5 May 2010Cardiff City set for High Court hearing

Football Clubs News | Football Finance News

Championship promotion contenders Cardiff City face a trip to the High Court today (May 5th) to settle their unpaid £1.9 million tax bill.

HM Revenue and Customs (HMRC) is demanding repayment, which has already been postponed three times by the Welsh side. A deal with Malaysian tycoon Datuk Chan Tien Ghee has reportedly been agreed to rescue the club's finances.

The Bluebirds said in a statement last week that controversial chairman Peter Ridsdale will vacate his role at the end of this month, adding: "Agreement has been reached with regard to new funding for the company and restructuring of its existing debt."

BBC News reports that Cardiff City told a hearing in March that they had already received £500,000 from Mr Ghee, with another £6 million to follow. HMRC counsel Matthew Smith had called for the team to be wound up.

Ridsdale attracted widespread criticism for his role in the infamous downfall of Leeds United, who are currently battling for an automatic return to the Championship.

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