"I have been asked to sit in. It is not something I was seeking and my only interest is in helping City," Ridsdale told the Echo.
"If I can do that in any way I will, but there is no chance I will be returning to Cardiff City FC in the future.
"I want the club to succeed and hope that happens, but I have moved on."
Yesterday Sam Hammam was quoted as saying:
"TG and myself working together - that's a dream team for Cardiff City. The Bluebirds will be back to their best.
"I don't want to be involved on the financial side - that's where I made my mistakes. But I can put the football back into City. I have the contacts needed.
"We have to move quickly. The work done at this stage decides what happens at the end of the season. There is no time to waste."
A full statement from Cardiff City Chairman TG will follow.