please log in to view this image Andy Hodgson 06 March 2013 Queens Park Rangers lost £22.6million during their first season back in the Premier League, it was announced today. Although that figure, published in the accounts for QPR Holdings Limited, was £3m down on their final season in the Championship, turnover soared from £16m to £64m. Debt has increased from £56m to £89m. The deficit for the 2011-12 season was in part due to spending £25m on new players and the club face another big loss this season having splashed out more than £30m on signings in the last two transfer windows. In both cases the large outlay was down to the clubâs eagerness to maintain their top-flight status. Last term they brought in Djibril Cisse and Bobby Zamora for £4m each in the January window while this winter Christopher Samba (£12m) and Loic Remy (£8m) arrived at the Premier Leagueâs bottom club. The accounts for 2011-12 showed the huge gulf between life in the Premier League and the Championship. QPRâs wage bill â covering all employees ranging from players to administrative staff â almost doubled from £26m to £51m. Ticket revenue per game has also risen from £232,000 to £405,000. The accounts cover Tony Fernandesâs first as chairman. In his statement with the accounts he said: âWhen, alongside my business partners, I purchased a majority shareholding in the club in August 2011 my goal was to turn QPR into an established Premier League club. âThis remains my focus and I continue to work closely with Amit Bhatia and other shareholders to make this a reality. âUnder the guidance of our new manager, Harry Redknapp, we are hopeful that the club will secure their Premier League status going forward. âWe are confident that the 2012-13 season will also see the club continue to make progress towards achieving their short, medium and long-term off-pitch targets.â Fernandes added that the club â who are four points from safety in the Premier League with 10 games to go â are continuing to look for a site for a larger stadium. http://www.standard.co.uk/sport/football/qpr-suffer-22m-loss-on-return-to-the-premier-league-8523026.html Sorry if already posted but couldn't see that anyone had picked up on this. Is this good/bad considering the overhauls we've been through during our first season in the Prem?
Doesn't seem too much but the £96M debt would be a bit of a concern to me. TF and Co says all is fine and i believe what they say however we need to try and reduce debt and live 'within our means'. New stadium is a must as soon as we can as that will help reduce debt once it's paid for.
Lighten up mate its only a joke. I'll be Johnny Fartpants if it makes you feel better. Thanks for posting this, I'm surprised it hasn't got more attention. Obviously what we are doing at the moment isn't sustainable for long, and the figures will look worse next time, because of the summer and winter transfer window spending. But the fact that revenue has risen faster than debt is at least a little reassuring. Mid - long term I can see it balancing out with: - continued prem status (err...) - new stadium match day and other revenues - a youth system which reduces transfers in and enables some transfers out so we can try and balance the transfer activity - plenty of bob a job weeks
That's it I wish to fight Secret Ranger for charity I also will make the claim that I will only need two punches during the contest I also think he won't land one either I am still quick boy Xxxx
It shows the club as being in BIG debt is what it shows. Until now I wasn't quite sure the extent to which the owners were investing in the club's future by absorbing the costs of transfers and wages. Without its own revenue in place it had to have been down to directors' loans which is still a / THE debt on the club. The suggestion is that this debt is or will be underwritten by those same shareholders - meaning if the club goes bust the debts will be written off as misadventure. At least I hope that's what it means in this case. If not, we R Pompey in disguise. Look out Plymouth, here we come!!!
OK, let's get this into perspective. From the little I've read in general..........what about Liverpool, 87 million, Man U somewhere around 333 million or is it closer to 1 billion of debt. Really make us look like small fry at 22 million or am I missing something?
There is at least an additional £20m paid to even the bottom club under the new TV rights deal so you can see how the Business model could start to work for smaller prem clubs like us.
