Company Director Ban For Ex-Cardiff Boss Ridsdale
Former Cardiff City Chairman Peter Ridsdale has been handed a lengthy ban to prevent him holding any director positions within companies. It will be almost 8 years before 'The Riddler' can hold any such positions as his mysterious company WH Sports whereby he was paid handsomely for his various roles whilst at Cardiff City.
Ridsdale's financial decicion making has rasied plenty of eyebrows over the years, with Leeds United fans particularly vehement over his tenure there. Since then, he gained a reputation as a 'fix-it' man and was regularly charged with sorting out clubs with struggling finances. His CCFC tenure nearly ended in disaster, and we remain saddled with debt. H then took over at Plymouth Argyle, before finding his current role at Preston North End.
Famous for the'Golden ticket scheme' at Cardiff City, our fans were left bemused after thousands signed up for season tickets apparently on the promises of monies raised being used for 'squad strengthening'. Just a short while later, our outstanding HMRC debts and woeful financial position was revealed. No signings were made.
WH Sports was liquidated in 2009, with huge debts outstanding. At the time, 'PR Pete' insisted that nothing was amiss but today agreed that he was in breach in making payments from company accounts to his own personal account and additionally failing to disclose relevant transactions to the liquidators.
Today's news came as a result of a full investigation by Company Investigations, a part of the Insolvency Service.
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