Cardiff City v The Inland Revenue

It is only just under two days before the court appearance with the taxman with every Cardiff City fan wondering what is going to happen. My money is on Chairman Peter Ridsdale trying to strike a new payment deal in the hope the taxman will go along with it, having defaulted on a deal before, the taxman could play hardball and demand full payment.

If payments are agreed, what will that mean with the transfer embargo, will the Football League allow Cardiff boss Dave Jones to bring in new players on loan or have the club have to wait until the full payment is paid.

What if the winding-up petition, brought about by the Inland Revenue is granted, what is the future hold, administration? Administration could kill off Cardiff’s promotion hopes, as the Football League would hit the club with a 10-point deduction. Financial expert’s plum for administration was the safest option if you can do a deal with the taxman. Has going to court is a big gamble. The court could hear the case, and say the debt still has to be paid, and put the club into liquidation. That would lose the opportunity of going into administration.

We do not hear much about what if the judge was to put the club into liquidation I have been told it is a possibility, well that route is a club killer. The would mean the winding-up petition was granted and Cardiff City Football Club would formally cease to exist. An official receiver would then break-up the club up to secure cash for the clubs creditors and players would have their contracts torn up and become free agents. All this is very scary roll on Wednesday I just want that first hurdle dealt with before the next crisis.

Wednesday seems to be winding-up day at the High Court last week Plymouth were up before the judge and had their winding up order officially dropped when Her Majesty’s Revenue and Customs asked judge to dismiss the winding up order. Also in court that day was Accrington Stanley with the taxman chasing £78,000 debt the second winding-up order in three months and they paid the debt with just hours to spare.

On Wednesday Cardiff will be joined by Portsmouth whose chief executive Peter Storrie admits the club's best hope for Wednesday's court date is to delay the winding-up order for the 7.5million they owe the taxman.