Cardiff City secure last ditch takeover

23 Apr 2008

By: Sport Industry Group

A last-minute takeover deal to secure the future of Coca-Cola Championship team Cardiff City FC has been signed although the identity of the investors remains unknown.

There were fears that the club could have been put into administration if a deal was not done by the end of this week to sell former chairman Sam Hammam's controlling stake.

The £27m buyout of Hammam's majority shareholding is set to clear the Bluebirds' debts and leave the club with a budget to strengthen the team, which has undergone a slump in form after weeks at the top of the Championship.

The money is also expected to fund renovation of the Ninian Park stadium.