They liquidate the club if they walk away, the club is insolvent at the moment, we've probably got25m worth of players and the ground is worth 25m so they could get 50m back. They'd still lose 125m though so would be better off getting the new ground, I hope people can see how important is is now. Stay at LR and there will be no QPR.
I saw the headlines some time earlier, and have just been reading everyone's posts. Frankly I'm amazed at the 'calm' responses of our regular posters (calm is a measured response). I was expecting blood on the streets leading to Loftus Road. The figures are staggering, and show nothing more than mis-management of a football club. However, I already had the same opinion as Mr McIntyre, that this is so much more than football, and as much about the development of the new Canary Wharf and the profits available through prime property prices. I hope we still survive through all that. I am not convinced anymore that promotion is the sacred cow everyone thinks. I stick to my opinion that this summer is one of the most important in our history!
I understand that the new ground complex could be our saviour and get the owners their profit, but I do wonder whether they are up to making it happen? Hope I'm wrong!
I have always supported TF but if you take a step back and look in from the outside we have been awful both on and off the pitch since he took over. The appointment of 2 really poor Managers and buying over rated and significantly over paid players for starters. I am very quickly loosing faith and due to the awful football on show this season starting not to worry if I can't make games, for the first time ever, and I have been a season ticket holder for 10 years now.
TF and co brought into our club the best set of players I have known Worst teams for sure I am with you 100% that it would be great to have a young team but was never going to happen We went for a quick fix aka Man City lost our reputation and ID and I am in no doubt we will do it all again Very easy to see what the price is IMO to get to where we mostly what to go Been harping on about it myself since I joined here The key parts of a modern football club are clear to see in 2014 We need a smart youth policy We need a new stadium We need a new ID We need to eat at the top table We need 25,000 new fans All of which are there for us to have Money won't stop us TF goes then a new man will snap it up ... London is set to become bigger and better in our lifetimes We are lucky as **** to be in this position because of geography mainly The focus of football in the UK will not go away IMO and that means London and then after secondary cities in this grubby little island... the home of the game . We may not be the best but we sure as hell have the best city in the world and the centre of football We will be buying foreign players before home grown because they are better and play the modern game better I think that is time the top tier will have half if not more of its teams from London I don't say I like it all But the QPR we all knew is dead either way Love live the new QPR I say it's the better of the two evils IMO
Which is exactly McIntyre's position, though he gives the impression he doesn't hope he's wrong...... Digging a little deeper into the accounts it's somehow reassuring to see that the shareholders loans to the club are in direct proportion to their shareholdings - 66% TF and partners, 33% Mittal - it has not been that clear to me that Mittal has been that involved. Also, though its just a form of words, the independent auditors state that on the basis of cash flow predictions and, more importantly, undertakings of continued support from creditors the club is a 'going concern for the foreseeable future' according to the directors. It's no guarantee, but I don't think we're going tits up tomorrow. Surprised that we haven't been hit with a blitz of reassuring PR activity on this though - all the stuff in the papers is drawn directly from the accounts themselves and 'quotes' are pulled from Tony's introduction to them.
I generally start reading your posts with some trepidation and start scratching my head half way through. This one I enjoyed and certainly gives me some glimmer of hope. I'm sure these guys projected major losses with a longer term endgame in mind. Let's hope though we don't fall foul of FFP. Tony & co surely have a contingency plan for this.
