Financial Crisis? Administration? Not Looking Good


Going Bust?!

By Chris O'Brien
March 2 2005

We can't draw conclusions how serious the problems are at Ninian Park. Yet with mounting debts, unpaid players, a team in relegation trouble and supporters being lied to; all is not well at Cardiff City Football Club. New Page 5

Something is definitely wrong at Ninian Park. The media have sparked fears of a cash crisis as Sam Hammam calls in the auditors to sort out the woeful financial situation at Cardiff City. The more pessimistic supporters are discussing the prospects of relegation, administration or even bankruptcy and club ambitions of a new ground and Premiership football look a mere pipe dream.

The revelations started on Tuesday. Concerned employees of Cardiff City contacted the local press after they had not been paid. Sam Hammam and the club were quick to squash any rumours of a financial catastrophe. The blame was placed on a administrative error, everything was fine, and the players would wake up the next day to a nice boosted bank balance. There was a bad smell - with debts of over £30million, was this just an honest mistake?

24 hours later and fans can now see things are worse. We still don't know the truth, but reading between the lines of hurried press reports, the money troubles at Ninian Park are getting progressively worse. Hammam has drafted in auditors to study the financial problem at the club, jobs are set to be axed and, to boot, we have had another delay in the tedious "building" of our shiny new Leckwith stadium.

With a monthly wage bill of over £750,000, it is hardly surprising that the debt is mounting. Our highest paid player earns £12,000 a week, and though he remains a mystery figure, there is not one single player in the entire squad who deserves that kind of pay cheque. Staff have still not been paid, and the talk of a computer error would appear to be more lies. The club hope to have paid all staff by next week.

Information is sketchy. Conclusions cannot be drawn at this stage, but with auditors going through club finances with a fine toothcomb clearly the problems are getting worse. Hammam has gone against his word of offering £10million for team strengthening and has now told supporters all the spending must stop. Job losses look certain, and several of the playing staff look set to be on their way out of Sloper Road. Daniel Gabbidon, anybody?

Robert Page left for Coventry last week. The defender has been poor since his surprise move over the summer, and farming out the Welsh international will have cut a few thousand off the weekly outgoings. Who's next? Tony Warner, Tony Vidmar, Daniel Gabbidon. Just three of the names expected to leave at the end of the season. Big changes look likely to the squad, and City may have to rely on a talented youth side to add depth to a depleted roster next term.

As for the new ground, it's yet another delay. When Hammam arrived, he seemed to think the stadium would be ready to move into 14 months ago. A shovel has not yet dug a trench, and the farce rumbles on. The latest date plucked from the air suggests work won't begin until August with the 'grand' opening for the St.David's complex to be two years after that. However, it is clear we have more short-term problems to deal with than the possible New Ninian.

On the pitch, Sheffield United visit Ninian Park on Saturday. Fears are that many staff won't turn up for match day amid fears of not getting paid, but the club has assured them and all fans otherwise. The Blades will be battered and bruised after being taken all the way in an F.A Cup replay at home to Arsenal before losing on the lottery of penalties, but will the City players have the passion to perform. Putting bread on the table could be a bigger concern!

Something is being hidden, and not very well either. I've never believed the hype surrounding Sam Hammam and the cracks are starting to appear and are growing. Mounting debts, unpaid players, unpaid staff and a team slipping towards the relegation zone of the Football League Championship. We need answers and we need them soon.

CCFC - KEEP THE FAITH

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