Businessman has already started investing money in the club...
Championship side Cardiff City have announced that businessman Datuk Chan Tien Ghee has joined the club's board and has already started to invest money in the club.
The club was at the High Court today to face a winding up order from HM Revenue and Customs. The case was put off for 70 days to allow the club to pay the undisclosed debt.
The news of Tien Ghee's investment capped a good day for the Welsh team.
"It's very, very good news," said chairman Peter Ridsdale. "We fully expect that the club will see an opportunity for investment of funds, not only on a personal level but also through some of his contacts in the Far East.
"We have already received some money and more money is on its way from the banks in the Far East.
"We are in a period when we expect whatever we have received to be enhanced in the future through various options which will include looking at sponsorship opportunities, but will also include direct investment."
Risdale also refused to rule out the possibility of Tien Ghee taking full control of the club at some point in the future.
"I don't think anybody would be putting in the sort of funds we are expecting over the next few weeks unless they see it as a good investment opportunity," he said.
"If it turns out to be as good as we both believe it will be then who knows where it may lead.
"The club is in good hands today and it will continue to be in good hands in the future."
Tien Ghee said he felt "proud" and privileged" at becoming a part of the club.
He told the club's official website: "I am very proud and privileged to be joining the board of Cardiff City at this time.
"Now that the infrastructure is in place, I believe that together with the existing board I can help to provide Cardiff City with the additional resources it requires to achieve the ambition of attaining Premier League football."