Hammam says it was a tough decision to make.
Sam had admitted not having the financial clout to be able to take the club through to the Premiership and into a new stadium
"The only thing in my mind was to do what is best for the fans and the club," Hammam told www.cardiffcityfc.co.uk. "I have agreed for new investors to inject new monies into the club. This agreement will be concluded as soon as possible but no later than the end of this year.
"The club at the moment is facing three very important events, all at the same time:
1. Getting the best possible stadium under way
2. Keeping our possible promotion push going
3. Taking care of our long term debts
"The new investors can deliver all three. They have the muscle to do it. These people have the Club's interest at heart and have acknowledged the Club's massive potential. I am a man with strong financial clout but nevertheless nowhere near what is needed for the club to go forward.
Sam's full statement can be read here
Peter Ridsdale paid tribute to Sam Hammam in his piece. He praises Sam for the way he has stepped aside for the greater good of the club.
Ridsdale also thanked Sam for giving him a return into football.
When Sam arrived we were languishing in League Two," Ridsdale told www.cardiffcityfc.co.uk "Sam has given not only the people of Cardiff but also the whole of Wales, the belief that we can achieve his dream. In the end Sam has sacrificed his personal position for the greater good. Few people would do that and it is a testimony to the man, that this is what he has done. Sam knew that this club needed new investment to take it forward. This is a massive club with even more potential. By stepping aside now, he has given us a chance to achieve everything that has been dreamt about. Whatever happens, Sam will be ever remembered as the man who created the new Cardiff City. The 'dream' was his and when achieved will be remembered as his.
"Sam is an 'all or nothing man' and with new investors it was not possible for him to remain. He therefore agreed to this personal sacrifice.
Peter Ridsdale's full statement can be read here
While the comments made by each man are dressed up nicely and just about what you'd expect the bigger questions are starting to raise their heads.
What are Hedge Funds seems to be the most common question. I imagine a bigger picture will emerge over the course of time.
To the layman it seems that we have sold out to a faceless consortium, headed by Peter Ridsdale, who have (or are going to) clear our debt and and get us the stadium and back the manager to get promotion.
Put like that I'm all for it. It has to be good?
Is it that simple though? I hope it is. Some other questions. Will Hammam have any role here at all? Has he sold all his shares? Who are the people investing in us? Do we ever really need to know?
Hopefully in the not to distant future we get some of those answers and a whole load more infornation on exactly what's happening.