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Last Updated: Monday, 18 December 2006, 11:17 GMT
Cardiff calm takeover hitch fear
Cardiff have denied that ex-chairman Sam Hammam will return
Cardiff have denied that ex-chairman Sam Hammam will return
Cardiff City have moved swiftly to quash rumours that the buyout of the club has run into problems.

The reports were sparked because the 27m buyout of former chairman Sam Hammam's majority shareholding had not been completed by Friday, 15 December.

But that was only the end date of the due diligence period for the consortium aiming to buy Cardiff City Holdings.

A Cardiff statement read: "Contrary to rumours... the raising of extra funds remains on course."

The statement confirmed that there was no chance that Hammam would return to the club and that the restructuring should be completed early in the new year.

Cardiff have called an EGM on 12 January where the club's shareholders will be asked to ratify the deal.

Suggestions Mr Hammam would be returning to the club can be put to bed for good

Cardiff City statement

That should then also allow Cardiff City Council to give the green light to the Bluebirds' plans for a new 30,000-seater stadium at Leckwith.

"Everyone at the football club is committed to this deal being completed by the end of the second full week in January 2007," the statement continued.

"Suggestions Mr Hammam would be returning to the club can be put to bed for good.

"The stadium project go-ahead from the council is subject to this restructuring being completed."

The takeover of the club will prove vital to the hopes on the pitch of manager Dave Jones, as he seeks to sign players in the January transfer window.

Jones is expected to be handed at least 3m to strengthen his threadbare squad, although there are indications that the cash injection into the club could see him handed a war-chest twice that sum.

SEE ALSO
New boost for Bluebirds' stadium
27 Nov 06 |  South east
Hammam devastated by Cardiff exit
29 Oct 06 |  Cardiff City
Ridsdale in for Hammam at Cardiff
22 Oct 06 |  Cardiff City


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