Just been reading the Sun's city page, Mr Mittal's steel company has posted a 34℅ rise in annual profits up nearly £6 billion & Mr Fernandes Tune company has purchased £1m worth of shares in an UK oil & gas company, great to see then doing so well
Even without FFP constraints, we can't expect the owners to keep throwing away good money after bad (and boy did they throw away good money).
As I said recently, our owners are minted but that doesn't mean they will throw it all at QPR. I think now we must all wait to see exactly what this FFP fine is or what will happen before we can move forward. However if it means that Hollow is still here for next season we are doomed.
TBH Sb I think the Mittals enjoyed all the Wembley and TV stuff but seem to have disappeared when the chips are down.
I take the reasonable points others have made about good money wasted but it is odd that £47m is 0.78% of Mittal's profit (just that posted profit, not his overall wealth). What else is he going to do with it? There are only so many mansions / luxury cars and goods! Go on Lakshmi, just pay the damn thing and let's move on!!
I am wondering how much influence the Mittals had when we hired hughes and redknapp,or whether this was a tf decision. It could be a reason why he has elected to have a smaller stake in QPR and be wary of putting money into something where is a profitable return in unlikely. Especially if we cannot get into the premiership.
It should also be noted that the Mittals suffered massive losses for several years due to the Chinese undercutting their steel prices by significant amounts. TBH they have been the epitome of 'sleeping partners'...
