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  • Mitre Jan 17

Cardiff sell land to tackle debt

Cardiff City have been given permission by local authorities to sell land worth almost £2 million in an effort to tackle its debts.

Cardiff City will sell a plot of land at Leckwith to Capital Retail Partnership, a company owned by Paul Guy, a major shareholder of the Bluebirds. The council's share of 40 per cent of the £1.9 million sale will be deferred for five years.

"It's all good news that the sale has gone through," said Cardiff City Supporters Trust's spokesman Keith Morgan to the Press Association. "They’ve got the season ticket money and this money and can use it to pay down debt. It is short-term good news but what still hasn't been explained is how the club deals with the medium to long-term debt."

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