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Financially things appear to be looking a lot brighter

Discussion in 'Queens Park Rangers' started by qprbeth, Mar 3, 2017.

  1. qprbeth

    qprbeth Wicked Witch of West12
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    https://twitter.com/i/moments/837644477225381889

    Just the £11m loss in this years accounts. A pretty significant improvement on prior years £46m last year with peen income. #qpr #qprfinance


    £12.6m from player sales and a wage bill reduced from £63m to £36m. Amazing what happens when you get rid of SWP, Barton &Niko #qprfinances

    Net liabilities reduced from a staggering £205m to a very pleasant looking £10.5m thanks to the unprecedented share write off. #qprfinances

    These accounts look more like that of a reasonable business than those of a totally hatstand football club. #qprfinances

    Wages reduced by over £32m a year and average wage of all staff down to £246k from £447k. These accounts show real transition. #qprfinances

    The CEO, CFO & COO deserve real credit at #QPR today. They have set out with a sustainability plan and have taken a huge leap. #qprfinances
     
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  2. CroydonCaptainJack

    CroydonCaptainJack Well-Known Member

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    I would imagine the figures have improved substantially from that as well, in the period since those accounts(31/5/16)
     
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  3. QPAAAAAGH

    QPAAAAAGH Well-Known Member

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    But don't you just wonder what would have happened if either of those unspeakably crap managers had actually done their job, got the overpaid stars actually playing and had kept us up? Rather than congratulating the club on its austerity measures would we now be demanding ever more expensive players? TF's business plan at the time was to create a new footballing power by making a big initial outlay and then to rope in other investors from Asia once the brand was a success. And while we all are now keen to 'have our Rangers back' how many of us would truly have rejected that model had he succeeded?
     
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  4. Ciarrai_Abu

    Ciarrai_Abu Well-Known Member

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    The dream is over. We are a championship club that will have to get it very right with player signings and a manager that can instil some magic if we are to have a chance of getting back into the Premiership. I think we have to accept that. Nothing wrong with being a championship club by the way. I would settle for a team playing with commitment, some flair and our fair share of good results. We seem to be getting there.
     
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  5. Ciarrai_Abu

    Ciarrai_Abu Well-Known Member

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    Very few I would imagine. A distant dream now I'm afraid. We royally fcuked up the opportunity.
     
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  6. ELLERS

    ELLERS Well-Known Member

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    I don't think we can call ourselves anything TBH. Look at Chelsea/ManCity. You put the money in you win things and progress. If some sheik or a Chinese Billionaire bought us and wanted to spend the money then things would be different.
    Although I would agree that we wasted 2 great chances in the Prem due to the club being run by idiots.
    TF needs to think long and hard about where he expects QPR to be. Remember he loves his short/medium and long term plans. Get the stadium and training ground sorted, a good youth set up and a manager who knows how to play football and can manage a winning run, then we have a chance.
     
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  7. qprbeth

    qprbeth Wicked Witch of West12
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    Scrub the title. The Twitter expert Niall is pulling back...he has spotted something much more worrying



    Something I missed earlier. Our new majority shareholder is charging interest on his shareholder loans #qprfinances
    These interest payments to Ruben amount to £380,000 per month, so £4.5m per year. Approx 10% of our income.
    For a company that has so needlessly wasted such large amounts of money it is unusual for a shareholder to charge interest. #qprfinances
    For context The mad chicken farmers do not charge any interest on their £87m loan to Blackburn.
    #qprfinances

    The cost of the loans then they may be capitalised into further shares meaning that the initial loan will never be paid back. #qprfinances
    Or it will be paid back via the interest charges. This will then convert to Ruben having an even larger stake in the club. #qprfinances
    I wonder if this will turn out to be a medium term exit strategy for TF or indeed the Mittals. #qprfinances

    So it appears Reuben is by far the largest shareholder, Mittals have only about a 10% covering
    Is this good or bad...anyone know?
     
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  8. ELLERS

    ELLERS Well-Known Member

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    It is something I mentioned some time ago re TF. The more he gets knocked back with a stadium the more he will want an exit plan. Seriously he has cocked up big time with QPR. Although it always seemed good having the Mittals at the club and them being so rich, they are not exactly Roman or the Shiek at City are they? What happened to Amit? Remember, massive QPR fan complete with the scarf ...where is he now? All these owners seem to be vocal and 'true supporters' when the going is good and seem to disappear when things go wrong. Which by the way was their fault.
     
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  9. QPR999

    QPR999 Well-Known Member
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    #9
  10. QPR Oslo

    QPR Oslo Well-Known Member

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    Not me.
     
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  11. YorkshireHoopster

    YorkshireHoopster Well-Known Member

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    I would. There is more to supporting a football club than the number of Far eastern businessmen we can entertain and more to running football club than selling rip off merchandise to wealthy and gullible tourists. Your question assumes that most would congratulate the owners on gambling with our future if they had struck lucky. That was all it ever was. A massive gamble by someone who struck lucky once and believes himself to be a successful entrepreneur because that lucky strike was a copy of a business model run successfully by Stelios Hadjioannou.
     
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  12. ELLERS

    ELLERS Well-Known Member

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    #12
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  13. Sooperhoop

    Sooperhoop Well-Known Member

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    It says it all when some on here are congratulating the owners for only LOSING £11million and having a majority shareholder charging exorbitant interest on a loan that may be perpetual (shades of the infamous ABC loan). Let's all crack open the bubbly...<bubbly> :headbang:
     
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  14. seagullhoop

    seagullhoop Well-Known Member

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    ...still it's only money... anyone remember this?

     
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  15. NorwayRanger

    NorwayRanger Well-Known Member

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    Yes it's on the Golden Goals VHS in my attic. Must have watched it a thousand times, absolutely brilliant, love that goal!
     
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  16. Ciarrai_Abu

    Ciarrai_Abu Well-Known Member

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    My first footballing hero.
     
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  17. Bigchazqpr

    Bigchazqpr Active Member

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    my favourite goal
     
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