting the stadium started and keeping the club afloat.


Ridsdale also stated that the £1/2 million he receieved was re-isvested into Cardiff City FC through acquisition of shares.


There are many 'fans' of our football club who simply love to complain. They tear shreds of anything associated with the club, many in situation they simply don;t understand and never will. The fact remains that CCFC are a business and nearly crumbled. Ridsdale was key to that recovery, which now sees us on an even keel and making £2.5m bids for players.


What are your feeling on Ridsdale's payments? Are they fair? Disappointing? Or simply outrageous?





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Click here to join in the debate on the club forum.

Writer:Bluebirdshroom
Date:Wednesday July 2 2008
Time: 10:00AM

Comments

0
Peter Ridsdale did NOT 'profit' from the City's debts - he EARNED a fee and a bonus offered to him by Sam Hamman and accepted by both Hamman and Ridsdale as fair. We might think the fee and/or the bonus was high - even too high (like the wages and transfer fees now attached to soccer players - even some of ours!). But that's what Sam offered, that's what Peter accepted. He came and he earned the money for the job [of sorting out the stadium and rationalising the debt situation] by doing the job - he then invested the bonus in the club .. he could have walked off with it. He's always been honest that he came to Cardiff to do a job - and he's done it. Good luck to him - he's been good, very good, for the club.
gtsutton
02/07/2008 11:18:00
0
I disagree - CCFC had huge debt and Ridsdale made money by managing it - he profitted personally because of Hammam's mess. The issue is whether the job he did DESERVED that big payment. I would argue that it probably did.
bluebirdshroom
02/07/2008 11:38:00
0
It's the word 'profits' in your headline that I really objected to - Peter Ridsdale was hired by Sam Hamman to do a job at a fee agreed by both - he did that job so was paid the agreed fee. When people do jobs for agreed wages/fees you don't say they've PROFITED - you say they've been PAID. If the issue you wanted to raise was whether the agreed fee was the RIGHT / APPROPRIATE one perhaps the word 'profit' [with all its implications] should have been avoided .. anyway, as far as DESERVED is concerned - I don't think ANY Premiership footballer/manager/chairman DESERVES what they get - and quite a few Championship players etc. also don't DESERVE what they get .. take JFH and RF for example ..
gtsutton
02/07/2008 11:55:00
0
A fair point but I stick by the pfact that Ridsdale 'profited' from the mess we were in. Just like Fowler and JFH profited from our wage structure cos we certainly didnt get value for money!
bluebirdshroom
02/07/2008 12:15:00
0
I still cannot believe that this man can have anything to do with football after what he did at Leeds.
dazza71
06/07/2008 16:16:00
0
Well said Daz mate. You should oly be paid on results, he's not had many good ones, but what did he trouser from the FA Cup final ?
Tiny T
07/07/2008 09:13:00
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