Source: Team_Talk
Bluebirds 'sorry' for not spending
The Bluebirds, who moved into their new stadium this season, are due in the High Court next month due to an unpaid tax bill and after struggling to attract new investment have moved to explain to fans why there is no money available for new players.[LNB]The club's board, who have given chairman Peter Ridsdale their "full backing", released a statement which read: "The move to the new stadium ultimately incurred costs that we had not anticipated and while the long term health of the club is stronger than it has ever been we have suffered some short term cash flow problems.[LNB]"In an attempt to negate these issues we sought new investment and during the autumn of 2009 commitments were given regarding investment which if they had been delivered would have solved our cash issues. To date these commitments have not been fulfilled, so we have had to resort to other avenues of fund raising.[LNB]"With regard to the season-ticket offer pre-Christmas, this offer to reimburse the ticket price if promoted this season remains a strong one. Nevertheless we had anticipated that if we launched these tickets early and had received new investment pre-Christmas or in January this year as promised, we would have been able to invest in new players in the January transfer window. In the absence of the new investment this will not be possible."[LNB]"We have to ensure that other overheads and financial issues are properly addressed. Whilst we apologise for this, we do not apologise for ensuring that the viability and financial health of the Club is the ultimate priority."[LNB]The statement added: "There has been some suggestion that the position of the chairman, Peter Ridsdale, is being questioned by some supporters. For the avoidance of doubt, Peter has the full backing of both the board and majority of shareholders and will continue to lead the club to finish the job we started."[LNB][LNB]
