Latest News

Cardiff’s Premiership bill- £174m of debt

|
Image for Cardiff’s Premiership bill- £174m of debt

vincentanAfter one season in the Premiership, which brought in a £64m boost from broadcasting fees, Cardiff City are in debt to the tune of £174m!

The staggering figures illustrate the madness of ‘English’ football economics with clubs blinded by the glamour of Premiership football as the cash flows in at one end and disappears out the other into the hands of players and agents.

Yesterday’s home defeat from Wolves leaves Cardiff sitting in fifteenth place relegation to League One looks more likely than a return to the Premiership with Blackpool and Wigan, who have recently played in the Premiership, filling the bottom two places.

In 2008 Cardiff, then relatively living within their means lost the FA Cup Final to a Portsmouth team financially doped beyond belief with the south coast side, FA Cup Finalists again in 2010, crashing like a stone to the bottom tier thanks to a succession of owners, moonbeams and financial disasters.

Summing up the their finances Wales on Line noted in that Cardiff accounts: “It states gate receipts increased from £6.2m to £8.2m while “centralised broadcasting and commercial distributions” rose from £4.8m in the Championship to £63.9m.

“Wages and salaries across the club rose from £27m to £46.7m while “disposal of players’ registrations” during that period is quoted at £5.1m.

“Cost of player registrations is stated at £45.7m, up from £16.5m the previous season, while £11.6m came from sales.”

It’s believed that £130m of the debt is owed to Vincent Tan which is similar to Bolton’s situation where club benefactor Eddie Davies is owed £151m of the clubs debt which was last reported at £163.8m

In December 2013, after one season spent in the Championship, Bolton chairman Phil Gartside said: “The widening gap between the leagues makes the transition difficult. This year’s results show the difficulties faced in the football business when a club has enjoyed a sustained and successful period in the Premier League, in our case 11 years, then suffers relegation back to the Football League Championship.”

Share this article

Online and independent- the only way to be. Enjoying instant news access and reaction, following the trends if not an influencer!