Cardiff City chair clarifies loan stance

Welsh Cardiff City chairman Peter Risdale is maintaining that he was correct last week in describing the state of affairs with the club's loan with Langston Corporation.

The company has started court action against the club, claiming it is supposed to get immediate repayment of GBP 31 million from a loan to Cardiff City to help with its stadium. Langston loaned the company GBP 24 million in 2004, claimed there has been no interest and said the terms of the loan dictate full repayment with interest.

Risdale rejected those claims last week, saying the loan was renegotiated in 2006, and payment is not due until 2016.

Risdale clarified his stance on the loan after questions from club supporters.

"According to the loan agreement with Langston, interest at 7 percent will accrue from March of this year, but it will not be repayable until 2016," Risdale said. "There is another clause which states that if the club cannot afford to repay the debt then repayment could again be deferred."

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