Malaysian investment earns promotion-chasing Cardiff reprieve

LONDON: Promotion-chasing Cardiff were on Wednesday given a six-week reprieve over the payment of £1.9mil the club owe to Britain’s tax authorities to allow a proposed cash injection from a Malaysian consortium to be finalised.

The cash-strapped Second Division club, who have reached the play-offs for a place in the Premier League, avoided the implementation of a winding-up order at the High Court after presenting evidence that the club would be receiving £6mil before the end of the month.

The proposed cash injection and related restructuring, which will result in the Malaysian investors taking a substantial stake in the club and Datuk Chan Tien Ghee taking over as chairman, will be put to shareholders on May 27.

Tycoon Tan Sri Vincent Tan is one of the men helping to finance the Malaysian consortium, according to reports.

The club announced at the weekend that current chairman Peter Ridsdale will leave at the end of the month.

By then Cardiff will know whether they have succeeded in their bid to reach the Premier League.

Dave Jones’ side face Leicester in a two-leg semi-final playoff and, if they come through that tie, will take on either Nottingham Forest or Blackpool in a one-off Wembley showdown for a place in the top flight. — AFP

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