Dunga threatens Queens Park Rangers with legal action in dispute over £750k loan Dunga, the former Brazil manager, is threatening legal action against Queens Park Rangers over £750,000 of loans he claims he is owed. breaches of FA regulations over the £3.5 million transfer in 2009 of Alejandro FaurlÃn from the Argentine side Instituto after voluntarily alerting the Football League to a potential violation of third-party ownership rules . Now Dunga, manager of Brazil in last summerâs World Cup, has added to the clubâs concerns by instructing his legal team to institute proceedings against QPR Holdings, the company which owns the club, in an attempt to recover two loans â one of £250,000 and another of £500,000 â made four years ago, while he was a director at Loftus Road. Under the terms of the loans â which accrued annual interest at 7.5 per cent and are due this month â Dunga claims he is now owed almost £1.1 million. Withers, acting for QPR Holdings, acknowledges that its client admits receipt of loans to that value but that it cannot ascertain the source of those funds. Even if it is proven that Dunga did contribute the loan, Withers argues, his right to the return of the money was waived when Antonio Caliendo, the clubâs former majority shareholder, agreed to the takeover deal which led to the 2007 arrival of Flavio Briatore, Bernie Ecclestone and Lakshmi Mittal at Loftus Road. They say Caliendo signed a power of attorney permitting Eric Steele, QPR Holdingsâ lawyer, power of attorney to act on his behalf and that Dungaâs dispute, if anything, should be with Caliendo. The Italian super-agent, however, insists he did not authorise Steele to accept such a proposal. Caliendo last year wrote to the FA requesting an investigation into whether Briatoreâs and Ecclestoneâs takeover was conducted in a âproper, legal and transparent mannerâ. It is believed he this week wrote to QPR once again demanding £2 million he believes he is still owed. http://www.telegraph.co.uk/sport/foo...750k-loan.html
Another article states that the club's overspend/losses are the subject of interest-free loans, that's £30 million+ during the past two seasons, the bottom line is we are very vulnerable if the Goons decide to walk away and cash in their IOUs. Caliendo has been making noises for a couple of years and now Dunga, how many more are going to put in claims as well? The whole situation is hardly conducive to any potential purchase by someone who is squeaky-clean. Very worrying...
i wonder if i've got a case for compensation regarding my state of mind?..they (the goons) spoilt the promotion with the points deduction debacle and have stressed me out completely this summer with lack of signings,ticket prices and Bhatia leaving..
GUARDIAN QPR takeover talks continue as Dunga takes legal action over debt • Malaysian businessman Tony Fernandes hopes to close deal • Former Brazil captain claims he is owed £750,000 by the club * Dominic Fifield * guardian.co.uk, Sunday 14 August 2011 20.55 BST Talks between Tony Fernandes and Bernie Ecclestone will continue on Monday over the Malaysian businessman's prospective takeover of Queens Park Rangers. The Air Asia and Team Lotus owner, who was at Loftus Road to witness Saturday's 4-0 defeat to Bolton Wanderers, is hoping to conclude a deal to buy the newly promoted club in partnership with the major shareholder, Lakshmi Mittal. The Indian steel magnate owns a 33% stake in QPR, with the pair attempting to buy out Ecclestone's 66% shareholding in the Premier League club. The former Brazil manager Dunga has instructed lawyers to recover a £750,000 loan he claims he made to QPR in 2006 when the club was under previous ownership. "I loaned my money to QPR in good faith when they needed it and I am very disappointed that the new owners, who are very wealthy, are now refusing to pay it back. I am fully confident in the English system of justice and that the court will help me recover my loans," said the Brazilian. QPR would not comment. http://www.guardian.co.uk/football/2011/....rnie-ecclestone
At last some sense is being talked on this board. So if Fernandes comes in and buys the club has anyone thought to ask why he wants to buy a heavily indebted football club? If the guy wants excitement and drama, surely there's enough of that in Formula 1? If the guy wants to make a fast buck, surely the Ecclestone's, Briatore's, Paladini's have seen to that and there is little left to be made? Either which way the costs of supporting QPR are going to increase every year for the foreseeable future. I'm not a big fan of Rangers, but know quite a few supporters, but none of them like what has been happening to the finances at the club.
