Cardiff are £32.8M In Debt

Cardiff City's annual accounts have recently been released and they reveal that the club is in debt to the tune of £32.4M. The club made a trading loss of £1.05M during the period.

Chairman Peter Ridsdale was paid £204,000 and on top of that his consultancy company WH Sports was paid £325,000.

The accounts also reveal that last year the club, on a turnover of £12.7M, made a trading loss of £1.05M, bringing the total amount it owes up to £32.84M. The loss would have been higher if the club had not sold players for a total of £5.5M.

Staff costs came to £13.1M with 105 the average number of employees.

The Bluebirds are moving to a new stadium shortly and hope to sell the naming rights of the new stadium. It is thoughts the rights could be worth several million pounds. That money is expected to be paid to its main creditor Langston to whom, it is understood, it owes up to £24M.

Recently Hereford United chairman Graham Turner has spoken about clubs living beyond their means. Cardiff City look to be one such club.

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