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Page last updated at 12:19 GMT, Wednesday, 10 February 2010

Cardiff winding-up order is adjourned by the High Court


Business as usual for Cardiff boss Dave Jones despite club's winding-up order

Cardiff City have had their winding-up order adjourned for 28 days by the High Court in London.

The Championship club were facing their second winding-up order over an unpaid debt to Her Majesty's Revenue and Customs (HMRC).

Cardiff had been in discussions over a reported £2.7m tax bill and HMRC agreed to an adjournment following a £1m payment towards the outstanding debt.

So the High Court have given the club more time to resolve the issue.

"Cardiff City had a winding-up order by Her Majesty's Revenue and Customs adjourned for a period of 28 days following payment by the club of £1m towards its outstanding debt," read a statement on the club's official website.

Kennedy philosophical on Cardiff plight

"HMRC had no objection to such an adjournment during a hearing at the High Court in London."

Cardiff City chairman and chief executive Peter Ridsdale was in court to hear the decision.

The Championship play-off hopefuls, who reached a settlement over their long-standing £15m debt with former owner Sam Hammam's Langston Corporation in December, could face administration and a 10-point deduction should a winding-up order be made.

Earlier this month Cardiff raised a reported £1.5m by selling two plots of undeveloped land around its new stadium after the local council gave permission.

Cardiff face holders and Premier League leaders Chelsea at Stamford Bridge in the fifth round of the FA Cup on Saturday in a cup run that has earned the Welsh club an approximate £1m financial boost.

About 200 Cardiff fans protested against Ridsdale's handing of club affairs outside the Cardiff City Stadium following their 2-1 victory over Doncaster Rovers last month.

Ridsdale was forced to apologise to fans after funds - an estimated £3m - raised from advance season tickets sales, which he initially promised would be spent on buying new players in the January transfer window, will now be used to settle debts.

Cardiff are effectively up for sale and former Leeds United chairman Ridsdale had promised "new investment" into the club "soon".

Malaysian businessman Datuk Chan Tien Ghee's arrival onto the club's board on the day they saw off their first winding up order at the High Court on gave hope of fresh investment.

Cardiff have been in discussions with Malaysian and American investors over a possible £40m takeover while Guernsey-based property developer Ben Steele had also been in talks with Ridsdale.

The club moved from their old Ninian Park home to their new £50m 26,500-capacity Cardiff City Stadium last summer which the club hoped would double the club's turnover to approximately £16m to £18m.

League One Southend were also in the High Court in Wednesday, with HMRC adopting a tougher stance on football clubs, and they too were granted a 28-day adjournment.

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see also
Pompey given extra time by court
10 Feb 10 |  Portsmouth
McPhail set for month on sideline
14 Feb 10 |  Cardiff
Cardiff 2-0 Peterborough
09 Feb 10 |  Championship
Cardiff City to sell some ground
02 Feb 10 |  Wales
Cardiff fans hold finance protest
30 Jan 10 |  Wales
Supporters will get EGM - Borley
29 Jan 10 |  Cardiff
Jones stands by troubled Cardiff
29 Jan 10 |  Cardiff
Supporters reject Cardiff apology
29 Jan 10 |  Cardiff
Cardiff fans want crisis meeting
28 Jan 10 |  Cardiff
Cardiff 'lost out' on new players
27 Jan 10 |  Cardiff
Cardiff to face winding up order
08 Jan 10 |  Cardiff
BBC Sport Wales coverage
03 Oct 11 |  Wales

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