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Page last updated at 19:46 GMT, Friday, 19 March 2010

Cardiff City are promised new investment 'by April'

Datuk Chan Tien Ghe and Peter Ridsdale
Cardiff's Peter Ridsdale and Malaysian businessman Datuk Chan Tien Ghee

Cardiff City claim that a takeover deal will be reached with a Malaysian consortium to save the debt-ridden Championship club by the end of April.

The Cardiff board and boss Dave Jones met consortium representative Datuk Chan Tien Ghee on Thursday.

And Ghee told the Cardiff website: "I am extremely hopeful that we will be able to conclude matters quickly."

The High Court told Cardiff they must pay their £1.9m tax bill by 5 May to avoid a winding-up order.

The Bluebirds were given a 56-day stay of execution on 10 March when they faced a third winding-up order at the High Court as the Her Majesty's Revenue & Customs sought payment of an outstanding debt.

The adjournment was granted after Cardiff claimed that a £6m investment from an "Asian businessman" was imminent.

No deal has yet been reached with the Malaysian consortium, but Jones insists the signs are positive for an agreement.

"They are keen," said manger Jones. "We're talking about pre-season in Malaysia so I'd be surprised if things don't go right."

Businessman Ghee - who was given a place on the club's board in November after an initial investment - has been in Cardiff to negotiate a possible deal this week.

Jones challenges Cardiff players

Cardiff released a statement on Friday claiming that "discussions over the last few days have continued in a positive and productive manner with a view to a further investment in the football club."

The statement read: "Both parties are working towards this further investment being concluded by the end of April this year.

"Investment will be subject to the satisfaction by the club of a number of conditions which are designed not only to stabilise the finances of the football club but also ensure that the club is structured appropriately to build on the progress that has already been made."

So Cardiff's future will hang in the balance until the 11th hour as the end of April is just a week before Cardiff return to the High Court.

But Ghee insisted: "I look forward to playing my part in the future success of Cardiff City."

The Welsh cub has been told in no uncertain terms by the High Court that it must pay the tax settlement in "full."

But Ghee and Jones' positive comments came a day after two of the club's supporters groups said they feared the club would go into administration "within days".

The City Supporters Group and the Supporters Trust claim the club, currently lying sixth in the Championship, will not be able to pay March's wage bill.

Everyone is praying it all goes well and we can get things sorted

Cardiff City manager Dave Jones

If Cardiff were to go into administration, they would be docked 10 points by the Football League, severely damaging their play-off hopes.

Jones, though, has shrugged off fears of imminent administration as the experienced manager insists it is business as usual until the end of the season.

"We're waiting for the investment," said Jones, whose side face Watford at Cardiff City Stadium on Sunday.

"Everyone is praying it all goes well and we can get things sorted."

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see also
Cardiff fans' administration fear
18 Mar 10 |  Cardiff
Cardiff given tax bill deadline
10 Mar 10 |  Cardiff
BBC Sport Wales coverage
03 Oct 11 |  Wales

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