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CITY'S pounds 30M DEBT BOOST.

Byline: By Terry Phillips South Wales Echo

Cardiff City's massive debts will be slashed by pounds 30m at the end of this month. The new stadium project goes unconditional on Monday, April 30, and club chairman Peter Ridsdale says: 'Then it's all systems go on, first, the athletics stadium and then the football stadium.'

Cardiff City are scheduled to move into their new stadium at the end of 2008.

Ridsdale says:

Cardiff City's debt stood at pounds 32m last December - and that figure will be slashed to pounds 2m.

The pounds 24m in loan notes are returned as soon as the stadium goes unconditional.

It's all systems go on the new athletics stadium from April 30 - and the new pounds 1.5m track has already been ordered.

The minimum of 25,000 seats when Cardiff City's new stadium opens is guaranteed, but it is likely to be between 26,000 and 27,000.
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Title Annotation:icWales
Publication:South Wales Echo (Cardiff, Wales)
Geographic Code:4EUUK
Date:Apr 14, 2007
Words:153
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