A three-man panel at the Court of Arbitration for Sport heard the appeal in Lausanne earlier this year.

Cardiff were told to pay the first instalment of £5.3m to Nantes.

The Bluebirds continue to dispute the money owed and have appealed the CAS hearing to a Swiss Federal Court, which is expected to give its verdict in late January or early February, 2023.

"There are lots of legal discussions going on and they will continue to go on, but we have received our first invoice from Nantes," Dalman said.

"We haven"t paid it and at this stage have no intention of paying it, until certain negotiations come to fruition.

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