These numbers are fecking awful. And realistically this does represent a threat to the long term future of our club. For that reason I was unhappy that Fernandes Bhatia and co didnât make a statement yesterday. However today: @tonyfernandes: Staement will come out once we have seen all press so we can answer. Club is fine weather we in premier or championship. support continues and @tonyfernandes: Qpr fans sleep easy. Uncle tony, amit din, ruban all around for a long long time. Journey continues. Let's focus on Birminghamshould have made a statement by now offering reassurance and reminding everyone they are in it for the long term:- training ground, stadium etc Have made me feel a bit better. The awful numbers and the scare mongering from the press, (i.e back page of the Standard that normally gives us no coverage, pops up with us on back page saying weâre going to get a record fine- content of the article gave no facts or figures) make it hard to put things in perspective. Two main things; our owners are ridiculously wealthy and they arenât in it for the money. Their main motivation for being involved isnât o make money, its to have fun. Our owners make their cash and more than you could imagie in realtively unexciting fields; airlines, ports, and steel. They go into football for the challenge, the status and in TFâs case the fame. Hopefully this summer we will finally do away with Arry, get scum like SWP out of club and finally begin building with the long term approach the owners claim they have. More sensible additions this summer of the Phillips and Austin type rather than the Krancjar and BAE type please
Fernandes has spoken about walking away from his F1 Caterham misadventure if he fails to gain success yet again this year. Could free up considerable cash to be splashed on QPR possibly? However poor the last few seasons Rangers are world beaters compared to Caterham F1.
Wow, that's not entirely negative about Fernandes, are you feeling ok? I reckon Caterham costs £70-80m a year to run, but that won't all come from Fernandes. The reason they are not competitive is that the 'big' teams spend up to £250m. When TF joined the circus he was 'promised' that they would bring in spending caps to level the playing field, and I think he is quietly furious that this hasn't happened (but its the equivalent of City and Chelsea giving up their financial advantage for Ferrari and Red Bull, bit naive to think it would happen). Those posts fron DT and Mr Damage have cheered me up, as have Tony's tweets. The pain is big, but the prize is bigger.
McIntyre whole existence is to write ... something ... it's a job in my view ... a real bollcocky one. Journalism in this country is nothing to be proud of IMO. They twist and turn and tell stories ... very rarely do i said a man or woman who has the craft of admitting they are or were wrong. I am usually wrong about QPR as I haven't learnt anything or I simply don't know the facts What i love about the internet, this forum is that wiser words are spoken on here and its all free
http://en.wikipedia.org/wiki/List_of_English_football_club_owners Assuning Mittal is no longer much involved TF's wealth isn't all that by Premier League standards. Ok, Palace is worse off and possibly Swansea (although I doubt it) but the other sums involved are staggering. Where's the money for the new stadium etc going to come from, Air Asia? http://www.slideshare.net/alishermamedov5/air-asia-finance
Mittal is providing cash in line with his 33% shareholding. I've been doubtful about his commitment, but am a little reassured. The stadium....pure speculation, but I'm guessing this will be part of a much bigger property development, and an entirely different consortium will be set up to deliver it, with our partners Stadium Capital Developments. Then we will get all mithered about who actually owns the stadium........... http://www.stadiumcapitalholdings.co.uk/
Club Statement on the Official Website: http://www.qpr.co.uk/news/article/070314-club-statement-1403668.aspx#YxJcB0MhwP4fPoOQ.99
That’s a pretty bold assumption what are you basing that on? Also its not just TF- you’ve got Ruben Gnanalingam and Kamarudin Meranun
You are correct, 66% of QPR are owned by "Tune QPR" not Fernandes and 33% by "Sea Dream Ltd". My apologies. "Ownership: 66% by Tune QPR, registered in Malaysia, owned by Tony Fernandes and partners Kamarudin Meranun and Ruben Gnanalingam. 33% by Sea Dream Ltd, family holding of Lakshmi Mittal" New Times Rwanda: http://www.newtimes.co.rw/news/views/article_print.php?15335&a=66176&icon=Print
According to Forbes Gnanalingam $750m Meranun $735m Fernandes $650m Mittal $16.7 bn All 2014. I don't think any of these blokes planned to be chucking their cash at the club like this, but as long as it doesn't go on forever they can afford it. With the exception of Mittal they are all getting much richer by the year as well.
