Cardiff City Future Safe
The future of Cardiff City Football Club Limited was laid out today at an Extraordinary General attended by most of the club`s shareholders. The newly installed Chairman Peter Ridsdale detailed plans for the re-organisation of the Club's finances to secure the club a secure financial footing, and proposed a new 'transparent` chairmanship without the hidden agendas that blighted Sam Hammam`s tenure.
A new board of director`s was introduced to the attendees:
Chariman Peter Ridsdale introduced the new board members to join himself and ex-Chairman and well respected figure Steve Borley:
'As we sit here today, Cardiff City Football Club Holdings Limited has a new board of directors - those of us who were left, Steve and I had a meeting to appoint the new board. I am delighted to announce that the new board as of this moment consists of myself, Alan Whitely, who recently took over as company secretary and has been working with us for many years.'
'Steve Borley, who I am sure needs no introduction is still on the board; as is Mike Hall, who again to anybody in Cardiff needs no introduction has joined the boardroom.'
London-based businessman Jonathan Crystal and Ned Hammam (brother of Sam) have stepped down from the board.
Ridsdale also revealed financial plans for Cardiff City`s proposed new stadium, with the final arrangements been made before building can begin on the Leckwith site.
Although expected, this is good news for Cardiff City and the takeover is now officially complete. The loan notes have been written off and the club is on a surer standing financially. Hopefully some funds will be made available immediately for team strengthening and Cardiff can concentrate on matters on the field after a dire series of results.