Cardiff have confirmed the winding-up petition against the club has now been officially withdrawn.
Club confirm transfer embargo can now be lifted
Cardiff have confirmed the winding-up petition against the club has now been officially withdrawn.
Last week the Bluebirds settled the outstanding £1.9million bill owed to HM Revenue and Customs (HMRC) and following a High Court hearing, the petition was dropped on Wednesday.
HMRC's lawyers requested to drop the case and Cardiff will pay the legal costs. The news means the transfer embargo on the Championship outfit can now be lifted.
New chief executive Gethin Jenkins told Cardiff's
official website: "This is obviously good news for the club as we start to build a strong foundation upon which the business and the team can properly function.
"We can now look forward to the season and to develop our ongoing recruitment plans."
Cardiff reached the play-off final last season but failed to make the final leap to the Premier League as Blackpool came out on top 3-2 at Wembley.
Financial problems emerged at the club at the back end of last year, with debts reportedly nearing the £30million mark.
A Malaysian-based consortium has seemingly saved Cardiff after putting £6million into the club.
Billionaire businessman Tan Sri Vincent Tan Chee Yioun is backing the consortium, while Dato Chan Tien Ghee recently replaced Peter Ridsdale as chairman.
