28 Jan 2010Cardiff City not using cash for players

Football Clubs News | Football Finance News

Cardiff City have ruled out making new additions to the squad this month, despite the money raised by the club's recent season ticket initiative.

The Championship outfit offered to reimburse all fans who bought a 2010-11 season ticket before December 31st, providing they win promotion to the Premier League this year.

It was thought that the funds generated by the campaign would be spent on new players, but the club have now confirmed that the money will be used for "over overheads and financial issues".

A statement issued by the Bluebirds yesterday (January 26th) explained that a lack of fresh investment has forced them to put plans for strengthening the squad on hold.

"The viability and financial health of the club is the ultimate priority," the statement said.

Cardiff City are currently facing a winding-up order from HM Revenue & Customs, which relates to an outstanding tax bill of £2.7 million, in the High Court on February 10th.

Written by Terry Mitchell

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