Holy Joe
Manager⭐⭐
- Joined
- Aug 8, 2005
- Messages
- 8,039
Ridsdale certainly knows how to run to a club!
ADMINISTRATION COULD FOLLOW COURT CASE - RIDSDALE
Cardiff chairman Peter Ridsdale admits the club are facing the threat of
administration if they lose their court case with their major creditors.
Langston, the Bluebirds' main financial backers, claim they are owed 24million and want the money paid back immediately.
However, Cardiff insist the money is not due to be repaid until 2016 and the
case is scheduled to be heard in the High Court on March 10.
Ridsdale admits the Coca-Cola Championship outfit will be forced to consider
the option of entering administration to pay off their mounting debts if they
lose the case. The former Leeds chairman told Sky Sports News: ``I'm hoping that, even at this late hour, we end up not going to court.
``I hope that we can resolve things around a table because it must be in
everybody's interests - both those people to whom we owe money and, of course, ourselves - that this is resolved without damaging the club any further.
``In terms of administration, that's something the directors would have to
decide if we lost the court case, based on what the creditors' reaction was to
the debt that we owed under those circumstances.''
However, Ridsdale said that even in the event of administration, Cardiff's
plans to move into a new 30,000-seater stadium, which is currently being built in Leckwith, by 2009 would not be damaged.
Ridsdale added: ``In terms of the stadium project, that is ring-fenced and as
far as I'm concerned this stadium will be built and will be finished. Possibly,
we'll be playing football in it in August 2009.''
ADMINISTRATION COULD FOLLOW COURT CASE - RIDSDALE
Cardiff chairman Peter Ridsdale admits the club are facing the threat of
administration if they lose their court case with their major creditors.
Langston, the Bluebirds' main financial backers, claim they are owed 24million and want the money paid back immediately.
However, Cardiff insist the money is not due to be repaid until 2016 and the
case is scheduled to be heard in the High Court on March 10.
Ridsdale admits the Coca-Cola Championship outfit will be forced to consider
the option of entering administration to pay off their mounting debts if they
lose the case. The former Leeds chairman told Sky Sports News: ``I'm hoping that, even at this late hour, we end up not going to court.
``I hope that we can resolve things around a table because it must be in
everybody's interests - both those people to whom we owe money and, of course, ourselves - that this is resolved without damaging the club any further.
``In terms of administration, that's something the directors would have to
decide if we lost the court case, based on what the creditors' reaction was to
the debt that we owed under those circumstances.''
However, Ridsdale said that even in the event of administration, Cardiff's
plans to move into a new 30,000-seater stadium, which is currently being built in Leckwith, by 2009 would not be damaged.
Ridsdale added: ``In terms of the stadium project, that is ring-fenced and as
far as I'm concerned this stadium will be built and will be finished. Possibly,
we'll be playing football in it in August 2009.''
