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Ridsdale pledges cash to Cardiff

Ridsdale pledges cash to Cardiff

With Cardiff's start to the season exceeding the expectations of many fans and pundits alike, it had long been feared that Cardiff's small squad would fade and of the Bluebirds' well publicised financial problems meant that they would be unable to strengthen.

Everything changes this week however and when Sam Hammam stepped aside to allow a consortium of faceless but wealthy London businesses, Cardiff's money problems seem to have effectively evaporated. The debt currently stands at £24 million but when the deal officially goes through (expected early December) - £12 million will be released.

Peter Ridsdale explained today that only £9 million will immediately go to clearing Cardiff's debts and that £3million will go towards the team. This makes sense given that the gamble taken by using the 'hedging loans' makes the stadium and success necessary to the club. The £3m will not be a transfer kitty given to Dave Jones but will be used to cover wages, contract extensions and the like but it is now expected that Jones will be allowed to sign 2 or 3 players in January should he wish.

Crewe's Billy Jones and David Vaughan, Southend's Freddie Eastwood and Celtic's out-of-favour striker Derek Riordan have all been linked with a move to Cardiff but signing any 1 of these players would probably take the entire transfer kitty whereas Jones may prefer to sign two proven players for less but who are capable of suplementing the settled starting XI.


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

Writer:Bluebirdshroom
Date:Tuesday October 24 2006
Time: 3:41PM

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Hi, can the editor of this site email me at adam_06_mitten@hotmail.com please? I want to ask you some questions about your progress this season. I am the editor of Derby Vital Football site. Thankyou Adam Mitten
adam_06_mitten
24/10/2006 18:37:00
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