Dylan Posted 28 March 2010 Posted 28 March 2010 Just wondering if anyone knows how Cardiff's financial situation is. Do they still have a chance of going into administration? If yes, what's the rules regarding points deduction. Cause isn't there a date of where if you go into administration after, the points deduction will occur the following season?
sdb Posted 28 March 2010 Posted 28 March 2010 I think they've been given a month to find funds? Somethin like that. If so, said date must be close cause that was a couple of weeks ago i think.
The Doctor Posted 28 March 2010 Posted 28 March 2010 they've got another meeting in court with revenue and customs either the week after the final match of the regular season or the week before.
dogadug Posted 28 March 2010 Posted 28 March 2010 they've got another meeting in court with revenue and customs either the week after the final match of the regular season or the week before. Which I believe means that if they did go into administration, they would get the points deduction next season.
The Doctor Posted 28 March 2010 Posted 28 March 2010 Which I believe means that if they did go into administration, they would get the points deduction next season. depends. If they decide to enter administration before the final match of the season then they'll get a points deduction this season (a la leeds 06-07).
atw88 Posted 28 March 2010 Posted 28 March 2010 Points would be deducted next season. The Malaysian consortium behind board member TG has put in an offer of £6m to cover the wages till the end of the season and the tax bill, on the condition that Ridsdale leaves. He's not barging at the moment but it'll go down to the wire. The Malaysians are paying the players wages this month. We won't be entering administration and improving your chances of securing playoffs. Box full of soz.
MC Prussian Posted 6 July 2010 Posted 6 July 2010 A case of shit hitting the fan? Cardiff hit with transfer embargo Cardiff City has had another transfer embargo imposed by the Football League because of continuing concerns over unpaid tax bills. Her Majesty's Revenue and Customs has issued a winding-up order and City return to the High Court on 11 August. That relates to an unpaid PAYE tax debt, understood to be £1.3m. Cardiff City chief executive Gethin Jenkins says the club are confident they will pay the monies owed in the course of this week. Jenkins says he would then expect the petition to be withdrawn. The Cardiff chief, who joined the Bluebirds at the end of last season from Newport Gwent Dragons, said the hurdle formed part of the process of getting the club on a sound business and financial footing. "As is normal procedure, if PAYE isn't paid then HMRC are fully entitled to lodge a petition," said Jenkins. "Cardiff City Football Club fully expect to pay monies owed in the forthcoming week, following which the petition will naturally be withdrawn. "This hurdle all forms part of the ongoing process of getting the club on a sound business and financial footing." Cardiff City are no strangers to the High Court, finally seeing off a previous winding-up order in June following a £6m investment by the Malaysian consortium who have taken over the club. The club admitted then that there had been a transfer embargo, which was then lifted - but is now re-imposed. The club is still believed to have debts of at least £20m and recently players' wages were delayed - although this was put down to money transfer problems. http://news.bbc.co.u...ity/8787586.stm
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