Peter Ridsdale Strikes Again! (Cardiff in trouble)

Well, here's a surprise. Peter "Prudent Financial Genius" Ridsdale is at the head of a club that is facing administration and battles with creditors. Sound familiar? Of course it does... because our friend Peter is responsible for the fall (and to be fair, the meteoric rise before that) of Leeds United Football Club. I'll never really be too harsh on him, because I hated Leeds, but really... who hires an administrative head who spends £250,000 a year on tropical fish, £11m on Robbie Fowler, and gives Seth Johnson a first and final contract offer of £50,000 a week.

Well, Cardiff City did.

I'm not sure what exactly they had in mind when appointing Ridsdale as Chairman, but it certainly wasn't common sense. Ridsdale was initially appointed in 2006 as Vice-Chairman to help with Cardiff's project for a new stadium (this is the man who borrowed £60m against future gate receipts at Leeds, and lost the stadium in the process), but was made Chairman when Sam Hammam stepped down. Quite what struggling Cardiff expected, i'm not sure, but they also seemed to have ignored the fact that in between these two forays, he was responsible for buying Barnsley and almost sending them into liquidation.

Ridsdale has now warned Cardiff fans that the club could go into administration if they lose their legal battle against Swiss firm Langston, who are their biggest creditors. Cardiff owe them £30m, and the Bluebirds are insisting that they don't have to pay the money back until 2016, whereas Langston want it NOWWWW.

Said P.Riddy - "If we were to lose we would go straight into administration - it's a straightforward situation, the club's Championship status would be determined by the amount of points we collect come the end of the season, minus 10." Recently relegated Leeds and Luton have both suffered the 10 point administration penalty, and it's no joke for a struggling side.

Amusingly enough, the Stadium project which he was brought in for over a year ago is still unfinished. The Cardiff City council had granted them unconditional funding for the project, which involved a new stadium and accompanying athletics facility to replace the ruinous Leckwith Athletics site in the city. However, this is severely in doubt now, and if the club went into administration, the council would most certainly rethink its decision for unconditional funding.

Said P.Riddy again - "In terms of the stadium it would depend who buys the football club, whether they prove to be an acceptable partner for the council and whether they have enough money to finish the stadium, which would probably be about £20m."

Excellent stuff Peter! Cardiff now have to find approximately £50m pounds to complete the stadium AND satisfy their creditors (assuming the case is lost).