Board Statement

In a scheduled Board meeting, the Board of Directors of Cardiff City Football Club met yesterday, 14^th October 2013.  The Manager, Malky Mackay, was present by invitation as will be the case for all future board meetings.

cocked that up didnt I !!

Read it once got half way through it again and realized I already it

Nice, so he was good enough to write off any interest under 50 million, but not write off the actual loans?

We're not out of debt, we just owe Tan now instead. Brilliant.

That was my initial thoughts too red then I remembered that tan said that he wants to buy up most of the shares before writing off the debt.

Tan may still come good yet!

Rhys wrote:That was my initial thoughts too red then I remembered that tan said that he wants to buy up most of the shares before writing off the debt.

Tan may still come good yet!

Glad somebody on this board keeps abreast of the situation. Let's face it if anyone, in the present financial climate, had loaned a business in this country £X,millions and then written off the interest with an offer of the company being debt free when a majority stake was acquired, the directors would think they were on 'cloud heaven'.  I think it's time some of us took a reality check. 

lottydottyblue wrote:

Rhys wrote:That was my initial thoughts too red then I remembered that tan said that he wants to buy up most of the shares before writing off the debt.

Tan may still come good yet!

Glad somebody on this board keeps abreast of the situation. Let's face it if anyone, in the present financial climate, had loaned a business in this country £X,millions and then written off the interest with an offer of the company being debt free when a majority stake was acquired, the directors would think they were on 'cloud heaven'.  I think it's time some of us took a reality check. 

Sorry, I'm not being deliberately pragmatic, but I don't have a clue what you were trying to say...

I think he means don't bite off the hand that feeds us

you used to run a crap roadshow that was £30 million in debt when i came along. it was close to being wound-up.

1. i have lent you £50,000,000
2. now stay out of debt until i acquire a majority stake in your business and
3. i will not charge you any interest.

how is that for an offer???????

orgasmic????????

or have i got to f..k off because i have asked you to wear red overall at work

like ldb said "some need a reality check"

Agree Dave, but I didn't think colour is the issue here

davewebber65 wrote:you used to run a crap roadshow that was £30 million in debt when i came along. it was close to being wound-up.

1. i have lent you £50,000,000
2. now stay out of debt until i acquire a majority stake in your business and
3. i will not charge you any interest.

how is that for an offer???????

orgasmic????????

or have i got to f..k off because i have asked you to wear red overall at work

like ldb said "some need a reality check"

I must if missed the maths lesson where they said 98% isn't a majority...

Tans supposed to be a businessman right? Then surely he understands how difficult it is to obtain a 100% stake in a business that's been trading for so long, especially now he's also floated it on the public stock market.

What he's doing is holding us to ransom if anything goes sour. I don't blame him , it's a sensible move, but nonetheless a spit in the face of everyone he's promised that the club will be debt free.

I know that this by no means is a realistic comparison but bear with me on this......I used to work for a guy who now owns the Cardiff Devils. It was a rare occasion that we ever got on and he will readily admit that he was a prick at times - I was no saint either - however, I ran one of his companies and trained up the staff and made it profitable. On a number of occasions he felt it necessary to remind me of my place (around the times I thought it a good idea to step well and truly out of the "yes" man mould) and in doing so would transfer staff to another branch leaving me short staffed and over-worked. Now, at the time I hated it, called him a c**t and threatened to leave but due to my £60k salary I always backed down and just got on with it. I can't say that Tan is doing the same but unfortunately he is the boss and its his money and are we really going to say that the loss of one man and new overalls is a reason to jetison a £100 million investment? Its not perfect but if MM is staying then he should carry a jar of vaseline around with him as it will sting less when he takes it up the arse. We have no say in all of this. A good man has gone but if Tan wants to stay up then he will have to find another man to replace him or work out a plan that will help MM (or whoever the new manager will be) - ultimately though it will be his decision and the rest of us will have to like it.

Agreed. It's a business first and a football club second and one bleeds into the other - whether we like it or not.

Nice analogy Steve, works well.

Don't get me wrong, as I've already said it makes sense from a pure profit for tan perspective. It's just having our fate in the hands of a man that's word is worthless. If we had an owner who was honest, that wanted to make a profit first but was happy to keep what was happening transparent, then fair enough. But we have an owner who goes against his promises regularly, who refuses to inform fans of anything that's going on, and that threatens to leave everytime a complaint is raised. I don't trust him, thats my fundamental issue.