Source: Team_Talk
Verbal agreement on City debt
Chairman Peter Ridsdale is hopeful Cardiff can finalise a written contract and free themselves from the corporation within the next month having held talks with former owner Sam Hammam, who also fronts the group, about loan notes he took out while at City.[LNB]The club have already faced High Court action over the debt - which initially stood at £24million but is now believed to be around £15m.[LNB]"I would be disappointed if it is not resolved by the end of November," said Ridsdale.[LNB]The Cardiff chief has been seeking investment from all corners of the globe and it looks to have been successful, although it is not known whether Malaysian businessman Dato Chan Tien Ghee is behind the funds which will restructure the debt.[LNB][LNB]
