"Deal is signed official. Future now secure"
Hammam stormed from a meeting in Cardiff yesterday leaving the club's existence in the balance.
Hammam it's thought wanted more from the takeover than was on offer. It's claimed that with both sides at loggerheads the deal would collapse leaving the club in a position where administration was the only option.
Those matters have clearly been resolved this morning with Hammam agreeing to a dilution of his shares to approx 8%. It's unclear yet what terms Hammam agreed to, certainly he'll get the £24m paid off and then a package that sees him move aside. Whether he stays around the club is unknown.
The bottom line is that now the new investment can come in, that means funds for Dave Jones, a clarning of the debt, a new stadium and a much brighter future.
It's Black Friday in Cardiff today, the last Friday before Christmas. I guess we'll never really know just how black it could have been for Cardiff City but with the news from Steve Borley it's not a a black day anymore.