Peter Ridsdale has today morning announced that he is stepping down as the chairman of Cardiff City. The Cardiff City chairman has been under the scanner for past few weeks now on charges of tax evasion. Though during the press conference he announced that legal action had nothing to do with him resigning from the post.

Ridsdale who previously had been owner of Leeds and Barnsley football clubs has been criticised for his mismanagement of funds at the previous clubs. Cardiff fans have been claiming that nothing has changed in his way of management as debts are piling up for the club. Ridsdale always had a bitter relationship with the Cardiff City faithfuls. They have been calling for him to step down from the post and had been against him even when he took over the club. It is believed that one of the directors will take his place as the chairman.

Since the announcement this morning there have been scenes of jubilation outside club grounds which some observers have announced bordered on craziness. Matthew Smith, an Cardiff City Fan, said " I could not have wished for a better day. I hate Ridsdale and was always against him. That guy has no knowledge of running a club. He took Leeds and Barnsley to the brink of death and Cardiff was following the same path. We have been saved in the nick of time. Our efforts to pressurize him have paid off."

Ridsdale announced in the conference, "I am not stepping down out of my own wishes and not because the fans have been asking me too. I have got bigger things coming up my radar and I need to focus my energy on the same. I wish Cardiff loads of success."