It used to be that the only time we heard about a team's finances are once a year when the official financial results are announced. Cardiff have had high profile chairmen in Hammam and then Ridsdale, and have seemed to have struggled with their finances for many years.

The attached explanation of Cardiff's finances makes grim reading. The club had made large losses for years, and has clearly only survived through the continued largesse of the owners/directors. This dependency has been stretched to breaking point, and now the HMRC have demanded to be paid.

A few things stand out looking at the accounts. The first is the wage bill. In total over the last 8 years the club has paid out  £4m more in wages than it has taken in. This is clearly madness. If it had been one rogue season, or even two, where the board could say they were investing in order to gain promotion then it may be excusable. That it has been over two chairman, and has never improved shows shocking management from the board room. Peter Ridsdale in particular, having presided over the mess at Leeds, should have known better.

Following on from this is the predictable annual loss, a total of £32m in 8 years, is totally unsustainable.

The amount of money being taken out of the club by its board of directors is of interest too. The three of four guys in the board room have taken £3m from the club in the last five years while the club has made losses of nearly £16m. That the HRMC is chasing a payment of £1.9m from the club, with the threat of  administration if they fail to pay, puts these figures in to perspective.

That the board sanctioned spending over £5m on players last summer is mind-blowing stuff. They cannot afford to pay the tax man but they are prepared to pay out piles more to other clubs.

Cardiff are late delivering their accounts to Companies House for this year, they will be starting to pay fines on these latre accounts.

This site hopefully presents to you the financial results in words that we can all understand. All the numbers quoted about the club have come from the club's own accounts. If a mistake has been made in this, and you spot it, then PLEASE let us know, the aim is to be as honest as can be. If you have more accurate information then please get in touch.  

Also if you have any suggestions on what else should or could be looked at please get in touch. Usually the intention of the site is not to try and influence your opinion on the way the club has been run, just to give you the facts, and let you draw your own conclusions, it is difficult not to be critical of the Cardiff board.