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SBD Global/April 18, 2013/Franchises
Cardiff City Owner Vincent Tan Pledges $38M On New Players Following Promotion To EPL
Published April 18, 2013
League Championship club Cardiff City's Malaysian Owner Vincent Tan said that the club could spend up to £25M ($38M) "on new players after securing promotion" to the EPL, according to the BANGKOK POST. The Welsh club "will return to the English top flight for the first time in 51 years" after a 0-0 draw at home to Charlton Athletic on Tuesday guaranteed promotion from the second-tier Championship. Financial difficulties in recent years have left the club with an overall recorded debt of £83M ($126M), but Tan said that "they will find the money to fund a competitive assault" on the EPL. Tan: "We need to strategize well, and we'd like to spend some money -- maybe £20-25M ($30-38M). Others have spent a big amount of money and don't do well, so we will try to spend smartly." Cardiff will join local rival Swansea City in the EPL next season, "meaning there will be two Welsh clubs in the English top flight for the first time in the competition's 125-year history" (BANGKOK POST, 4/17).