No 'formal bid' from Bale for Cardiff
Cardiff City Supporters Trust claim Gareth Bale's reported interest in buying into the League One club amounts to little more than a "fishing trip" - with no formal bid on the table.The former Wales captain confirmed on Monday he is part of a group that made direct contact with Bluebirds owner Vincent Tan, and is hopeful an attempt to buy Cardiff will succeed.But the Trust say the group has yet to follow up their initial proposal with a firm bid."As a result of a conversation the Trust has had with the club at board level, it seems that no formal bid has been made for the club to consider," said Trust chair Keith Morgan."Rather, a notice of intention to make such an offer was delivered direct to owner Vincent Tan who seems to have had little interest in it and, in the absence of an actual bid, the matter was not progressed further. "The board have confirmed that no bid has been received and that one is not anticipated."Morgan claims the consortium are merely on a "fishing trip" to test which clubs might be available to buy, citing reports that they had also attempted to take over fellow League One side Plymouth Argyle.Morgan says guidance he's had from former business colleagues in the accountancy world is it would be "inadvisable" for Tan to sell up at this stage. "As a consequence of last season's relegation, the club's income from TV/media rights and the solidarity payments through the EFL agreement with the Premier League has dropped by a total of approximately £10m," said Morgan."This obviously impacts on the selling value of the club."The formal hearing in the ongoing legal claim against FC Nantes is due to be held in just a few months' time in September with a ruling laid down by the end of this calendar year. "If the claim is successful (and there is great optimism that it will) then the club could benefit by many millions of pounds. "This would significantly increase the value of the club."Cardiff are not commenting on reports that Bale and the consortium want to buy the recently-relegated club.
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