Ridsdale not set to invest

ATHLETIC have distanced themselves from speculation that Peter Ridsdale is interested in joining the club's board of directors.

The controversial former Leeds United, Barnsley and Cardiff City chairman was present at Boundary Park as a guest of the club for Saturday's 4-2 home win over Plymouth Argyle.

Contrary to comments made by the Argyle chairman in the national media, though, the 58-year-old had himself asked to come along to the game rather than being invited by Athletic with a view to making an investment.

Ridsdale is a personal friend of Athletic chief executive Alan Hardy, who told the Chronicle there were "no discussions" taking place regarding his possible investment in Athletic.

Ridsdale is keen to return to football at some point, but it is believed he would view right now as too soon.

And while pondering his options — Ridsdale only quit his role as Cardiff chairman in May of this year, after the club lost its Championship play-off final 3-2 to Blackpool — he is watching matches around the country.

In recent weeks, Ridsdale has set tongues wagging by attending fixtures at Morecambe and Plymouth.

His career in the game is mixed. Taking over as Leeds chairman in 1997, he enjoyed the high point of his reign when the club reached the semi-finals of the UEFA Champions League in the 2000-01 season.

However, the club then embarked on a downward spiral and Ridsdale resigned in 2003 with the club heavily in debt.

A year-long spell at Barnsley followed soon after, Ridsdale taking over at the helm to stop the club folding before resigning with finances again tight.

And after joining Cardiff, initially to help plan their new stadium, he became chairman in late 2006, succeeding Sam Hammam.

While relatively successful on the field, the npower Championship club have been the subject of several winding-up orders over unpaid tax debts in recent times.

And published accounts for the year 2009 showed the club — now owned by a Malaysian consortium — had a debt of £66million.

FUNDING

Athletic are seeking new funding after the owners Simon Blitz and Danny Gazal resigned from the board and stopped bankrolling the club before the start of this season.

Amid a climate of falling crowds at Boundary Park, chairman Simon Corney told the Chronicle last month that while the club were seeking investors, the task was "very difficult" and that it is "important that if someone comes along, it is the right person".

The club made a loss of £1.542million for the year ending December, 2009.