Cardiff have signed left-back Lee Naylor and paid off half of their debt to Motherwell.
And Bellamy arrival enables Bluebirds to cut Well debt
Cardiff have completed the signing of left-back Lee Naylor and paid off half of their debt to Motherwell.
As revealed by
skysports.com on Thursday, the Bluebirds were poised to complete a deal with the former Celtic defender and his registration has been confirmed by the Football League.
Free agent Naylor, who was released by the Parkhead club at the end of last season, played under Cardiff boss Dave Jones at Wolves before heading to Glasgow in 2006.
The 30-year-old has been training with the club recently and could make his debut in the sell-out home clash against Doncaster alongside Craig Bellamy on Saturday.
Meanwhile, chief executive Gethin Jenkins has confirmed that the arrival of Bellamy has helped the club make a significant payment to Motherwell.
Increased
The Scottish side confirmed this week that they were considering issuing a winding-up order against the Bluebirds to recoup £175,000 owed for the transfer of right-back Paul Quinn.
But Jenkins told the club's
official website: "We can confirm that as a result of the increased cash flow with the interest since Craig Bellamy's arrival we have now paid half of the money owed to Motherwell, a club who themselves were in administration, and we have given our word that the remainder will be paid within the seven-day commitment we have made.
"In addition, our current HMRC tax has been paid on time.
"Without going into the specifics, we believe the business and sporting case for signing Craig Bellamy more than stacks up, especially with increased ticket, hospitality and retail sales which is already helping the cash flow of the business.
"We are confident that any other club in the Championship presented with a similar opportunity would have done the same.
"It should also be remembered that we released 10 players off the payroll at the beginning of the season and have not paid a single transfer fee this summer, whilst with the change in management team there has been significant off-pitch payroll savings."
