After a much needed win for Cardiff away at play-off rivals Coventry City last Tuesday night, it has emerged that the Cardiff City Supporters Club and Trust fear that the club will go into administration by the end of the month unless the club can find an investor.
But the Bluebirds keep fighting on……
The club owe the HMRC £1.9m, a fee that must be paid by May 5th. The club’s is looking for investment and are currently in talks with a malaysian party who have stated that they will invest within the club. The malaysian party did inject £250,000 into the club last November and there is a strong possibilty that they will invest again sometime soon.
The club are also hoping to sell some plots of land around the Cardiff City Stadium, which could raise up to £2.25m which would pay off the tax bill.
Fans are still angry of how things have come about, it was only in December last year that the Cardiff City chairman Peter Risdale issued a ‘Golden Ticket’ scheme, which allowed fans to buy next seasons season ticket on the knowledge that the money raised from that would be put towards the transfer fund for the January transfer window. Instead the money was put towards paying off debts that the club owed, something the fans reacted to by organising protests calling for Risdale to walk away from the club.
On the pitch it has been a relatively successful season for the bluebirds, despite the poor run of form lately, Cardiff currently hold the last play-off position in the Championship. If the tax debt is unpaid then Cardiff would be placed into administration meaning a 10 point deduction. This would be a massive blow and all but end Cardiff’s play-off hopes for this season.
These next few weeks could be ‘make or break’ for Cardiff, if the team can continue to hold their play-off spot and sort the finiacial situation out then it could turn into a potentially successful season, perhaps a promotion party at the end of it??
But if the finiacial situation is failed to be sorted out by the deadline then all the hard work on the pitch could be all for nothing. What will worry City fans is that Portsmouth were deducted points just recently and Chester City were expelled from the Conference, it just shows that there isn’t always a fairytale ending and that Cardiff could be the next club to suffer at the hands of the HMRC.