Bluebirds dispute a 'power battle'
CARDIFF CITY are ready to make a last-ditch bid to avoid meltdown by offering to pay back creditors Langston their £24m early - but only if they call off their court action.
Wales on Sunday understands Peter Ridsdale and his fellow directors are happy to negotiate an accelerated repayment programme which would see the debt repaid before the current 2016 deadline.
But that offer only stands if the costly court action is called off and any claims to the club renounced.
Ridsdale has always maintained he is willing to repay Langston - reportedly represented by former Bluebirds' owner Sam Hammam - their full monies owed in due course, and the legal wranglings have only delayed efforts to raise cash through avenues such as stadium naming rights.
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Crisis-hit City pushed towards the brink
THE threat of crisis club Cardiff City being plunged into administration drew nearer last night after an extraordinary day which saw the Bluebirds pushed towards the brink of financial meltdown.
The row between City and their major creditors Langston, who are demanding payment of a £24m loan plus interest, intensified after the two parties engaged in claim and counter claim.
And it emerged last night a simple misunderstanding over timescales caused a High Court hearing originally set for Monday to be put back until the new year.
It leaves Cardiff, who have seen their banks withhold further funding until the crisis is sorted out, facing the prospect of being unable to meet day-to-day running costs.
And things worsened even further yesterday when 11th-hour talks between the two parties set for Monday to resolve the debt row were also put on hold.
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