http://www.westlondonsport.com/features-comment/qpr-owners-stay-committed-because-their-eyes-are-on-the-prize please log in to view this image 17/04/2013 By David McIntyre There has been plenty of speculation about QPRâs finances and how the clubâs owners will respond to relegation. Itâs become trendy to suggest Rangers might âdo a Portsmouthâ â a grim picture painted with some relish by Tony Fernandesâ detractors. This misses the point, as does basking in the warm glow of assurances about his long-term commitment whenever such platitudes are trotted out. Both sides are failing to see the bigger picture. Be in no doubt that Rangersâ owners will remain absolutely committed to their project and have no intention of walking away, regardless of which division the team are in. Because, although relegation is an obvious major setback, when it comes to the regimeâs long-term ambitions, the importance of which division Rangers are in next season is easily overstated. Notice that whenever the likes of Fernandes and Philip Beard restate the shareholdersâ commitment they almost always mention a new stadium in the next breath. Thatâs no accident. Fernandes is presented with a PR open goal when he can heroically reaffirm his commitment to the cause in the face of relegation â because itâs the pursuit of a new sports and entertainment venue, not whether Rangers stay in the top flight, that locks the owners in for the long haul. Any hitch there would be much more significant than relegation â a potential game changer. But, Crossrail permitting, such a hitch looks increasingly unlikely. A new sport and leisure complex in the west/north-west London area could generate an absolute fortune â more than enough to dwarf even the huge losses incurred by Rangersâ feckless spending. It would be comparable to the regeneration of areas of east London and so would the subsequent wealth to spring from it. It would also establish QPRâs Malaysian shareholders as major players in London â one of the most prominent cities in the world. Itâs why Beard, a man with little football knowledge or understanding of QPR fansâ priorities, but with a background in branding and having helped establish the O2 Arena as a leading entertainment destination, was installed as chief executive. And itâs why Fernandes appears so calm and committed despite ill-informed assumptions that the clubâs owners canât sustain the current level of spending. They can sustain it. And they will sustain it while thereâs a potential pot of gold in sight. Much has been lost, but thereâs still an awful lot to be gained. So, fully committed? Absolutely. In it for the long haul? Too right. A £15m loan secured against the clubâs assets last month looks suspicious and will inevitably be taken as a sign of financial stress and the commitment of the regime possibly wavering. Again, this move has been made largely with the new stadium in mind. It is a strategic move by Fernandes and chums to test a relationship with lenders Barclays Hong Kong â a growing relationship which has existed for some time and could be called upon in future years if, despite their collective wealth, Rangersâ owners are not keen to fund the entire cost of a new stadium and training ground. QPR plan to repay it quickly, possibly within three or four months. In securing such a loan while facing relegation from the Premier League, and in a climate in which banks are reluctant to loan money to football clubs, Rangers have established that, going forward, they wonât have problems getting access to cash. Of course, âdoing a Portsmouthâ canât be ruled out. No amount of money is finite, losses cannot be permanently sustainable, loans secured against the clubâs assets are never something to savour, and failing to get back into the top flight would be problematic. So too would relegation from the Championship which, although an outcome Fernandesâ army of believers probably wonât contemplate, is entirely possible given the shambles he continues to preside over. But the regimeâs pockets are deep and their eyes are on the prize. So although a Pompey-style meltdown could happen, as things stand the club is more likely to end up spiritually rather than financially ruined. Many dismiss Fernandesâ vision of a 40,000-capacity stadium as a bizarre and misguided pipe dream, given QPRâs relatively modest fan base. They fail to understand the scope of his rebranding project, which is every bit as radical as Flavio Briatoreâs despite the more touchy feely style. Football, QPR and the London landscape are changing rapidly and over the next few years are likely to change even more. A state-of-the-art stadium and leisure complex in an overhauled area of west/north-west London, which is home to high-profile players from parts of the world where the Premier League (which Rangers hope to be back in by then) is massive, would be a huge attraction â and extremely profitable. It would also mean the end of QPR as we know it, which for some will equate to a Wimbledon-style killing of their club and for others will be necessary progress given Rangersâ limited growth potential while they remain at Loftus Road. Either way, itâs a project Fernandes and co remain determined to press ahead with.
