Tuesday, March 16, 2010
MALAYSIAN SET TO TAKE CONTROL OF CARDIFF CITY
PETER Ridsdale could leave Cardiff City as early as the end of this month ... if major investment from the Far East materialises.
Malaysian property tycoon Dato Chan Tien Ghee is set to fly in this week to try to finalise talks on funding for the Bluebirds, thought to be around £6m.
If the talks are positive, Malaysian investors could even be in charge by the time Watford come to Cardiff City Stadium next Sunday.
Ridsdale and fellow club director Alan Whiteley have been in regular contact with Dato Chan. Over the last four days they have spoken to the Malaysian businessman three times – and they will talk again today.
Ridsdale would not comment, but he has always said that once the new stadium is completed and major investors come in he will leave.
Ridsdale has been the target for a number of protests by fans, while the personal abuse he has received from texts and e-mails means he is ready to walk away.
If Dato Chan, known as TG, confirms an investment which would give him day-to-day control of the football club, Ridsdale is ready to go at once.
It is likely fellow director Steve Borley would step in to help on the football side of things should Ridsdale go.
A source close to the chairman said: “Peter Ridsdale said from the start that his job was to help ensure the new stadium was completed – and bring in new investment.
“He will leave when those two factors are completed – and that could be as early as the end of this month.”
Ridsdale has been with the Bluebirds for five years and, while City have established themselves in the Championship during his tenure, they are also facing major financial problems.
If Dato Chan goes ahead with his investment, the outstanding tax debt should be paid.
Former chairman Borley has been in the Far East over the weekend, having taken wife Christine on a birthday treat. He has been staying at a resort on an island off the Malaysian coast, but did fly into Kuala Lumpur and held a meeting with Dato Chan.