Shareholders give blessing to Malaysian takeover at Cardiff
Friday 28 May 2010
Cardiff City shareholders officially approved the investment of a Malaysian consortium at an extraordinary general meeting yesterday.
The cash-strapped Championship club announced on 1 May that an agreement over new funding and restructuring of their existing debt had been agreed, with chairman and chief executive Peter Ridsdale to step down on 31 May. That agreement has now been rubber-stamped and Dato Chan Tien Ghee, already a director of the club, will formally take over as chairman. The move will safeguard City's future following lengthy High Court battles to stave off winding-up orders over unpaid taxes. Paul Guy, U-Jiun Tan and Michael Isaac also join as nonexecutive directors.
Notts County have confirmed manager Steve Cotterill will leave the club when his short-term contract expires on Sunday. The 45-year-old led County to the League Two title after taking over in February but has since stalled on signing a new deal. Cotterill is in the frame to succeed Avram Grant at Portsmouth and has been touted as a possible successor to Paul Mariner at Plymouth.
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