TCCANARY 263 Posted February 27, 2015 http://www.bbc.co.uk/sport/0/football/31649303Cardiff City lost nearly £12m during their debut season in the Premier League. The club''s latest accounts, for the year ending May 2014, also show the Bluebirds owe around £174m - most of it to owner Vincent Tan. This was despite revenue increasing more than five fold to almost £80m. The club''s annual report says support from Malaysian investors "will continue" as long as "the business develops as planned". The financial figures showed that the club''s broadcasting and commercial income rose from from £8m to more than £70m. Wages and salaries went up from just over £27m to £46m. I''m sure some of our resident number crunchers will enjoy this report. Share this post Link to post Share on other sites
PurpleCanary 5,531 Posted February 27, 2015 [quote user="TCCANARY"] http://www.bbc.co.uk/sport/0/football/31649303Cardiff City lost nearly £12m during their debut season in the Premier League. The club''s latest accounts, for the year ending May 2014, also show the Bluebirds owe around £174m - most of it to owner Vincent Tan. This was despite revenue increasing more than five fold to almost £80m. The club''s annual report says support from Malaysian investors "will continue" as long as "the business develops as planned". The financial figures showed that the club''s broadcasting and commercial income rose from from £8m to more than £70m. Wages and salaries went up from just over £27m to £46m. I''m sure some of our resident number crunchers will enjoy this report. [/quote]There are two comments that, put together, might scare me just a bit if I were a Cardiff City fan.Firstly there is the point made by an accountant that Cardiff''s debt, almost all owed to Tan, outweighs its assets (not a position we were ever in, as I understand it). Then there is official Cardiff quote about Tan being prepared to continue his support as long as "the business develops as planned".Who knows what Tan''s intentions are, or whether his ambitions and plans are realistic Having got to the Premier League was then being out of it for what now will be at least two seasons part of the plan? Is he relaxed about that or of an unforgiving nature? That a long-running legal dispute with Sam Hamman over a few million is still dragging on might suggest he tends towards the latter. Share this post Link to post Share on other sites
Daz Sparks 1,120 Posted February 27, 2015 Would hate to have someone of Tan''s ilk owning our club. Share this post Link to post Share on other sites
SwindonCanary 455 Posted February 27, 2015 Breaking Fifa''s Financial Fair Play rules outright ! Share this post Link to post Share on other sites