Langston does not want Cardiff in administration

Welsh Cardiff City has been given an ultimatum to pay up debts owed to the Swiss-based Langston Corporation or hand over control of the club.

The deal under which Langston holds Cardiff City debt in the form of loan notes was agreed when Sam Hammam was chairman of the club.

Langston is claiming a GBP 24 million loan is due. Cardiff City officials have said the loan is not due full repayment for at least another nine years.

The club's chairman Peter Ridsdale insists the club has guarantees to pay off part of the loan through naming rights of the new stadium, while the rest is not due until 2016.

Club officials said administration would be the final outcome if Cardiff City lost the case. Langston, through solicitors Hextalls, said in a statement that they did not want to see the club sink into administration.

The company claims Cardiff City's financial well being and effort on the pitch are important — because it has a stake in the club with the large loan. The statement said that if the club placed itself into administration, it should bear the wrath of its fans and creditors.

“Hextalls are aware that the above matter has caused concern to the club’s staff, players and supporters and wishes to reiterate Langston’s commitment to resolving these issues to the benefit of Cardiff City FC and all concerned,” the statement read.

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