Now convert debt to equity, Trust appeal to Vincent Tan

The Trust issued the following statement after announcement of the settlement between Malky Mackay and Vincent Tan.

Tim Hartley, chair of Cardiff City Supporters’ Trust, said: “We are pleased that the uncertainty over the dispute between Vincent Tan and Malky Mackay has now ended.

“When we spoke to Vincent Tan in March, he made it clear that he would not convert debt to equity until the matter with the former manager was resolved.

“This is what I reported to members in March following the meeting with the board and the club owner: ‘Mr Tan gave some cultural but no commercial reasons for the rebrand and told us that there would be no debt to equity conversion until after the settlement of the current legal dispute with the former manager’.”

“That has now happened and we, therefore, urged Mr Tan to honour his pledge and take immediate steps to carry out the conversion, originally promised two years ago.

“Along with the rebranding, it was one of the two issues which has exercised fans the most. We also hope that Mr Tan will, following the settlement, build bridges with supporters by announcing that blue would return as the first team home kit next season. This is a great opportunity for the owner to move forward together with supporters of this club.”

The difference between debt and equity is explained on the Trust website by board member and football finance expert, Keith Morgan.