The transfer was overseen by former boss Malky Mackay and head of recruitment Iain Moody, now at Crystal Palace. Cornelius's transfer, and several others, were believed to have caused the breakdown of relations between the pair and club owner Vincent Tan.
Cornelius has no major part in new manager Ole Gunnar Solskjaer's plans and would be permitted to leave the club before Friday's transfer deadline.
Former club FC Copenhagen are expected to swoop to bring the young Dane back to the club, with Cardiff willing to accept a bid in the region of £3m.
Cornelius has so far played in eleven Premier League games, but has no goals to his name.
FC Copenhagen's official Twitter account shocked fans across Europe when on Wednesday afternoon they revealed that the club were close to an agreement that would see the 20-year-old return to Denmark.
Reports in the aftermath of Mackay's sacking at the Cardiff City Stadium reported that Cornelius was earning in the region of £40,000 per week. The nature of Cornelius's contract reportedly riled Vincent Tan.
The south Wales club are now prepared to lose £5m on what they paid for the youngster, as they bid to get him off the wage bill and enable Solskjaer to bring fresh faces to the club.
image: © @boetter