Cardiff are ready to offer former owner Sam Hammam the position of life president at the club.
Bluebirds officials told a fans' group at a meeting on Wednesday that the proposal was part of the club's offer to repay the £15million owed to Hammam's company Langston.
It was confirmed the club's options to settle the debt are to pay £8million within 30 days; £10million with £3million payable now and the rest at the end of the season, or £13million with £8million this year and an additional £5million if Cardiff are promoted.
Cardiff's Malaysian investors Tan Sri Vincent Tan and Dato Chan Tien Ghee have promised to plough up to £100million into the club, but have met with opposition from some fans after announcing they will change the team's shirts to red, with a new dragon crest.
Hammam sold the club to a consortium fronted by Peter Ridsdale in 2006 before Tan Sri Vincent Tan and Dato Chan Tien Ghee, known as TG, took control in May 2010.