Cardiff City's Malaysian Co-Owner Planning Big Investment
Cardiff City FC Malaysian co-Owner Vincent Tan has set out plans for an additional £35M ($54.9M) investment in the Championship football club, just weeks after incurring supporters' wrath by announcing that the Bluebirds would play in red next season rather than their traditional blue strip, according to John Brown of the FINANCIAL TIMES. Tan said the "cash injection" would provide management with a "substantial amount" to buy players to strengthen the team and also pay back the longstanding club debt linked to a former owner. The club also wants to settle the dispute with Swiss-based financial company Langston Corp. which "took the club to court in" '08 over a £24M ($37.6M) debt. Tan added that they will have "invested close to £100M ($156.8M) to date, including £10M ($15.7M) budgeted for the new Premier League standard training facilities and a £12M ($18.8M) investment to increase the stadium capacity by 8,000 seats to 35,000" (FINANCIAL TIMES, 6/17).