Converted via google to Sterling that equates to: Gnanalingam 17 nectar points Meranun 3 books of green shield stamps Fernandes £2.50 off your next booking with easyJet Mittal £750 cash back from we buy any car.com
QPR: Chairman Tony Fernandes says promotion is 'not critical' please log in to view this image http://www.bbc.com/sport/0/football/26482087 QPR chairman Tony Fernandes says it is "not critical" for the club to win promotion back to the Premier League this season despite their £177.1m debt. Rangers, who are fourth in the Championship, lost £65.4m as they were relegated last season. "Achieving promotion this season is not critical to our long-term strategy, but remains our short-term goal," he said. "If we fail, the support is there and there is no need for any more advances to build a squad." He added: "We are now in a position where we can work with what we have, and raise capital to invest in the squad by selling players who are not part of the manager's plans." QPR finances 2012-13 â¢Overall loss: £65.4m (up from £22.6m in 2011-12 accounts) â¢Overall club debt: £177.1m (up from £91.4m) â¢Shareholder investment: £72.7m (up from 38.7m) â¢Turnover: £60.6m (down from £64m) â¢Transfer expenditure: £41.4m (up from £25m) â¢Salary bill: £68m (up from £51.3m) QPR's accounts revealed that in making last season's loss the Loftus Road outfit spent £41.1m in transfer fees, although it was not enough to keep them up. But Fernandes insisted that the bulk of the club's debt is owed to shareholders. Parent company QPR Holdings Limited received £72.7m in shareholder financing during the financial year 2012-13, while the company also took out a short-term bank loan of £15m. Shareholders had invested £38.7m in the previous financial year. "Every great endeavour needs support in the short term. Every business requires capital to get off the ground," he said in a statement on the club website. "It is important to understand that this debt is through shareholder loans. The debt in the club is owed to the shareholders by the shareholders." Despite the figures, Fernandes said he and his fellow shareholders are "fighters" who are "committed and here for the long term". "Relegation wasn't part of the plan and it has cost us financially and emotionally," he said. "We are all fully committed to QPR in the short, medium and long term and are 100% focused on delivering our vision for the club. "Promotion back to the Premier League is a major challenge, but one we are committed to." Malaysian businessman Fernandes, who also owns AirAsia and is team principal of the Caterham F1 team, took over QPR in August 2011. "When we bought this club there were no assets," Fernandes's statement added. "We had to build from the ground up. "Now we have great assets and we are in a position where we can use this asset base to develop our squad, without the need to invest new capital." Following relegation last summer, QPR have been active in reducing their wage bill by off-loading several high earners on loan, while also selling players such as defender Christopher Samba. Rangers trail leaders Leicester by 17 points and are nine points adrift of Burnley, who currently occupy the other automatic promotion place. And should they fail to go up, similar losses in QPR's accounts for this season will see the west London club subject to sanctions from the Football League under Financial Fair Play (FFP) rules, which permit an £8m loss, £5m of which can be covered by shareholders. Any team remaining in the second tier that falls foul of FFP rules will be subject to a transfer embargo until they can prove their financial results are in line with the regulations, while a team promoted to the top flight will be subject to a fine, which is operated on a sliding scale. The manager's view please log in to view this image QPR boss Harry Redknapp, speaking at his pre-match news conference on Friday, said: "The financial figures are from last year - but I'm not in a position to answer questions on them. "I'm not involved with the finances, I look after the football side of the club. "One thing that is for sure is that the owners are committed. We're still focused on promotion to the Premier League "It doesn't alter my position at the club."
Typical redknapp, its not his fault according to him, he may well be right about those accounts but its got worse under him but hopefully he won't be around in a years time to blame someone else for them, Hiztelspirgers agent came to us to try and get his client a transfer, we asked how much he wanted, the reply was £5m (meaning the player) and we replied asking how much the player wanted and were willing to give £5m to the agent! Beard should be fired, he's utterly clueless and knows nothing about football, we are a laughing stock.
