Cardiff insist the signing of Craig Bellamy "adds up in a business and sports context" after it emerged the Football League wanted information from the club regarding the deal before registering the player.
League chairman Greg Clarke wants the loan deal for the Wales captain to be closely scrutinised because the npower Championship club have debts estimated at £30million and are being threatened with a winding-up order by Scottish side Motherwell over an unpaid transfer fee.
But a statement from the Bluebirds read: "We are fully confident that this deal adds up in a business and sports context. It should be remembered that the club has released 10 players this summer, and to date have brought in two free agents and season-long loan players."
The statement continued: "We are extremely proud to have reached a sensible deal with Manchester City which has allowed us to bring Craig home to realise his dream of playing for his home town club and to help us pursue our ambition of challenging to join the Premier League.
"This deal has also been fully supported and underwritten by our Malaysian investors who have shown unprecedented support since joining the club.
"By bringing Craig Bellamy to Cardiff City we continue to work in the interests of the club, the city and Wales. We will be in contact with the Football League on Thursday morning to discuss these matters further."
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