Cardiff will see their multi-million pound debts wiped out by the consortium which is set to complete a takeover of the club.

Club owner and chairman Sam Hammam has agreed to sell his majority shareholding in the club and will be officially replaced as chairman within the next 48 hours by his deputy Peter Ridsdale, according to Wales on Sunday.

The details of the deal were discussed and agreed at a board meeting on Friday and under the terms of the takeover, former Wimbledon chairman Hammam will step aside to be replaced by the man he brought to the club as a consultant in February last year.