Cardiff are considering a proposal to change the colour of their kit to red.
Press Association Sport understands it is one of a number of options being considered by the club's board as part of a rebranding exercise to boost their chances of attracting greater revenues.
Cardiff - whose nickname is the Bluebirds - lost their npower Championship play-off semi-final tie against West Ham to leave them facing another season in England's second tier.
The club have been keen to stress that any changes "will recognise the legitimate interests of the fans" and that there will be further consultation with them following a board meeting to discuss a series of proposals next week.
A club statement read: "As is usual at this time of year, Cardiff City Football Club directors and key stakeholders are in talks to review all operational aspects of the club as a means to ensure our long-term success, prosperity and sustainability.
"This wide-ranging annual review process is multi-faceted and incorporates plans to continually build the most competitive team possible going forward, deal with historical issues and continue to positively develop the infrastructure of the club.
"We would like to assure supporters that any decisions will include the long-term interests of our supporters, our community and the survival and development of Cardiff City Football Club in a highly competitive and modern sporting industry.
"As a club we also appreciate the importance of our history, along with our position within the community. We fully recognise the legitimate interests of the fans, supporters and media in the affairs of the club and their right to information in respect of the same.
"On Tuesday we met with and held discussions with representatives from the local media, along with meeting with recognised supporter group and messageboard delegates. During these meetings we discussed the various options going forward, all of which are to be ratified in upcoming board meetings as already mentioned.
"As such we will communicate any decisions made as quickly as possible, but it serves no interest to comment in depth at this time until those decisions have been taken. We would anticipate that the review will be concluded within the next week, after which a comprehensive briefing will follow."