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City dismiss finance fears
15 Aug 2007 - 10:05:07
Cardiff City chairman Peter Ridsdale has denied reports suggesting that the club could be facing massive financial problems.
Legal action by City's backers, Langston Corporation, could see the Bluebirds facing debts of up to £30million to repay, but Ridsdale says he is unaware of the true nature of the problem.
A statement on the club's official website read: "We are astonished at the press release sent out appearing to come from someone representing the Langston Corporation.
"The new board of Cardiff City Football Club and Cardiff City Council have for some time been trying to identify who Langston is and have continually come up against a brick wall. Far from refusing to talk to them, we don't know who they are.
"Mr Hammam, our previous chairman, had been acting as the intermediary with Langston and we have been in constant dialogue with him.
"Indeed he has always refused to divulge the identity of Langston and therefore we could have never had any direct dialogue with them.
"I want to reassure everyone connected with Cardiff City Football Club that the success that the current board have enjoyed in overcoming the acute financial hurdles they inherited and getting the stadium scheme funded, will continue.
"Finally the statements in the unattributed press release seem to be an ill-informed mixture of fiction and general confusion and any allegations and innuendos are refuted."