I've been quick to criticize journalists before, but thats about the most coherent overview of what is really going on and why that I have read. Nice work. And his penultimate paragraph is spot on too. Many of us won't like what a successful outcome actually means for this club. Think I will though.
"A £15m loan secured against the club’s assets last month looks suspicious and will inevitably be taken as a sign of financial stress and the commitment of the regime possibly wavering. QPR plan to repay it quickly, possibly within three or four months."
An awful lot of wishful thinking in there. Is he a QPR fan? The most outstanding piece of rubbish is "A new sport and leisure complex in the west/north-west London area could generate an absolute fortune" like Coventry predicted? Where is this fortune coming from, 2 or 3 concerts in the summer? And comparing it to Olympic Stadium is just ridiculous and laughable....and that's been leased anyway. poor poor article with very little fact. Lap it up though boys.
Actually this loan shows that QPR are in a string position. A bank would not lend money to a club on the verge of relegation if it did not have faith in the Shareholders.
This is exactly what Chelsea have wanted to create, but can't as they remain shackled to Stamford Bridge! If the Rs get in there first Chelsea will not be able to follow. They may well eventually get things sorted out and be able to build a shiny new stadium, but the rest will already have been swallowed up. They may have the finance of Abramovich, but they will certainly not get planning permission if a similar "Sports & Leisure complex" already exists'has planning permission fairly close. The stadium is only one part of a sport and leisure complex. And as for "2 or 3 concerts during the summer", well you'll just have to wait and see. Phil Beard knows this market like the back of his hand and our investors will have done their homework. I can't see them throwing money into this for just "2 or 3 concerts".
Thank **** for the hiccup IMO we could have turned out like Chelsea. Seriously now the official London club for Shepeople ... Met a few plastics on the Overground on the way to Wigan ... I was reminded of Zombies ... have you ever considered how ridiculous Chelsea Football Club have now become to the average football fan on the street? > QPR will grow big, how big who knows but it will be with our soul intact ... Can Chelsea say the same? ... give it another five years your average Chelsea fan's brain will turn to mush ... just groans like a scene from dawn of the dead. Keep coming back for brain training CP (always welcome IMO) it will help you in the long run fight what could be equated to Parkinson's disease.
I think you'll find the concerts will be going on all year round, 2-3 in the summer won't cut it. It's to be a multi purpose stadium, the last time fernandes perked up with comments regarding the stadium last summer, there were rumours that it will have a retractable roof, which if turns out to be true, I'd imagine that we may also see a return to some form of artificial pitch. This means we could play a match on a Saturday, and a concert could be held on a Monday, and back to football on the following weekend. The only thing that could scupper our plans for the stadium is any standing rules by which sky are allowed to reschedule games??? If our stadium is due to be used for a concert or event, can sky demand a date change? Or is it purely down to whether we are able to play on a particular date? Anyway, this just shows that things are far from doom and gloom at the club and a new stadium will help us be stronger in the future.
He is the most negative QPR reporter there is. Its the nailed on truth if he says something positive. Who wants to do business in coventry? anyway the ground isnt even owned by coventry so it would have been the council getting the money from the business, not the club.
Interesting that a reference to Crossrail was 'snuck' in to the article. Would this be referring to the Crossrail 2 proposals (used to alleviate overcrowding on London rail networks - and linking mainline stations - what a great idea if you want to get fans to a venue easily!!). Sounds like there has been a great deal of thinking going on here as plans that fit in with the Chelsea-Hackney line will be a giant coup for the location of a new stadium.
In my experience, Mac doesn't write about the Rs till he's gathered and processed the facts. Sure there's some obvious speculation in this article but this author's not known to wander too wide of the mark. From what he's saying here, looks like exploiting the global potential of a west London football club is the owner's main purpose. The football (when we start to play some) is secondary at best.
