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Last Updated: Wednesday, 24 October 2007, 13:54 GMT 14:54 UK
Cardiff warning over legal battle
Peter Ridsdale
Ridsdale insists no voluntary action will be taken
Cardiff City will be forced into administration if they lose a legal battle over a 24m loan from financial backers Langston.

The Bluebirds are due in court next month for a hearing, but any case could last up to two years.

Chairman Peter Ridsdale said: "The only way Cardiff City would go into administration is if that was forced because we lost the court case.

"We adamantly believe that this will not happen."

When Ridsdale arrived at Ninian Park in 2005 after being head-hunted by then owner Sam Hammam, Cardiff were losing 9m a year and had debts of 30m with the new stadium project looking in tatters.

Administration has no place in our plans

Peter Ridsdale

Hammam left the club last October so that new investors could come in and sold his stake two months later, leaving former Leeds chairman Ridsdale to take control.

But in August, Cardiff were threatened with court action over a 24m loan from Cardiff backers Langston, taken out by Hammam.

Langston's solicitors, Hextalls, claim the club's board was mismanaging its finances and misleading supporters, and said the money had to be paid immediately.

But Ridsdale has insisted the loan is not due to be paid back until 2016 and he has ruled out taking the club into administration voluntarily at any time, as former club Leeds did at the end of last season.

Instead, he insisted: "We are continuing to work towards paying off the loan notes within the agreed dates and believe we will do that.

606: DEBATE

"We are also preparing for the court hearing and our legal advice says we have a good case.

"We have not even considered voluntary administration and we will not be going down that route in any way.

"Administration has no place in our plans. None at all."

SEE ALSO
Hammam 'casting shadow' over club
25 Sep 07 |  Cardiff City
Ridsdale offers to quit Cardiff
21 Sep 07 |  Cardiff City
Cardiff chief rejects debt claim
15 Aug 07 |  Cardiff City
Cardiff facing court over '30m'
15 Aug 07 |  Cardiff City
BBC Sport Wales coverage
24 Dec 06 |  Wales


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