Cardiff consortium officially approved

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Cardiff shareholders have officially approved the investment of a Malaysian consortium at an extraordinary general meeting.

The cash-strapped Coca-Cola Championship club announced on May 1 that an agreement over new funding and restructuring of its existing debt had been agreed, with chairman and chief executive Peter Ridsdale to step down on May 31.

That agreement has now been rubber-stamped and Dato Chan Tien Ghee, already a director of the club, will formally take over the role of chairman.

The move will safeguard City's future following their lengthy High Court battles to stave off winding-up orders over unpaid taxes to HM Revenue & Customs.

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