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Last Updated: Tuesday, 4 March 2008, 16:54 GMT
Court case most likely - Ridsdale
Peter Ridsdale
Ridsdale wants to settle the dispute out of court
Cardiff City chairman Peter Ridsdale admits next weeks's court case may be the only way of solving a wrangle with Langston over a 24m loan.

The club's biggest creditor wants the debt repaid now, but City officials say it is not due until 2016.

Ridsdale says he wants to sort it out of court, but concedes that is unlikely to happen.

"If that's what we have to do if nothing's resolved before then, we're in good shape to go," he said.

Ridsdale has previously warned that Cardiff will be forced into administration if they lose the court case.

But he said whatever the outcome, the city would still have a football club and a new ground to play in.

"If they (Langston) were to succeed, we wouldn't be able to repay the debt," he said.

606: DEBATE

"We would then have to determine as directors our what are legal responsibilities were to be and then someone would have to pick up the pieces.

"And I can't do anything about that. The fact is I would like to resolve it without a court case.

"Whatever the outcome of the court case there will be a Cardiff City playing in a brand new stadium in August 2009."

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.

Hammam left the club in October 2006 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 said all contact with Langston had been made through Hammam and insisted the loan is not due to be paid back until 2016.



SEE ALSO
Court case not helping us - Jones
25 Feb 08 |  Cardiff City
Cardiff awaiting March court date
12 Dec 07 |  Cardiff City
Pressure grows on Cardiff finance
07 Dec 07 |  Cardiff City
Ridsdale fears for Cardiff future
06 Dec 07 |  Cardiff City
Langston calm administration fear
15 Nov 07 |  Cardiff City
Cardiff warning over legal battle
24 Oct 07 |  Cardiff City
Hammam 'casting shadow' over club
25 Sep 07 |  Cardiff City
Cardiff chief rejects debt claim
15 Aug 07 |  Cardiff City
Cardiff facing court over '30m'
14 Aug 07 |  Cardiff City
BBC Sport Wales coverage
24 Dec 06 |  Wales


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