11 Jan 2010Cardiff City linked with US investors

Football Clubs News | Football Finance News

An unidentified group of American investors are lining up a takeover at Cardiff City, according to reports.

The Championship outfit are currently facing a second winding-up order from HM Revenue and Customs over an unpaid tax bill of £2.7 million.

However, sources close to the club have indicated that fresh investment from the US group could solve Cardiff City's financial problems.

A club insider told Wales on Sunday: "The backers are billionaires - and they believe Cardiff City would be a good investment."

According to the newspaper, representatives of the potential investors attended the Bluebirds' 1-1 draw with Blackpool at the Cardiff City Stadium on Saturday (January 9th).

It is thought that the takeover would cost approximately £40 million, with £23 million being used to settle outstanding debts.

The club recently came to a payment agreement over a longstanding £15 million debt owed to former owner Sam Hammam's Langston Corporation.

Cardiff City are currently fourth in the Championship, 13 points behind leaders Newcastle United.

Written by Terry Mitchell

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