Source: PA
Bluebirds make payment to Well
Cardiff chief executive Gethin Jenkins has confirmed that the arrival of Craig Bellamy has helped the club to pay half of its debt to Motherwell.
The Scottish side confirmed this week that they were considering issuing a winding-up order against the Bluebirds to recoup £175,000 owed for the transfer of right-back Paul Quinn.
But Jenkins told the club`s official website: "We can confirm that as a result of the increased cash flow with the interest since Craig Bellamy's arrival we have now paid half of the money owed to Motherwell, a club who themselves were in administration, and we have given our word that the remainder will be paid within the seven-day commitment we have made.
"In addition, our current HMRC tax has been paid on time.
"Without going into the specifics, we believe the business and sporting case for signing Craig Bellamy more than stacks up, especially with increased ticket, hospitality and retail sales which is already helping the cash flow of the business. We are confident that any other club in the Championship presented with a similar opportunity would have done the same.
"It should also be remembered that we released 10 players off the payroll at the beginning of the season and have not paid a single transfer fee this summer, whilst with the change in management team there has been significant off-pitch payroll savings."
