I suppose it’s the same every summer, but this year it feels like you get the occasional week where something worthwhile happens at City interspersed with far more where the only things up for discussion are transfer rumours which, nine times out of ten, turn out to be crap anyway!
Before the week just ended, I can remember two others where it was a question of what to leave out when doing one of these reviews, as against casting around fairly desperately for something to include. We’ve signed four players this summer and the fact that Josh Murphy and Greg Cunningham both arrived in the same week and then it was the same with Alex Smithies and Bobby Reid only tends to emphasise this.
Well, there were no new signings this week, but, in a way, it could be argued that this was the most significant one of the close season so far.
Before going on to the reasons why I say that, I should also record that on Wednesday the large majority of the squad returned after their summer break for preliminary tests and screening, followed by the start of pre season training the following day.
Also, on the transfer front, it was reported that Derby had accepted an offer of one and a half million pounds from City for Craig Bryson, but this was subsequently denied by the club. Other names mentioned have been Russia striker Artem Dzyuba, midfielder Oscar Lewicki (who despite his fifteen caps for them, was not in the Swedish World Cup squad) and there’s been a little more about Josh Windass, but, for now at least, the only transfer rumour I’m believing is the one which says City have been in contact with Liverpool about another loan move for Marko Grujic.
The first of what I’m sure will be many announcements to come regarding changes of kick off times and/or dates for the upcoming season arrived on Friday with this announcement that, because of television coverage, three of our first four home games will not be the originally announced 3pm Saturday afternoon kick offs.
However this was almost buried under the torrent of good news which emerged that day. First thing in the morning, there was this announcement from the club regarding finances, but that wasn’t all – Cardiff City Supporters’ Trust were able to inform members through e-mail and report the information on their website at the same time as it was being announced by the club and they also reported that, notwithstanding, six million pound transfers for strikers, “the club has received formal confirmation that it was compliant with the Profitability and Sustainability (formerly Financial Fair Play) Rules for the 2017-18 season just ended.”.
Regarding the debt to equity conversion, having been part of a meeting with club officials at the time of the infamous rebrand (May 2012) in which it was said that the conversion was “imminent”, I think it is fairly understandable why I was something of a cynic when it came to this subject. To be more accurate, I was a complete cynic for about four years, but my attitude began to change when it became clear debt was being converted into shares at the rate of about 8 million pounds a year.
However, the major portion of the conversion, involving a sum of sixty odd million pounds as announced by Vincent Tan in February 2016, (we were told it would be included in the accounts for 15/16) stubbornly failed to materialise. At various times, the club’s response to questioning about the delay in this conversion ranged from they were waiting for Malaysian Government approval for the procedure to commence, to the Football League’s financial fair play regulations would not allow it.
Now, regular readers will know that I’m no expert when it comes to football finances, but, from what I can gather, the Football League rules did prevent the largest of the conversions taking place in the manner described by Mr Tan nearly two and a half years ago.
There has been speculation that the conversion only became possible as a result of our promotion and, again, speaking as that non expert, this has a ring of truth to it, but I’ve also seen it said on a messageboard by someone with close contacts to the club, that the Malaysian Government had been reassured by our promotion and their earlier doubts regarding our precarious finances while we were a Championship club had now dissipated.
So, it might well be that both of the reasons given by the club for the delay were genuine, but that’s just something to speculate on, the important thing now is that Vincent Tan has come through on his promise.
When you think back to 2012 and the “sweeteners” offered as compensation for the change to red, it’s fair to say that, leaving aside arguments about how wisely it was spent, we did get investment in the team sufficient to get us promoted and then a level of further spending which really should have been enough to ensure we stayed up in that first season in the Premier League.
We also got the Ninian Stand extension. Now, I’ve been a frequent critic of the timing of and the necessity for the construction of this part of the ground, but, four years later, I have to admit that the bigger gates as a result of going up could well mean that “Tan’s folly” will be transformed into a welcome and required addition to the stadium (I’m sure the new stand will be full for five or six games, but the question remains, will we playing to capacity crowds when we are facing, say, Bournemouth, Huddersfield and Watford?).
When you factor in things like waiving interest payments, earlier, smaller, debt to equity conversions and now these latest figures, then, even without transfer and wages spending and the new stand, the 100 million pounds that was talked about six years ago has, almost certainly, been met and exceeded.
The only item still outstanding from the 2012 checklist is the new training ground, but whenever I go along to watch a game at the training complex at Hensol, I ask myself why do we need a new one, this is, surely, good enough, even for a Premier League club?
Therefore, although I’m sure there will be those who will still be unable to forgive and forget the rebrand, this long time Vincent Tan critic is now saying that the slate has been wiped clean as far as he is concerned and I now regard our owner as I did from 2010 to 2012 – a man who, when I look at many of the alternatives at other clubs, gets me thinking “thank God we’ve got him”.
