Cardiff consortium officially on board

Posted Friday, May 28, 2010 by teamtalk.com

Cardiff shareholders officially approved the investment of a Malaysian consortium at an extraordinary general meeting on Thursday morning.

The cash-strapped Championship club announced on May 1 that an agreement over new funding and restructuring of its existing debt had been agreed, with chairman and chief executive Peter Ridsdale to step down on May 31.

That agreement has now been rubber-stamped and Dato Chan Tien Ghee, already a director of the club, will formally take over the role of chairman.

The move will safeguard City's future following their lengthy High Court battles to stave off winding-up orders over unpaid taxes to HM Revenue & Customs.

Paul Guy, U-Jiun Tan and Michael Isaac also join as non-executive directors alongside existing non-executive board members Steve Borley and Alan Whiteley. Ridsdale, Alan Flitcroft and Keith Harris officially stepped down as directors.

Also confirmed in the radical shake-up is Gethin Jenkins as new chief executive officer and Doug Lee as finance director.

Dato Chan, commonly known as 'TG', is no stranger to the club having officially jumped on board back in November shortly after interest from the Far East was known.

He has also been present at most of the club's crucial fixtures of late, including last weekend's heartbreaking play-off final defeat to Blackpool at Wembley, and held talks with manager Dave Jones at the start of this week which saw both parties commit their futures to each other.

And speaking after this morning's announcement, Chan said: "I would like to like to offer my thanks and sincere best wishes to Peter, Alan and Keith for what has been achieved during their tenure as they move on to new horizons.

"The new board takes over at an important milestone in the history of the club, with the facilities, infrastructure, a dedicated backroom staff and a team that has a great opportunity and belief to challenge for promotion.

"We are looking forward to working together, utilising the passion, belief and involvement of every existing and new supporter of Cardiff City to bring long term recognition and success on a local, national and international platform."