22 Jan 2008Agreement close for Cardiff City

Cardiff City are said to be close to reaching an out-of-court settlement over a £30 million debt the club took on under previous owner Sam Hammam.

Current chairman Peter Ridsdale insists that an agreement was reached, meaning that £9 million would be repaid in naming rights for the club's new stadium, while the rest would not be paid until 2016.

The loan came from Langston, a Swiss-based company, which is now being represented by Mr Hammam.

Fears have been growing that Cardiff City could be plunged into administration or even forced to cease operations as a result of the dispute, which was due to be heard at the High Court in March.

However, it now appears that the two sides are close to reaching an agreement which would protect the club from such a devastating occurrence.

"I am very hopeful we will be able to come to agreement with Langston over this issue sooner rather than later," Mr Ridsdale told the Western Mail.

"That would hopefully be before the next court date currently set for March. It has always been our aim to do that."

Cardiff City are currently enjoying a good run of form, having gone undefeated in their last six matches, leaving them just four points off a play-off spot in the Coco-Cola Championship.

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