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Cardiff FFP transfer embargo lifted by the Football League

Cardiff chairman Vincent Tan is also among the new franchise's co-owners
Image: Cardiff chairman Vincent Tan will be able to sign new players this summer after the club's transfer embargo was lifted by the Football League

Cardiff have had their Financial Fair Play transfer embargo lifted by the Football League, the club announced on Saturday.

The Championship club was originally made subject to the FFP embargo during the January transfer window earlier this year.

It was the second time in six years that the Bluebirds had been punished for failing to adhere to the Football League's rules surrounding financial losses.

However, the embargo has now been lifted, allowing the club to sign new players in the upcoming summer transfer window.

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The club announced the end of the embargo in a statement released on Saturday.

"The Football League has confirmed that as of 2.30pm on Saturday, 7th May 2016, Cardiff City Football Club will no longer be under a Financial Fair Play embargo," read the statement.

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"The Club will therefore be able to operate without FFP restrictions during the forthcoming summer transfer window."