Yes, Vincent Tan has got my thanks and appreciation, not only for what he did this week, but also for the huge majority of what he has done at the club during what is now almost a nine year association with Cardiff City if you include the period dating back to 2009 when his name first started being mentioned as a possible investor. Hopefully, he will be able to attend many more games during the coming season.
Having provided confirmation earlier that Joe Bennett and Neil Etheridge had signed contract extensions, the club revealed a few hours after the debt to equity news that a further seven players had done the same – rather than list them myself, this link gives all of the relevant details.
You will also see that Neil Warnock confirms that Aron Gunnarsson has verbally committed to a further year at the club and, reading between the lines a little, it seems that both parties wanted to see how Gunnar coped in the World Cup following what was the worst season for injuries he’s had in his seven years at Cardiff before formally confirming things officially.
What needs to be said here is the sort of outlay involved in all of these renegotiated contracts (don’t forget Junior Hoilett has recently signed a new three year deal as well) will tend to get forgotten about in the months to come, but it has to be a substantial figure and so, once again, the contribution of Vincent Tan here should not be forgotten.
However, it’s not just our owner who needs to be acknowledged here, Ken Choo, Mehmet Dalman and, no doubt, many others at the club are all doing their part to ensure that, this time, City appear to be a lot better equipped for the Premier League challenge to come than they were five years ago.
Of course, it still may not be enough and the very real possibility that it will be Championship football we’ll be preparing for again this time next year cannot be discounted, but, even if that were the case, City appear to be far better placed to cope with a relegation than they were at the first time of asking.
Oh, I almost forgot, the new kits for next season were also revealed. Now, I hardly class myself in the “target audience” when it comes to matters like this and this can be proved by the fact that I had to ask how the 18/19 home kit differs from the 17/18 one – it does in five or six ways apparently! With this in mind, I’m sure the club will be devastated to learn that I rate the new blue kit as no more than a five out of ten, but, equally, they’ll be absolutely over the moon to hear that I like the eight out of ten rated away shirt – will it be blue, grey, white, black or even mauve and yellow shorts with it though?
N.B. You can now catch up with Mauve and Yellow Army on Twitter at https://twitter.com/MauveAnd – it would be much appreciated if you followed me on there, I’ll do the same for anyone with a Twitter account.
Thanks Paul, do agree very important week indeed ,however my understanding of finance matter regarding transfering debt to equity and that’s after googling it i’m still puzzled what it really means surely we owe somone something .
Perhaps one of the contributors to this blog can pull togther an Idiots guide for me.
On the playing front I do feel we are still short I’d like playmaker in midfield, perhaps though Neil see’s that is there ,will the not mentioned Damour and Tomlin play parts this year ,they are good players with the ball at thier feet,with the Premiership perhaps giving them more time and space which both appear to like as does Zohore, the biggest intrest for me is how these players adapt and deploy thier skills in a hugely different tactical environment.
Finally and I know it’s not fashionable for a Welshman to say “well done the Ingerlund team “and isn’t nice to see a measured manager with manners , seems a genuinely nice man . They could get there now
Thanks for doing the hard yards on finances, Paul.
That said, I have to say that colour switch apart, Sir Vincent has not put a foot wrong all these years. Even the Vincent’s Vision stand extension proved prescient, and the colour red has there at least, proved fortuitous…helping ensure that we keep international games at the CCS.
And now changing the subject…
How right you were to sing the praises of this World Cup. Even a somewhat jaded footballing fan like me has now got the fan fever. Delighted with England to date, but still think that any team that can keep Rashford on the bench, cannot be playing to their full potential.
Really upset though to see this scoundrel Bilic so loved by our nation and his fellow ITV panelists.
I still stand by these comments I posted on your site a year or two back..
Check out both lots of comments from me…not just the one…
http://mauveandyellowarmy.net/weekly-review-572015/
Oh I would love it if England could stuff Croatia…but I am far from sure it is a gimme. Their keeper impresses me despite the first goal he let in yesterday, and his disgraceful histrionics with his hamstring. And their two world class midfielders are better than anything that England have, when it comes to “eye in the needle” passes.
And finally, as the wife and I have a property in a town on the Volga River, I ought to be there in Russia now. But the truth is, as I said recently, I cannot walk 100 yards on the banks of the HUMBER …let alone the Volga…!!
Thanks again for the review Paul, another good news week and the future looks brighter than ever, finances under control and the majority of the squad under long term contracts.
On the basis of the manager’s comments that Gunna has verbally committed, Gruic likely to return and that he wants another striker I think there are potentially only two squad places up for grabs. I believe Danny Ward and Kadeem Harris will be allocated those places leaving Pilkington, Bogle, Tomlin, O’Keefe and Healy surplus to requirements. Assuming Gruic returns and the striker has premiership experience, have we enough quality to stay in the division?
