Cardiff City may be all set to grace the top division after a long gap, but things are not all rosy in south of Wales. We chart the rise of the club in recent years and sacrifice that has gone behind it.
There rarely has been a dull moment in the life of an average Cardiff City supporter for the past decade or so. The club which was languishing at the third tier of the English league structure at the turn of the century have found their way to the promised land that is Premier League for the upcoming season. The ride though has been anything but smooth. During it the fans have been treated with a heady concoction of anxiety, hope, despair, frustration and elation. And even at the cusp of a new era in top division, all those contrasting emotions persist ai??i?? some more vehemently than ever before.
Ironically, the man who has been the primary architect of Cityai??i??s ascension to the top is the person who polarizes opinion like no other in south Wales. Vincent Tan, the Malaysian billionaire, has been generous in injecting much needed funds to the cash strapped club in the last couple of years without which, leave alone achieving promotion, avoiding administration would have been near impossible.
Cardiff City and financial woes have gone hand in hand for long. Back in 2004, the club borrowed to the tune of A?30 million from a company named Langston which was owned by the then club chairman Sam Hammam, a Lebanese businessman (click here to know more about him..). Ever since this debt had acted like an albatross around the clubai??i??s neck and restricted its ability to borrow further funds from banks and financial institution, thereby stunting its growth. Situation was further complicated when Hammam decided to sell up his stake in the club after his plans to develop a new stadium were dismissed by the city council and a consortium led by Peter Ridsdale ai??i?? the man who oversaw the financial meltdown at Leeds United ai??i?? took over in 2006. Soon enough Langston called in on their loan and took the club to court in 2008.
A period of financial uncertainty ensued as the club flirted perilously with administration multiple times but somehow escaped the winding up order each time. On the pitch, even though significant investments were made in transfers and salaries, promotion to the Premier League remained elusive. The closest they came to success was in 2009-10 when they lost out to Blackpool in the Playoff Final at Wembley. On a more positive note, in June 2009, the club was finally able to leave their old abode ai??i?? the decrepit Ninian Park ai??i?? and move into their new home at the Cardiff City Stadium.
However, even the increased matchday revenues from the new stadium, failed to improve the financial health of the club sufficiently and club management were becomingAi??desperate in their search for new investors. It was under such dire circumstances that the club found its knight in shining armour in the form of Malaysian businessman Chan Tien Ghee who took over as chairman in May 2010. The new chairman subsequently brought on board his compatriot Vincent Tan, a man with an estimated worth of $1.3 billion.
Tan, whose portfolio includes real estate, hospitality, gambling and golfing, had built up his fortune back in his homeland through acquisition of the countryai??i??s McDonald franchise in 1982. The intervention of a business tycoon with such deep pockets seemed to be a godsend for City fans who had fretted over their beloved clubai??i??s balance sheets for so long. Boosted with Tanai??i??s riches, those fans could finally dare to dream about promotion rather than having nightmares about possible administration.
But soon the fans would be woken from the reverie as they were about to learn that there is nothing called a free lunch, especially in the world of football finances. In May 2012, the Malaysian investors first revealed the plans of rebranding the club including change of colour ai??i?? from the iconic blue to red ai??i?? as part of a major investment pledge. Initial backlash from fans forced the idea to be put on hold, but in following weeks it became apparent that rebranding was the only way to ensure that the club continued to enjoy the benevolence of Tan and his cohorts.
With Tan promising to clear off the Langston debts ai??i?? the scourge of the club for so long ai??i?? and to invest in upgrading the training facilities, the Cardiff board was happy to bite the bullet and sanction the move that essentially meant foregoing the century long traditions of the club. The reason put forward behind the change was that it would help promote the brand in Asian markets. The fans had no option but to swallow the bitter pill and watch as their club took to field in a colour other than blue for the first time since 1909.
But while Tan may have alienated a significant majority of the clubai??i??s fan base with the rebranding exercise, the investment into the squad started to reap handsome dividends as under manager Malky MacKay, City mounted a strong promotion challenge and were finally able to put to rest years of heartbreak by securing their path back to the top division of English football for the first time in over half a century.
Off the field too, Tan has delivered on his promises. After protracted talks with the former owner Sam Hammam, the club has finally been able to reach an agreement with Langston which will go a long way in making the club competitive in the Premier League. On transfer front, Tan has already bankrolled the signing of Danish striker Andreas Cornelius for a club record fee and the club remains locked in talks for a number of other high profile targets. MacKay too has been effusive in his praise for Tan.
So what now for the legions of City fans? The debate on financial stability as against cultural heritage has put the fans in an unenviable position. Some radical sections, such as Bluebirds Unite, remain as steadfast as ever in their quest to restore what they believe to be the true identity of the club. Others, meanwhile, have conveniently turned a blind eye towards the sweeping of the clubai??i??s tradition under the carpet of commercialization and are instead busy basking in the glow of the clubai??i??s recently enhanced stature. But the question that is bound to lurk in the minds of both sets of supporters is what the future holds under Vincent Tan. There have been talks of further rebranding and the possibility of the club being renamed cannot be ruled out altogether. Such a drastic step might too much even for the more reasonable fans to digest. But then again, the alternative ai??i?? without Tanai??i??s money, the vultures will start circling the club in no time ai??i?? is too bleak to contemplate.
For now though, the century old club and its loyal fanbase enter a new phase in history while being stuck firmly between the devil and the deep blue (pun not intended!) sea.
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