More signings at Cardiff?

Looks like we'll be strengthening again before the weekend. Can't wait.

http://icwales.icnetwork.co.uk/0600...ty-leave-no-7-shirt-for-koumas-name_page.html

We need the points saturday, the remainder of our August fixtures are tough - West Brom, Coventry & Brum at home with Leeds away.

 

we need the points too with our remaining 45 games after that looking a bit tricky

 

Have you seen the state of your finances mate ?</p>

Re-financing near 30m debt until 2011 on the basis that you'll have finished the new stadium which will create a new income stream.</p>

I understand that you will be leaseing your players as Leeds did.</p>

My take on it is that it is a concerted effort to get into the prem and wipe out your debts.</p>

Risky to say the least, it'll be fine until the money runs out.</p>

Good luck (apart fom Saturday of course) I think you may need it.</p>

 

PMSL.

Yep, the likes of Brum, West Brom, Sunderland, Leeds, Palace etc. are a little more daunting than Yeovil, Cheltenham, Port Vale and the like eh?

Think that all three of the clubs promoted last season will find it difficult this year (no offence) - as will QPR. Got a funny feeling Wolves will struggle as well.

We'll see. Looking forward to saturday though (dancin)

 

Hows the financial situation at cardiff? bearing in mind mcphail will be on more than the whole of the rest of the squad? teamwork will overpower 'big name' signings on satdi

 

"Our" debt is in the region of £4-6m apparently. Have heard it quoted as being as low as £1.5-2m but would rather look at worst case scenario.

The remainder of the debt - repayable in 2011 as you correctly say, is by means of unsecured loan notes. The holder of these loan notes is unknown (for whatever reason) and, should it all go tits up, will lose that equity. Nothing to do with CCFC thankfully.

Having said that, I'm utterly confident that the stadium project will go ahead later this year and the repayment of the debt will then not be an issue.

 

McPhail will be nowhere near the highest earner at Cardiff.

His wages will pale into insignificance alongside Darren Purse, Ricky Scimeca, Steve Thompson and Michael Chopra for instance, who all left Premier League clubs (and wages) to join Cardiff.

Looks likely that Jason Koumas will also be in our line up on saturday and he still has two years on his West Brom contract @£15k/week.

 

The debt is with the Club in unsecured loan stock according to 31 May 2005 accounts.</p>

Also the loan written off by the owner (£6m) appears to be an intercompany loan with both CCFC holdings Ltd and Rugwick Ltd. Both these companies have not filed their May 05 accounts and are now overdue.</p>

As for nothing to do with CCFC I feel you may be mistaken with that. </p>

 

I'm sorry Dave - but you seem to know nowt.

You can quote all these silly "accounts" and "stock holdings" or whatever they are ... but in the end all that matters is that they are in the safe hands of Peter Ridsdale.

I'm on Mr Bluebirds side here.
Cardiff seem very financially stable.
Just like Leeds & Barnsley were with Riddy involved.

Hold your head in shame Dave (if that's your real name), hold your head in shame.

 

You must be really worried

and need even more signings before you are ready to take on the Mighty REDS.

Note we are top of the league!

 

If your wage bill is so high..</p>

Mcfrail is  ikely on 8k a week</p>

Chopra similar.</p>

If you have another 5 players on similar or more money then thats about 2.9m per year so a likey total wage bill of 5m, all on 3 year contracts.</p>

Say you average 13,000 per season at 18 quid a throw thats 5.4m</p>

TV money of around 1m</p>

so income maybe around 7m with advertising etc</p>

Debt servicing say 4m at 5% interest £200k per year without paying owt back.</p>

paying for new stadium?</p>

Ridsdales wages say 500k p/a?</p>

Overheads? etc.</p>

You had better get promoted this season or you'l be up **** creek.</p>

PR's done this gamble before, twice, thankfully for us our owner pulled the plug on him.</p>

 

he was on premiership wages at barnsley as leeds were paying him 6 grand a week still and he can only have joined cardiff for the money cos cardiff are not a bigger club than barnsley. if mcphail is not one of your highest earners and there are many players on higher wages then your finances are surely been mismanaged. oh yeah youve got mr ridsdale they havnt you...

 

The £6m written off was supposedly the "consultancy fees" paid to Sam Hammam. Rugewick is a holding company with Sam and his brother Ned as directors (think they're sole directors). Rugewick has no other business interests as far as anyone can make out.

Know what you're saying as regards the liability of the debt but, by all accounts, it is not CCFC. Trouble is with experienced, wiley characters such as Sam, the intricate dealings involved in high finance are always going to be convoluted and involve murky water.

Personally, I'm encouraged that the likes of Deloitte's (independant report to Cardiff City Council re Stadium) have studied the business plans etc proposed by CCFC with regard to the stadium development and have all but ok'd them. The financial aspects don't seem to concern them unduly and we are staying within the budgets they have set, believe it or not.

The only sticking point at the moment is the relocation of the running track at the current athletics stadium (no, we're not having one at ours) - a problem which I'm sure will be overcome. There's alternative stadia for them already in Cardiff (at UWIC) and nearby at Cwmbran and CCFC have said they'll cover the transport costs of all athletes.

 

You sir, are...

... quite correct !! How could I miss the flaw in my arguement... of course P Riddy is at the helm, therefore accounts balance sheets and cash flows matter for nothing.</p>

Thank you for pointing out the error of my ways oh Ponty, I will hang my head in shame don sack cloth and ashes and carry a bell (tha't my usual saturday party wear anyway!!!)</p>

Oh it is Dave btw .</p>

 

would you trust a man called Ned Hamman?

 

"he can only have joined cardiff for the money cos cardiff are not a bigger club than barnsley"

I've just spat my coffee on the keyboard and screen laughing at that one.

 

So explain why Cardiff are bigger than Barnsley please?

 

Why what funny about that, Cardiff ARE a smalled club than Barnsley.

 

Rugewick appears to have a balance sheet that has investments of £3.5m. These are shares in subsidiaries. If they go bust then Rugewick has no assets. It all seems to me a little like a house of cards dependent upon the new stadium but that is only my reading of it. The loan notes ARE payable by the club as shown on 31 may 05 balance sheet

 

No point getting into it on here, it'll only lead to petty arguements and name-calling.

Ask people not affiliated with either club their opinion (and not from Yorkshire or South Wales). You'll get the answer that way.