I understand that a debt would have to paid first, in the event of the club going into administration. Equity owners, or shareholders as Mr Tan is, get what’s left in a sell off. The debt for equity swap makes the club more secure and enables City to spend on players without impacting on the Fair Play rules.
Good afternoon Paul and others – Yes, what good news from Mr.Tan and he is to be applauded for his actions and his continuing support for the City despite the adverse comments he received from many a few years back. He could easily have walked away from the CCS and quite where that would have left us goodness only knows. He does seem to have a sensible team around him, and in Ken Choo, a Chief Executive who not only capably looks after the City’s affairs, but also successfully our ownwre’s marquee motor franchise in London.
But back to matters soon to take place on the field. The two names mentioned in your report this week, Dzyuba and Lewicka, have certainly come out of left field, and I am not sure that either would add much to the playing staff already here. From the World Cup evidence, the former is cumbersome and not the equal of Zahore and as the latter no longer appears as a Swedish international, he may not improve our mid-field to the extent of either Gunnars or Grujic. And the news of Windass arriving has gone quiet – but in any event do we need another player of his type? If we could sell Tomlin for the sort of money that Windass would cost that might be good business. What we do not know is just how much more money we have to spend, if any. Will any more new arrivals have to be “loan” players?
I have ( sad man that I am ) been researching the web site “Transfer Market” to learn if there are any useful central mid-fielders out of contract and perhaps available for a signing on fee, always assuming that wages are not a problem. There are one or two, but I’ll refrain from mentioning them here, but if our European scouting system is up to the mark, then we should know about them. The lure of the Premiership might attract such players, but David Moyes is adamant that players should be seen in the flesh over a period, and not just clips on You Tube. I certainly understand that, but if our scouting system is functioning properly, then that should be happening. We obviously acquired Damour in a sensible fashion, and there may be a few more like him on our radar.
Our players reporting back for training this week seem to be somewhat behind a few other teams – both Liverpool and Southampton had matches over the week-end – but there is a busy schedule planned before August 11 so I hope they will be up to the mark.The fact that so many of our first team squad have been given longer term contracts must be good for morale.
Another week begins, and I look forward to your comments in seven days, and perhaps the signing of a quality central mid-fielder.
Great summary Paul and what a great week of news. The conversion of debt to equity is a big deal and will certainly make us more sustainable and interesting to a potential buyer should the day come that VT decides he’s had enough of the criticism sent in his direction, which I hope is a long way in the future. Yes, a decent amount of it is deserved but I cant’t help but wonder what advice was given by the rest of the boardroom to a man who had no knowledge or idea of the effect the impact of changing our colour would have on the fan base.
And as you say, despite what errors have been made, the slate is well and truly cleared now.
For any fans who are still vowing never to return, all I can say is cheerio!!
From a player perspective, I like the fact we are looking for hungry players with a point to prove or a name to make rather than “has been” 34 year olds who are after a last pay cheque. Should we go down, I’m pretty sure we’d go down with a more experienced team that would stay together and mount a serious challenge the following year.
Finally, much respect to Ken Choo, Mehmet Dalman and of course NW who seem to have a very tight grasp on the daily business, with no leaks outside to the press etc. May be a bit boring not having credible rumours to mull over but I’d much prefer to keep our cards close to our chest without alerting competitors of the players we are after.
Thanks everyone for your replies.Hopefully, Richard’s, very welcome, first post on here answers Russell’s question. As for the World Cup, I’m probably going to do something on here about it before the Semi Finals, so won’t say too much now, but I agree with Russell about Gareth Southgate who always struck me as an intelligent and “normal” bloke in his okaying days and he doesn’t seem to have changed one iota – I also agree with Dai about Rashford.
I’m not sure the red seats in the new stand are the sole reason why international games are still being played at our ground mind Dai!
Jeff, I wonder if Kadeem Harris will be allocated one of the places you talk about? That said, looking at those other players you list, you could well be right – I’d say a great pre season for Tomlin might get him a place, but I think it would really need to be genuinely great for him to win our manager around in terms of him being a Premier League player. As to whether we are good enough, I fear we would not be in central midfield because we would be relying on the same players as last season except that Bryson has now left, so, if anything, we’d be weaker there than we were when hardly impressing in that area in the Championship.
BJA, I thought Dzyuba did pretty well against Croatia, but I agree with you really – it would be a big gamble bringing a twenty nine year old over from Russia who has played all of his football in that country.Regarding our scouting system in Europe. I may be wrong, but I get the impression Neil Warnock relies on the opinions of one or two mates (bet there are plenty of others who do much the same) – I’ve always felt we’d sign at least one player from mainland Europe this and, if I had to name one player from there who has been linked with us this summer, I would opt for Arslan, but I’m less sure now that we will be shopping in Europe.