Quote Originally Posted by Badly Ironed Shirt View Post
Sorry to harp on about it but if Tan had converted the debts to equity as he had promised, then he would not be allowed to "pocket all the promotion money". As it is, the club owes him a huge amount of money and he can call in his debts at any time which makes a scenario of him pocketing the club's promotion money a possibility (although I think it's an unlikely possibility).

And what is that debt? £100m ish.



How much do you think it has cost him to keep the club afloat? £100m? No chance and let's also not forget that the club was also in receipt of Sky money for the last few seasons. A lot of that £100m was spent on an ego trip in 2012-14. Money that HE decided to spend, extra wages that HE incurred on the club, extra building work that HE decided was necessary etc etc. Now, we have a situation where at least one Cardiff fan (you) seems to be making allowances for Tan to recoup the money he has lost in numerous failed gambles if he so desires. He is a billionaire, he made a conscious decision to buy Cardiff City. I assume he did so knowing what the finances were like at the time. These are risks he happily accepted.

The club's debt has increased 5-6 times under his management/ownership - how much of that debt is down to mismanagement, overspending (Madine £6m, Tomlin £2m - just this season's examples of "keeping the club afloat")?

At no stage has Vincent Tan taken responsibility for the bad decisions he has made. He was quick to blame Mackay for the signing of Cornelius (which, you would assume, would have been signed off by the CEO), and he has wasted no opportunities in reminding the media about that signing.

What were the administration costs at Cardiff City in the Premier League? What were those fees for? Agent's fees? Or something else? How much money do the club owe Vincent Tan for Vincent Tan flying various dignatories to Cardiff from Malaysia for the odd game? Is it £0? Is it more? Do these count as "keeping the club afloat"?

What about the 1MCC project? How much do Cardiff City owe Vincent Tan for this? Is it £0? Is it more? If it is more, are these costs also attributable to "keeping the club afloat".

I agree with you in that I don't think Tan will "pocket the money". But, if he does, I sincerely hope that more is said than "Ah well, he did keep the club afloat for a few years" because it really doesn't seem to be as simple as that does it? Vincent Tan is responsible for the success or otherwise of the business whilst he is the owner. If it turns a profit, then he has every right to take a dividend. If it turns huge losses, then I think he needs to take responsibility too. I am not suggesting he won't take responsibility (although there are very few signs that he is doing that, just empty promises often underwritten with less than clear reasons for not being made) - but I am alarmed that one of the more sensible and more well researched fans on this board is willing to accept an owner "pocketing the money" given the less than clear backdrop of Cardiff City's finances.

Here's a question - if TG remained as the "owner" without investment from Vincent Tan, do you think Cardiff City would be as heavily in debt today?
You really have excelled yourself with this load of crap. Suffice to say it is Tans money and he can do with it what he likes. PS. TG didnt own the club as far as I am aware, he was a figurehead and the money was other peoples, mostly Vincent Tans. TG stepped aside when Tan became fully involved.