Cardiff deny winding-up threat

Bluebirds insist they are financially secure

Last updated: 25th November 2009   Subscribe to RSS Feed

Cardiff deny winding-up threat
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Cardiff City insist reports claiming they could be issued with a winding-up order are 'inaccurate'.

The Bluebirds faced a court hearing on Wednesday, where Her Majesty's Revenues and Customs gave the club an additional 70 days to settle their debts.

This led to speculation that the club are currently experiencing financial difficulties which they may struggle to overcome.

Cardiff, though, are adamant that is not the case and have sought to clear up any confusion regarding their current situation.

"It has been inaccurately reported that Cardiff City Football Club face a winding-up order from Her Majesty's Revenues and Customs, following a court hearing today," read a statement released on the club's official website.

"Today's court order had the effect of withdrawing the threat of a winding-up order rather than imposing it.

Payment schedule

"For the avoidance of doubt, Cardiff City Football Club have a payment schedule in place with HMRC and there is no prospect of the club being wound up.

"This payment schedule was agreed with HMRC some time ahead of today's court hearing.

"Cardiff City Football Club have every confidence in their future financial stability and fully expect to be in a position to make further investment in its playing squad in the January transfer window."

Meanwhile, Cardiff have also announced that Dato Chan has joined the club's board, with the Malaysian businessman prepared to pump additional funding into the side.

"Dato Chan's appointment reflects the continuing confidence that we have in the opportunity that exists for Cardiff City within Asia and will see us extend our youth development," said the club.

On his appointment, Chan added: "I am very proud to be joining the board of Cardiff City. I believe together with the existing board, I can provide Cardiff City with the additional resources to reach its aim of the Premier League."