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QPR woes continue as club fear £58million Financial Fair Play fine and the possibility of losing sta

Discussion in 'Queens Park Rangers' started by kiwiqpr, Mar 14, 2015.

  1. TWGWTDT

    TWGWTDT Well-Known Member

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    The clue there is his business is in Asia it grew in Asia at a rapid rate and good skills to him
     
    #21
  2. Bigchazqpr

    Bigchazqpr Active Member

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    Your moral argument is completely sound about money running football, i think fundamentally everyone agrees. What is particularly unusual about football though is that there are numerous cases of wealthy, successful men prepared to gamble, and lose, huge sums of money in a way they wouldn't contemplate in any of their other business dealings. In that respect it's possible, although I totally understand why anyone would be dubious, that TF et al might be prepared to write off 60 million quid. Especially if not writing off 60 mill will get them a 40 million fine anyway.
     
    #22
  3. sb_73

    sb_73 Well-Known Member

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    They have different (and more lenient) rules in the PL, though Citeh have been punished by UEFA, and they have much better accountants and lawyers.
     
    #23
  4. HammersmithBlue

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    This is the reality. He will be gone by 2016. He won't throw anymore good money after bad
     
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  5. loomo

    loomo Active Member

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    Honest question, what evidence do you have that this is not a real write off?
     
    #25
  6. LoopyR

    LoopyR Well-Known Member

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    it was because of 9/11 that costs to rent planes dropped by over 40% and there were many experienced airline people out of work. He bought an airline and 2 planes from the goverment by putting his house up as collateral, he was advised by a goverment friend. He was literally in the right place at the right time. His parents sent him to Epsom to study Accountancy so he even started with a silver spoon.
    Damn right his success as QPR chairman remains unseen, thats because its a bloody failure. Before Tango and Cash we had no money and no ambition, now we have money, ambition and Tony Fernandes....not sure which is worse.
     
    #26
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  7. LoopyR

    LoopyR Well-Known Member

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    Sorry dont agree. He is a gambler not a businessman. Mital et al will walk before he does.
     
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  8. Sooperhoop

    Sooperhoop Well-Known Member

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    I think some on here are under the impression the debts of the club are underwritten by the directors, but, as we will find out in future, as a limited company they won't be. TF has personally written off £60 million solely to avoid the massive penalties awaiting us on relegation, not through some strange version of football philanthropy.

    Looking at the accounts statement there are four directors/shareholders who, Bhatia aside (33%), are likely to be TF's backers, no-one knows the full breakdown of liabilities among that trio but I can't see any of them writing off the remaining £187 million of debt which will be rising dramatically when we go down.

    With the new stadium seemingly as far away now as it was four years ago and every likelihood that there will be years of wrangling if the project does get going I fear that if either Bhatia or the two TF backers lose their nerve we will make Portsmouth's demise look like pocket money.

    Anyone who cares about QPR should be deeply worried...
     
    #28
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