Vital Football

Latest Cardiff City News

Cardiff City Pay HMRC £1m - But Is It Enough ?

Cardiff City Pay HMRC £1m - But Is It Enough ?

Cardiff City are imminently due in court to settle a long running saga regarding unpaid debts to HMRC - consisting of non-pair National Insurance and PAYE contributions. The club was issued with another winding up order after defaulting on a previously agreed settlement. To date, not a penny of the £2.7m debt has been repaid.

With time all but up, Cardiff City representatives have been working round the clock to secure additional funds, the main player once again being director Steve Borley, who must feel our disgust and more since it is always up to him to bail us out, while others profit from this ludicrous and perilous situation.

A land sale was rushed through by Cardiff Council, and those funds are earmarked for the HMRC. However, the question remains as to whether they will accept another 'payment plan' after being repeatedly fobbed off by Mr Ridsdale. Strangely, both HMRC and Cardiff City fans are owed ~£3m by Mr Ridsdale - but he has not the money to pay either and the season ticket money appears to have been consumed by our massive debts.

The good news is that, through the efforts of Steve Borley and Paul Guy, a sum around the £1m mark has already been raised and is being transferred. This is seen as a good faith payment, and, along with proof of the land sale - HMRC may accept this deal and allow the winding-up order to be dismissed for full payment later this month. This seems the most likely scenario, but is by no means certain and the club could find itself in administration.

A further peaceful protest is planned for after the game tonight against the financial management and lack of information regarding our situation. It appears a boardroom split has seen competing interests at board level, with the brinksmanship and ego involved preventing any improvement or investment. At present, we are surviving but with a £1.2m wage bill, and little prospect for further income in the short term - things are looking bleak.



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

Writer:Bluebirdshroom
Date:Tuesday February 9 2010
Time: 9:30AM

Login to post a comment

Best of Vital Network

Vital F1 - Blog: Baku Preview

Recent Cardiff City Articles

FA End Betting Sponsorship

Late yesterday afternoon, the Football Association announced the result of its three month review of their relationship with gambling companies and that association now comes to an end.

Sky Confirm TV Selection Windows For 2017/18

With the release of the EFL fixture lists on Wednesday morning, Sky Sports have released their outline giving fans an idea of when television selections will be made this season.

2017/18 Final Weekend Details

With the release of the Premier League fixtures last week and last Wednesday seeing the EFL following suit, the full details for the final weekends across...

30 Minute Halves - No Rebounds On Penalties?

The International Football Association Board are investigating a variety of rule book changes when it comes to the future of football.

Archived Vital Cardiff Articles

Vital Cardiff articles from

Site Journalists

Write for Vital Cardiff
Write For Vital Cardiff
Apply Here

Current Poll (see more polls)

Huddersfield MotM
Suggested By:
Murphy0%
Peltier10%
Connolly0%
Morrison0%
Richards40%
Gunnarsson10%
Ralls0%
Bennett0%
Pilkington0%
Zohore20%
Hoilett0%
Sub-Whittingham10%
Sub-M Harris0%
Sub-Lambert10%
ScoopDragon Publishing Entire League Network of Sites
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Cardiff City Results (view all)

Cardiff City Fixtures (view all)

The Vital Football Members League