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Cardiff City Report £30M Loss, Accounts Show

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http://www.bbc.co.uk/news/uk-wales-25696891

Cardiff City lost £30 million in the season they were promoted to the Premier League, latest accounts reveal.

The club's overall debt has risen to a £118m, with just over half, £66m, owed to owner Vincent Tan.

But Cardiff chairman Mehmet Dalman said the club was on course to becoming debt free.

"We inherited a lot of debt and are in the process of paying off a lot of that debt," he told BBC Radio Wales Sport.

Mr Dalman said Malaysian billionaire owner Mr Tan had put up to £150m into the club since 2010.

Debt was being converted into shares and once the club was debt free, Mr Dalman said Cardiff City would continue to build and would be in a position to sign better players.

So to live the dream it appears Cardiff have over extended themselves and rely on debt to function. Bolton where in the news recently with their debts which are even bigger. It seems at some point we are going to see a crisis in football with how these clubs are being run.

Interesting spin that you have a lot of debt and you can pay it off by increasing the figure. They should get this guy in as Chancellor.

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Small numbers when talking about football (see man u ),especialy when the owner is a billionaire , IIRC the television rights are worth somewhere in the region of £60 million a year for a premiership club

All they need to do is stay in it which looks like a bit of an uphill struggle at this point in time

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I think the idea to rename them the 'Cardiff Dragons' is a great idea and could transform their commercial fortunes.

Ditto 'Hull Tigers'.

These teams have no history anyway. And I think they're really good names. Honestly.

They have loads of history; just because a team hasn't been on Sky Super Sunday for the last ten years doesn't mean they don't have history. Cardiff won the FA Cup.

Tan is like somebody out of a Viz cartoon, partly the way he dresses but mainly his actions:

Let's call them dragons!

Let's make them wear red!

Let's only sign players with a birthdate containing the letter 8!

I find him tremendously entertaining, but am thankful that I don't support Cardiff.

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They have loads of history; just because a team hasn't been on Sky Super Sunday for the last ten years doesn't mean they don't have history. Cardiff won the FA Cup.

Tan is like somebody out of a Viz cartoon, partly the way he dresses but mainly his actions:

Let's call them dragons!

Let's make them wear red!

Let's only sign players with a birthdate containing the letter 8!

I find him tremendously entertaining, but am thankful that I don't support Cardiff.

You forgot about sacking the coach/scout and replacing him with his sons mate who was on work experience at the club as a painter, but yes a viz cartoon character sums him up nicely

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http://www.bbc.co.uk...-wales-25696891

So to live the dream it appears Cardiff have over extended themselves and rely on debt to function. Bolton where in the news recently with their debts which are even bigger. It seems at some point we are going to see a crisis in football with how these clubs are being run.

Interesting spin that you have a lot of debt and you can pay it off by increasing the figure. They should get this guy in as Chancellor.

It doesn't say that. It's interesting that whenever you see the word 'debt' that's what you imagine though.

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Small numbers when talking about football (see man u ),especialy when the owner is a billionaire , IIRC the television rights are worth somewhere in the region of £60 million a year for a premiership club

All they need to do is stay in it which looks like a bit of an uphill struggle at this point in time

United debt is now down to around £276m (last accounts) and the club is generating > £80m p.a. free cash.

So it'll either be debt free within around 3 years or could spend around £200m on new players or some combination of the two.

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United debt is now down to around £276m (last accounts) and the club is generating > £80m p.a. free cash.

So it'll either be debt free within around 3 years or could spend around £200m on new players or some combination of the two.

Thats come down quick ,wasn`t it close to 800 not that long ago

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Thats come down quick ,wasn`t it close to 800 not that long ago

At its peak yep.

It's fallen very quickly last few years due to commercial revenues rising rapidly and (partly) due to sale of Ronaldo and part-equity flotation.

Clearly the objective was to under-spend on net players during this phase, which is why it's fairly obvious that they have significant funds for player acquisitions over the coming few years. When you consider that player contracts are amortised over 4-5 years usually you can see the headline spending numbers could be very large indeed. Ronaldo was much closer in the summer than most people realise.

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