How much Debt are we actually in?

[Super Nintendo Chalmers]

I'm sure some people will be angered by this post but I'm not trying stir up shit here. I just don't know. I don't know where to find a definitive figure despite searching online. In fact, I'm not sure if there is a definitive figure as I know it's a complex issue. But does anyone know what Cardiff City FC's debt stands at overall? Thanks in advance.🙂

[The Lone Gunman]

Re: How much Debt are we actually in?

I'm sure some people will be angered by this post but I'm not trying stir up shit here. I just don't know. I don't know where to find a definitive figure despite searching online. In fact, I'm not sure if there is a definitive figure as I know it's a complex issue. But does anyone know what Cardiff City FC's debt stands at overall? Thanks in advance.🙂

When the latest accounts were published in March it was reported to approximately £138 million.

[Joe Gillis]

Re: How much Debt are we actually in?

When the latest accounts were published in March it was reported to approximately £138 million.

That can't be?
Vincent told us we'd be debt free in five years, that was about 8 years ago

[The Lone Gunman]

Re: How much Debt are we actually in?

That can't be?
Vincent told us we'd be debt free in five years, that was about 8 years ago

I remember a fractious meeting at the CCS back in 2012, during which a small number of us dared to oppose the rebrand.

After that meeting, two prominent fans, one of whom posts on here, stood in front of the BBC cameras, slagged us off and told the world the club would be ‘debt-free within days’ if Vincent Tan got his way and the club was rebranded.

That went well.

[MacAdder]

Re: How much Debt are we actually in?

Nooooo!!! :facepalm:
Seven pager coming up!

[Tuerto]

Re: How much Debt are we actually in?

I remember a fractious meeting at the CCS back in 2012, during which a small number of us dared to oppose the rebrand.

After that meeting, two prominent fans, one of whom posts on here, stood in front of the BBC cameras, slagged us off and told the world the club would be ‘debt-free within days’ if Vincent Tan got his way and the club was rebranded.

That went well.

Was that the interview where one of our 'Superfans' compared Treats with Skittles? A true Alan Partridge moment.

[William Treseder]

Re: How much Debt are we actually in?

Who’s gonna be interested in buying a backwater club like ours with that kind of debt hanging over it?

[Hilts]

Re: How much Debt are we actually in?

I remember a fractious meeting at the CCS back in 2012, during which a small number of us dared to oppose the rebrand.

After that meeting, two prominent fans, one of whom posts on here, stood in front of the BBC cameras, slagged us off and told the world the club would be ‘debt-free within days’ if Vincent Tan got his way and the club was rebranded.

That went well.

Did Vincent Tan ever say we'd be debt free within days?

I remember a target of a few years which obviously hasn't happened but can't recall ever being promised being debt free within days?

[The Lone Gunman]

Re: How much Debt are we actually in?

Did Vincent Tan ever say we'd be debt free within days?

Vincent Tan hadn’t said anything at all about the club at that stage. The ‘debt-free within days’ line was being peddled by prominent club officials and the fanbase’s rebrand cheerleaders.

Their claim was that Tan was going to settle the Langston debt, pay off the other remaining debts and convert all the money owed to him into equity provided the rebrand went ahead.

A few of us called bullshit at the time and were met with abuse and threats of violence for our troubles.

[Enoch Mort]

Re: How much Debt are we actually in?

That can't be?
Vincent told us we'd be debt free in five years, that was about 8 years ago

It was in 2016 he said that we would be debt free in 5 years. What the Board have said recently is that, because the club debt is owed entirely to VT and MD and not any commercial institutions the club is “in effect” debt free. Unconvincing

[City123]

Re: How much Debt are we actually in?

It was in 2016 he said that we would be debt free in 5 years. What the Board have said recently is that, because the club debt is owed entirely to VT and MD and not any commercial institutions the club is “in effect” debt free. Unconvincing

Ah that's reassuring...

[Crisp White Lines]

Re: How much Debt are we actually in?

It was in 2016 he said that we would be debt free in 5 years. What the Board have said recently is that, because the club debt is owed entirely to VT and MD and not any commercial institutions the club is “in effect” debt free. Unconvincing

Yep, neither would walk away without wanting (some level of) repayment.

They'd try to include that in the asking price, which would deter anybody who may have shown some fleeting interest.

So, in effect, the club has a significant level of debt, which could prove to be the reason it won't be sold for a long, long time.

[az city]

Re: How much Debt are we actually in?

For owners, debt has its benefits - it provides a stream of interest and pushes you up the queue of creditors if the club goes tits up. No way are Vinny and Mehmet converting their debt to equity while spiraling towards L1.

Different question, how insolvent is the club (without Vinny)?

[Father Dougal]

Re: How much Debt are we actually in?

Yep, neither would walk away without wanting (some level of) repayment.

They'd try to include that in the asking price, which would deter anybody who may have shown some fleeting interest.

So, in effect, the club has a significant level of debt, which could prove to be the reason it won't be sold for a long, long time.

Yeah but once the club is sold they'll be buying a debt free club? Obviously nobody is going to clear his debts but the longer he hangs on the more he's going to lose.

Unless he plans to speculate to accumulate and get us promoted back to the Championship?

[splott parker]

Re: How much Debt are we actually in?

Vinnie is 73 now, no spring chicken. I do wonder what plans are in place when he eventually shuffles off, what are his family likely to do? Shut up shop?