Langston Vs CCFC Goes On…
Swiss financier company, Langston, are demanding that Cardiff City FC pay back £24m, (of the £31m they owe) instantly with the rest due by 2016, however the Club say they could not possibly afford to do so, and would throw them into administration, affecting them both financially and on the pitch, with a 10 point deduction.
Mr Justice Briggs, ruling the case, dismissed Langston's appeal, meaning the club and company have 8 weeks to work a settlement out of court before the case re-appears in the High Court.
What makes the case so complex is the ongoing stadium development, which is potentially at threat from Langston, and the more personal issue of Langston's owner, Sam Hamman, who was City's former Chairman.
Hamman's company loaned the football club £31 in 2004, and as to date, nothing has been repaid. While Mr Hamman is demanding the majority be paid immediately, the club say it is simply not possible, although they say it will be repaid by the original deadline date, 2016.
Whether the pair can sort out a settlement remains to be seen, and with just 2 months to agree before the case reappears in court, there is a lot of work to be done.
Should Langston win that case, likely to take place in the September, it's possible the club could go into administration, or even liquidation, and lose the ownership of their new Leckwith stadium. This would pave the way for Cardiff RFC to invest in the stadium, ensuring their own future at the ground, something that at present they don't have. Alternatively, the council could stump up the extra cash, or in what would be worst case scenario for Cardiff City FC, they would lose the Stadium altogether.
In lame-mans terms, the news today is good for CCFC, who now have a chance to appeal their case as well as a further 2 months to negotiate a suitable package with Langston. However, they still face the possibility of losing that case, so they are by no means out of the water just yet.
In other news, you can see a live web cam of the new Cardiff City and Cardiff Blues stadium going up by clicking Here.
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Quote:Mr Justice Briggs, ruling the case, dismissed Langston's appeal, meaning the club and company have 8 weeks to work a settlement out of court before the case re-appears in the High Court.
Should Langston win that case, likely to take place in the September,
Quote:Langston's owner, Sam Hamman

Quote:swanseablue
The future of both rugby and football clubs should now remain secure whatever happens.
Quote:swanseablue
Thats not possible reservoir prop/rocky. hamman now has no stake in the club and no involvement in the arrangments regarding the stadium., he is merely trying enact some petty form of revenge on the football club through representating a corporation that is trying to get early return on payments that have already been agreed in contract by CCFC and Langston.They haven't got a leg to stand on!
The cardiff blues wouldnt get thrown out of the new stadium , the board of cardiff stadium limited includes Mike Hall who through his work and that of the council has brought about the issue of ground-sharing and created an agreement in principle for city and the blues to share though this hasnt been agreed. The council wouldnt have agreed to the stadium being built if hamman had any involvment in the stadium , this was the orginal stumbling block behind getting planning permission. The counci lwant the share and will do what they can to preserve that


Quote:swanseablue
What about Wasps/Wycombe, Reading ,L.Irish or even the Ospreys/Swans seem to do quite well?
Arms Park is great but its crumbly ,old and if the region want to develop then the new stadium can see it happen.Times they are a changin'.....
Quote:swanseablue
i.e blues groundsharing .
Bristol RFC moving away from the football club EH?????? As far as I knew both clubs were just temporarily moving out of the memorial ground while it gets redeveloped as from what I saw of the place in January is not before time!
What about Wasps/Wycombe, Reading ,L.Irish or even the Ospreys/Swans seem to do quite well?
Arms Park is great but its crumbly ,old and if the region want to develop then the new stadium can see it happen.Times they are a changin'.....
Quote:swanseablue
Arms Park is great but its crumbly ,old and if the region want to develop then the new stadium can see it happen.Times they are a changin'.....
Quote:Reservoir Prop
As the Neath/Swansea amalgamation was forced to find a new "independent" ground, it came as no surprise that they chose the Library,
Quote:Cardiff Boo's
Main sporting competitor financed off the back of the deal

Quote:swanseablue
One thing if the two clubs share the stadium , then the two teams will cease to become a 'SPORTING COMPETITOR', people will no longer be faced by such a choice on a regular basis.
Quote:swanseablue
One thing if the two clubs share the stadium , then the two teams will cease to become a 'SPORTING COMPETITOR', people will no longer be faced by such a choice on a regular basis.
How the h*ll are they going to play any decent passing football on that pitch after the state it was left in?

Quote:StockyBlue
Did anyone see the quadmire of a pitch at Stockport last night for the Sale v (mud) Bath?How the h*ll are they going to play any decent passing football on that pitch after the state it was left in?
Master plan.....just show the video of that game to the board at CCFC and we haven't got a hope of them wanting to rent the Stadium to us for our games......oh dear!!!!