Cardiff chairman insists club not going bust

Cardiff City chairman Peter Ridsdale has reassured fans that the club is not going bust and money is available to spend in the transfer window.

Cardiff City chairman Peter Ridsdale has reassured fans that the club is not going bust and money is available to spend in the transfer window.

The championship outfit are believed to have to settle a £2.7million tax bill this week or face a winding-up order from Her Majesty's Revenue and Customs (HMRC).

The Cardiff chairman said in the News of the World: "We will have the money to pay the Revenue and we will pay them this week.

"I personally spoke to the Revenue before Christmas. I told them we can pay at the beginning of January and they were happy with that.

"We have a good relationship with them. They know what's happening.

"There will be funds coming in this month and I'm confident there will be no issue with the Revenue after January.

"We will have money to pay our tax bill and we'll have money to do things to the team."

The Cardiff supremo blamed the cash-flow problems on the cost of fitting out the club's new stadium.

He added: "Fitting out the stadium cost £7m more than we envisaged so there has been a hangover from that.

"But funds will be coming in shortly and the club is in healthy shape."

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