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Article: Ridsdale: Uncertainty over court case cost us pounds 5m; Investors hold back until Langston case over.(News)
- Article from:
- South Wales Echo (Cardiff, Wales)
- Article date:
- February 27, 2008
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Byline: Terry Phillips Chief Sports Writer
HARD-UP Cardiff City has a pounds 5m shortfall in its budget because of continuing uncertainty surrounding its legal battle with Langston, it was revealed today.
Chairman Peter Ridsdale spelt out the financial difficultiesas the clubpreparesfor a High Court case against the loan note holders on March 10.
He said: "I have a pounds 5m shortfall in the budget I did not anticipate. An investor is still keen to buy pounds 2m of shares in the club.
"It's all agreed and the money is still there, but ...