Board Statement

[steve.western.52First Team Regular]

First topic message reminder :

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.

All aspects and matters relating to the present and the future of the Club were fully discussed.  In order for the Club to grow and sustain its ability to be a competitive force in the Premier League, the Board has made a number of decisions which will strengthen the Club, support the Executive team, Manager and his staff and enhance shareholder return. Needless to say, the Board discussed the events of the last two weeks in detail.

The following resolutions were made:-

1.      The Board will be restructured with immediate effect to include the following committees:

a.      The Nomination and Corporate Governance Committee chaired by Mehmet Dalman.  Its main responsibilities will be:

·  to support the Manager, Malky Mackay, on all player purchases and sales. All transfer dealings will be conducted subject to the Manager's final approval.

·  to establish clear Corporate Governance procedures across the Club.

b.     An Audit Committee, chaired by Michael Filiou. Its main responsibility will be:

·  to review and make recommendations to strengthen the internal financial controls within the Club and benchmark the Club’s financials.

c.      Health & Safety Committee, chaired by Steve Borley. Its main responsibility will be:

·  to enhance the Club’s operations to the highest standards in health & safety.

d.     Special Committee for the expansion of Cardiff City Stadium – chaired by Steve Borley to oversee current East Stand expansion plans.

2.      Tan Sri Vincent Tan has agreed to write off interest of approximately £5.8 million on previous loans made to the Club and stated that all future loans up to an aggregate value of £50 million will also be interest free.

3.      The Board ratified the appointments of Mehmet Dalman as director and Chairman of the Board, Michael Filiou as non-executive director, and Amir Fitzhugh as Company Secretary.  The Board ratified the resignation of Mr Len Win Kong as a director of the Club.

The Board believes that these changes establish a solid foundation for the Club to grow. The changes were unanimously agreed by the entire Board and the Manager, Malky Mackay. Tan Sri Vincent Tan and the shareholding members of the Board are fully in agreement with the above decisions. The shareholders, Board and Manager are fully committed to the long-term success of Cardiff City Football Club.

Once again the Board thanks Tan Sri Vincent Tan for writing off the interest on his loans to Cardiff City FC, further demonstrating his generosity and support of this Club.

Read more at http://www.cardiffcityfc.co.uk/news/article/board-statement-15th-october-1115690.aspx#vMCZc6bEtQidTF35.99

[steve.western.52First Team Regular]

Oh dear....

[davewebber65National Legend]

I don't think it's necessarily a bad thing, afterall there can never be debate if we all agreed all the time. It's nice that we have people that are pro Tan, anti Tan, pro Malky and anti Malky. It might get a bit heated at times but I'd like to think we're all civil enough to know where the line is.

where is my knife??????? gotta do a hatchet job on somebody :bounce: 

[puggerFirst Team Regular]

Can I be pro Tan and pro Malky, because I only have to think back a short while when I was anti Hammam and I was in the minority then on a certain message board.
I sometimes thought I was the only one who could see the damage being done, no way would we be family club of the year!
Once all the dust settles we should be in a strong financial position and we really don’t know the full facts of what has gone on and the positives still out weight the negatives for me anyway.
I like the fact that Malky will be involved in board meetings and hope he can steady things with what seems to be his calm and focused attitude. I know he is not everyone’s cup of tea, but for me (only my opinion) he will keep us up if Tan keeps his finger off the self-destruct button.
For this moment in time we have the right man in the right place, and I am not on about a painter.

This is Cardiff City we are on about and the roller-coaster continues………..

[lottydottyblueVice Captain]

I love a good debate and judging from the manner of responses from Red so does he.  Long may that continue and I can assure everyone on this board that will be done without ill feeling or malice on my part.
Now to the debate.
I try my best to deal with facts and I firmly believe that the first comment made by Red showed a complete misunderstanding of the point about the £5.8mil write off and future loans. Hence my comments.
He later made statements about VT as the owner of CCFC without backing them up with facts and as far as I am concerned still hasn’t.
[i]He told us that we wouldn't change to red, then did it anyway.[/i] Did he, When? He told us he wouldn't get involved in footballing matters, and he has. When and How? He told us he wouldn't get in the way of Malky doing his job - he has.  When and How? Want more?  The answer to that is I want facts not statements which you don’t back up with facts. We’ve all heard the rumours, but where are the facts.
Bear in mind that whatever you say VT will always say, ”Never say never”.[/i]   

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