Looking On With Envy « The Scratching Shed For the last couple of seasons itâs been easy for Leeds United supporters to look on enviously as Queenâs Park Rangers embark on a new era of success. Whilst weâre burdened with Ken Bates, the highest ticket prices in the division and the spending power of a local pub team, a consortium of ridiculously rich individuals were buying up chunks of QPR. The thing with billionaires however, is that they seldom agree on much and it was a case of âtoo many cooksâ spoiling the caviar-laden broth at Loftus Road. But eventually, QPR found their way into the Premier League and as billionaire majority owner Bernie Ecclestone (of Formula One fame) decided heâd had enough, he sold his 66% share to the mega-rich owner of Air Asia â Tony Fernandes. In comparison to some of the other partial owners that have been spreading shares in Queenâs Park Rangers around like a sexually transmitted disease, Tony Fernandesâ can barely be considered wealthy with a fortune of just $470m. But fear not, Queenâs Park Rangers can always rely on Lakshmi Mittal â the Indian billionaire who owns the other 33% and has an estimated wealth of over $31bn. With QPRâs new majority owner comes the kind of news that would give Ken Bates nightmares â a refund for all those who have purchased season tickets for the current season. So how much were these poor fans paying for their season tickets that Fernandes took the unprecedented decision to offer a refund? Well, they started at £549. Thatâs the fifth highest season ticket price in the Premier League, but still comes in at £63 less than the cheapest season ticket at Elland Road! If a queue of ridiculously wealthy billionaires lining up to buy shares in Queenâs Park Rangers wasnât enough to make you feel a little queasy, Iâm sure season ticket refunds was enough to push you over the edge! After all, QPR fans already benefited from cheaper ticket prices than us, and theyâll be watching their team take on Manchester United, Arsenal and Chelsea this season whilst a day out at Upton Park is the highlight of our calendar. So why is it that these billionaires arenât queueing up to buy Leeds United? A club with unparalleled potential, an enormous fanbase stupid enough to pay Champions League prices for Championship football and a Chairman who has repeatedly claimed heâs open to investment? Aside from the mysterious ownership situation of our stadium and training facilities, plus the unenviable inconvenience of having to work with Ken Bates, I can only assume the biggest stalling point is Batesâ valuation of the club. Ecclestone parted with his 66% share of Premier League QPR for £35m which makes the total value of the club around £52.5m. Does anyone believe Bates would sell Championship, asset-less Leeds United for much less? © 2011, The Scratching Shed. All rights reserved.
