Hangin' With ... Carlos Silva Executive Transactions CA Head Refuses To Guarantee Pay Model England To Host 2021 Rugby League WC Ecclestone Calls For Walls Around Track Atlético CEO Lays Out Financial Goals Nikken Sekkei Fears Camp Nou Delays Names In The News AFL Considering Twilight Grand Final Regan Calls For Cross-Border League
SBD Global/February 14, 2014/FranchisesPrint All
Premier League club Cardiff City has "launched a fresh attack on the spending" by former Manager Malky Mackay after announcing that the club spent £3M ($5M) net on players in January, according to Gary Jacob of the LONDON TIMES. The South Wales club said that its shareholders blame Mackay for "imprudent and careless management," citing the losses incurred in the purchase of Andreas Cornelius, the Denmark striker, who became Cardiff’s record signing when he moved from Copenhagen for £7.5M in the summer. Cornelius failed to score in 11 appearances before Cardiff "decided to cut their losses and allow him to return to Copenhagen" for £3M last month. He was paid £45,000 ($75,000) per week by the club but will still receive £6,000 ($10,000) per week for the duration of his five-year contract -- similar to what he previously earned at the Danish club. In a statement on the Cardiff City website, CEO Simon Lim "detailed specifics of the losses made on Cornelius but went on to point the finger of blame at Mackay and Iain Moody, the former head of recruitment." Lim said, "The key shareholders have made their dissatisfaction of such a huge loss known to the board of directors, which they believe is due to imprudent and careless management undertaken by the previous football management." Lim conceded that "press speculation on the loss incurred by the club due to sales" was "unfortunately" true. He said, "The new structure, headed by the chairman with our new manager Ole Gunnar Solskjær, has given comfort to our shareholders that the process is prudent, transparent and professional." Cardiff said that it brought in seven players, some on loan, in the transfer window at a cost of £6M ($10M) in fees including agents’ payments, recouping £3M from the sale of Cornelius (LONDON TIMES, 2/13).