{"id":5190,"date":"2006-10-24T00:00:00","date_gmt":"2006-10-24T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-to-finance-football-club","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2006\/hedge-funds-to-finance-football-club.html","title":{"rendered":"Hedge Funds to Finance Football Club"},"content":{"rendered":"<div class=\"writeboardbody\">  HedgeCo.Net (New York) &#8211; Sam Hammam quit his post as Cardiff chairman and has been replaced by Peter Ridsdale as the club prepares for huge new investment strategy. The identity of the new  investors is still unknown, but in a statement Hamman revealed that they are looking to hedge funds to manage Cardiff\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s \u00c3\u201a\u00c2\u00a324m debt in exchange for equity in the club.  <\/p>\n<p>    The statement read: \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cIt has been clear for some time that if Cardiff City Football Club were to fulfil their ambitions to build their new 30,000-seater stadium\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a6there was a requirement to bring    new funding into the club\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a6. an agreement has now been reached for a debt for equity swap with institutional hedge funds, who have acknowledged the unique huge potential that exists with Cardiff    City Football Club.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d  <\/p>\n<p>    Sam Hammam says they are \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201ctwo or three\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d London-based financial institutions who specialise in hedge funds. The deal is being brokered by former Football League chairman Keith Harris, now head of    investment bank Seymour Pierce. Harris is also advising the Icelandic businessman hoping to buy West Ham United.  <\/p>\n<p>    Ridsdale said: \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe will end up within 12 months being debt-free business and having a new stadium\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a6.Sam has taken his shareholding down from 82.5% to not a lot and people who are putting the money    in wanted to see a change of management before their investment.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d and that the new hedge funds will \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cbecome the majority shareholders.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d  <\/p>\n<p align=\"left\">    Alex Akesson<br \/>    Contributing Writer<br \/>    HedgeCo.Net<br \/>    Email: <a href=\"mailto:Editor@hedgeco.net\">Editor@hedgeco.net<\/a>   <\/p>\n<div align=\"left\">\n<p align=\"left\">      HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge      Funds!    <\/p>\n<div align=\"left\">\n<p align=\"left\">        <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=        \"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong> and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>      <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>    &nbsp;  <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; Sam Hammam quit his post as Cardiff chairman and has been replaced by Peter Ridsdale as the club prepares for huge new investment strategy. The identity of the new investors is still unknown, but in a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5190","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5190"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5190\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}