Trust chair Keith Morgan sent the following message to members.
Dear Member,
All UK Companies are obliged in law to update their records at Companies House for relevant changes such as accounts updates and changes in Directors or security over their assets. We as a Trust monitor Cardiff City filings at Companies House to see if any changes have occurred. You will recall that, in the past, we have notified you of changes at Companies House, in relation, to the club such as filing of annual accounts, share issues, conversions of debt to equity etc.
We have noted that a Legal Charge, created in September 2009, regarding two leases for 125 years between the Council and the Club in respect of the “Football Stadium at Leckwith Road, Cardiff and the Coach Park and Hotel Site” has now been satisfied in full and removed as an existing charge from the register. Some members also spotted this on the Companies House website and contacted the Trust to ascertain the situation.
I have made enquiries with the club and in this case, the charge was granted to Cardiff County Council in September 2009 in respect of funding they provided to the football club in 2007 to assist with the initial costs of building the Cardiff City Stadium. The funding was provided by means of a loan to be repaid over a 20-year period.
In February 2024 the loan was fully repaid slightly ahead of the 20-year anniversary so the charge over the new stadium lease could be released and the Companies House records were subsequently updated in May 2024.
Cardiff City Football Club has a 150-year lease starting in 2009 over the stadium granted by the Council as landlords. Rent payable is a “peppercorn” i.e., nominal amount.
The amount of loan in question has not been revealed and the Club is under no obligation to do so. Referring back to the 2007 accounts a figure of £83,372 is shown as a loan from the Council but I cannot absolutely confirm that this is the figure. However, whatever the amount, it is an early repayment of a loan to the Club in respect of Stadium construction costs and should be viewed positively.
We will continue to monitor Companies House activities in respect of the Club and will endeavour to keep you informed of any other changes.