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There
has been plenty of newspaper talk over the weekend regarding possible takeover /
investment into Cardiff City FC. The names of
Sam Hamman, Clive Sullivan, David Sullivan etc keep cropping up but there is no substance
in any of the rumours at the moment. Steve Borley admits that he is speaking to many
interested parties but I think after the previous Sullivan failure that its best kept
close the Chairmans chest until there is concrete news to give.
The purchase of extra shares by the board last week which has
reduced samesh Kumar's %age has opened another door. Mr Kumar would not be able to block a
takeover like he did last time.
Here are three reports form the weekends press on the
subject.
From TotalWales 6/5/00.
CARDIFF CITY directors have cleared the way for a cut-price summer takeover amid
speculation that former Wimbledon owner Sam Hammam wants to buy the club and instal Joe
Kinnear as manager. Five board members - chairman Steve Borley, vice-chairman
Michael Isaac, Paul Guy, Kim Walker and David Temme - have between them purchased an
additional £250,000 worth of shares. This has reduced Samesh Kumarıs shareholding
to below 25 per cent and the former chairman can no longer block potential investors as he
did initially when the group fronted by Clive Sullivan made a £2.5m bid for the
controlling interest. The latest shares buy-up by the directors has opened the door
to a new takeover bid, either by Clive Sullivan, his brother David, or Hammam.
Borley, currently holding talks with would-be investors, said, ³There is a lot of
interest in the club and I hope we will have news during the close season.² Temme,
recently appointed chief executive at Ninian Park, is dealing with numerous inquiries but
denied a takeover was imminent. ³People are bandying names about like Sam Hammam
and Joe Kinnear. But itıs simply not true that they are about to come into the club,² he
said. ³Accountants looking at the books were brought in by me to help create a
sensible business plan. ³Perhaps, David Sullivan could do this, perhaps Sam Hammam
and Joe Kinnear could do that. But itıs all speculation. ³I honestly believe Clive
Sullivan was disappointed he couldnıt complete the takeover deal. ³As for his
brother David selling out at Birmingham City to buy Cardiff. If he had such intentions he
would surely have made them known. But he hasnıt been in touch. ³Thereıs a lot of
talk about a Mr Big taking over and this club has an open-book policy with regard to
talking to potential investors. ³The latest money the directors have invested will
prevent Samesh Kumar blocking any future deal. ³But if you wait for Mr Big and do
nothing you are selling the fans and yourselves short. Thatıs why we are pressing ahead
with a three to five-year business plan.²
The board had pledged to keep the strongest playing squad possible, added Temme.
³Everyone was bitterly disappointed we went down and weıll have to keep a weather
eye on expenditure next season. ³But we cannot slash the football budget. Weıll
keep it as high as we can because the aim is to bounce straight back to Division Two.
³Itıs my responsibility to bring in more commercial revenue. Iım surprised and
disappointed that more businesses havenıt come forward to support the club. Itıs sad
that Welsh companies donıt grasp the nettle. ³The city has given financial backing
to rugby, cricket, athletics and swimming. Now surely itıs footballıs turn. Until such
support is forthcoming, we will quietly close the curtains and get on with the job of
actually achieving something.² Manager Billy Ayre has been asked to draw up a
retained list, his own chances of staying depending on who owns the club next season.
From Wales on Sunday 7/5/00.
Former Wimbledon chief Sam Hamman is refusing to confirm or deny mounting rumours
that he wants to buy out Cardiff City. Hammanıs name has been heavily linked with the
Ninian Park club on the football grapevine since he sold his controlling interest in The
Dons. Two newpapers reported yesteday that hamman was considering a move for City. When we
first spoke to Hamman about the tissue two weeks ago he declined to say OTesı or ONoı
tot he question of whether he was lookign to buy the Bluebirds. Hamman has maintained the
same non-committal approach since. A numbe rof toher clubs, includign Tootenham, are keen
to bring Hammanıs experience on board, but sources close to the ex-Wimbledon chief say he
likes being No.1 man. Quizzed about his interest in the Bluebirds Hamman woudl only say:
³Iım not focused on this issue at the moment.² Pressed further, he repeated those words
and said: ³Thank you for your phone call, but I canıt say anything about it at this
particular moment. ³I canıt comment but I will speak to you in detail when the time is
right.² Hamman has close linsk with Cardiff, having tried to bring Premiership side
Wimbledon here lock, stock and barrel a few years ago. His plan was to play at the old
Arms Park with the team renamed the Cardiff Dons. On a previous occasion Hamman discussed
a bizarre club swap schene with then Bluebirds chairman Rick Wright. The plan was for
Wimbledon to play here in the Premiership as Cardiff City and for the Bluebirds to play in
London as Wimbledon. The deal did not get off the ground, but Wright felt he was very
close to striking an agreement. ³I have not spoken to Hamman or anyone associated with
him. There are probably 80-odd League clubs who would liek to get him on board with
them,² insisted Cardiffıs current chairman Steve Borley. Aske dif he woudl necessarily
be aware of Hammanıs interest, if it had come through a third party Borley said: ³Yes, I
think I woudl still know.² Tottenham supremo Alan Sugar is keen to install Hamman at his
club. But it appears that Hamman is takign a low key approach and is keeping his options
open at the moment.
From Wales on Sunday 7/5/00.
Cardiff City could be in line for a takeover double boost, with Clive Sullivan AND
London investors backing a Bluebirds promotion drive next season. Cityıs directors are
already looking to plot the way forward again and bounce straight back from their Division
Two relegation woes. Having been embarassed by the collapse of the first Sullivan £2.5m
package, Cityıs directors will try to keep any new deal under wraps until signed, sealed
and delivered. But significantly they admitted on Friday to making moves behind the scenes
to pave the way for a Mr Moneybags to come in and take up a 51 per cent shareholding this
summer. City chairman Steve Borley repeated what he has already told Wales On Sunday,
saying: ³There is a lot of interest in the club and I hope we will have some good news
during the summer.² The takeover talk has been mounting since we revealed that City were
in discussions with investors again, with London money men and Sullivan believed to be the
front runners. The current City directors have pledged to find the £250,000 by buying new
shares to cover the cost of the clubıs huge summer wage bill. By doing that they will
reduce the 38 per cent shareholding of previous chairman Kumar, who vetoed the £2.5m
Sullivan deal earlier this year. Kumar, as the major shareholder, was understandably
unhappy when the Sullivan camp suddenly halved their offer price from 50p a share to just
25p. Sullivan has never lost his interest in taking over the Bluebirds, despite the
collapse of the proposed deal. He could link with a group of affluent London businessmen
who have also been looking at pumping money into City. Wales On Sunday understands a
foreign investment bank have been doing the negotiations on their behalf. Even Cityıs
relegation from Dvision Two has failed to dampen the enthusiasm of the potential new
investors. Bluebirds chief Steve Borley had admitted he is talking to people but would not
divulge who they were. But Borley believes the buzz of two instant Millennium Stadium
sell-outs - against Finland and Brazil - is more than enough to convince investors of the
demand for football in Cardiff. Cityıs directors have drawn up a business plan to attract
new money men into the club. One carrot they are dangling is the prospect of a new state
of the art 30,000 seater stadium to be built within the next three to five years. City are
exploring possible sites, including land at Leckwith next to their current Ninian Park
home. |