July
Newsfile

Newsfile Archive

Sam Hammam starts his new job today. Head of the new Cardiff City family. The cheque for £3,139,558.64 was handed to Steve Borley at yesterdays game after being signed by the six signatories, all season ticket holders, who were Sam's representatives for the day.

There's no truth in the rumour that Steve Borley was last seen running up Cowbridge Rd with a bucket and spade and a one way ticket to Barbados. Steve will continue to work hard for Cardiff City even though his tenure as Chairman has come to an end. Steve promised to deliver a major investor and in Sam Hammam I think he's kept his promise. There is no news about a successor to Steve as Chairman. Sam does not want to be a Chairman, he dosent believe in them.

The money placed into the club by Sam does not mean any of the current directors are made rich overnight, Sam has bought new shares and the money has been carefully allocated. £1.5m will clear all the clubs debts, £1m will ensure the club has a financial footing for the next 2 years and the remaining £500,000 approx will be made immediately available to Bobby Gould to strengthen the squad. All remaining shareholders and directors keep their shares and will all play a  part in the clubs future.

Sam has been frustrated at the time it has taken to get the deal completed. He would have liked to have been in control from the start of the season and has had to watch and wait until now before he can go ahead with his plans. Bobby Gould has been more active in the last few games around the dug out but will take full control of team affairs from today. Billy will be his assistant with George Wood going back to goalkeeping and youth team coaching.

So here goes. The start of a new chapter in City's history.