August 2011 QPR was a debt free premiership club. New owners say the club will be run as a business, with developing youth, new training facilities and a new stadium key objectives.
March 2015 QPR is a heavily indebted premiership club, losing c £70m a year and facing a large fine essentially because of reckless financial decisions by the owners. Plus 3 years of largely crap football, intermittent humiliation and embarrassment. Hints of a training ground, new stadium tied into a mega development, many many years away if it works. New manager starts to play some kids.
Now the owners have decided, Cameron/Osbourne like, that it's time for 'austerity'. Their call, they own everything.
Doesn't matter whether we like them or not, we are entirely dependent on their continued goodwill/interest. Even if they write off the entire amount they have lent the club, it will still run at a loss and be a very unattractive proposition for anyone else. And before we have the traditional 'Mittal will save us' line, what evidence is there for that? Bhatia is off doing his playboy stuff. What's keeping them interested? I think there is still some yearning to be attached to a somehow successful team, but obviously more about the lure of building a housing development.
Fernandes and his partners seem nice blokes, I have no idea why their business sense has deserted them so completely when it comes to football, I think the approach was well intentioned, but they have ****ed up the club, already a bit of a fiasco anyway, totally.
We'll plod on like this while Old Oak Common is still live. If we get to build there these blokes will stick around. I don't know whether, ultimately, that will be good or bad for the club.
If we lose out on Old Oak what are their options?
- stick around but stop bankrolling the club (I think we are nearing this mode already)
- get out, writing the loans off
- get out, try to get some cash back - sell any players they can.....and the stadium?
- get out, making the club bankrupt as they go
I don't know. I find it hard to dislike Tony. He and the owners have been badly let down by 'football people', but Swords is right, their competence has to be questioned.
Abstaining in the vote.