The club will be held in trust for the 8,500-strong Junior Bluebirds for ever and will be run in accordance with a charter which he has drawn up.
A 10-strong board, to be appointed at the end of the month, will be not be allowed to borrow money or sack coach Eddie May for at least a year. Players will only be bought by money generated through the turnstiles.
'Cardiff will be run like a proper business and if the level of support drops to such an extent that it cannot meet its committments, it will fold,' Wright said.
Barnet slid further towards oblivion when 11 players who are owed wages and bonuses were cleared by the Football League to receive free transfers. 'It looks pretty grim now,' the Barnet secretary, Brian Ayres, said.
Leeds expect to finalise the transfer of Duncan Ferguson from Dundee United for pounds 3.25m on Monday after some difficult negotiations. Another bit of good news for Leeds is that Gary Speed, the subject of transfer moves involving Arsenal and Rangers, has signed a four-year contract. Tony Cottee has signed a three-year deal with Everton.
Southend have signed Ricky Otto from Leyton Orient and Tommy Mooney from Scarborough for pounds 100,000 each.
Referees are expected to ask for more than the money offered by the Premier and Football Leagues for the coming season when they meet in Blackpool this weekend. Referees have been offered pounds l50-200 and linesmen pounds 75- pounds 100 per game.
Jean-Pierre Bernes, the general secretary of Marseille, was arrested when he left hospital yesterday. He is to be questioned in connection with the bribery allegations against the French club. An official of CSKA Moscow has withdrawn allegations of match- rigging against Marseille in a European Cup tie last season.
Milan will play their first two 'home' matches away from the San Siro next season as a result of crowd misbehaviour last season. Sampdoria have been banished from their ground for one match.Reuse content