QPR would cope with relegation â Bhatia Big-spending QPR would cope financially if they are unable to stay in the Premier League this season, Amit Bhatia has insisted. The Tony Fernandes-led takeover at Loftus Road resulted in significant investment in new players before the transfer deadline â and added to the clubâs already swelled wage bill. With the likes of Joey Barton and Shaun Wright-Phillips having made an immediate impact â as demonstrated in Saturdayâs 3-0 win at Wolves â Rangers now appear capable of comfortably avoiding the drop. But QPR Holdings vice-chairman Bhatia, who describes the club as âdebt-freeâ, says the new-look regime first discussed what would happen in the event of relegation before deciding to spend. âThe signings weâve made mean we have every chance of staying up but of course we had to think about the alternative in case that did not happen,â Bhatia told West London Sport. âFor example, in some cases we have relegation clauses in the playersâ contracts. In others we were not able to do so but Iâve spoken to Tony about this and weâre both happy.â QPRâs accounts showed heavy annual losses throughout Flavio Briatore and Bernie Ecclestoneâs four years as co-owners, during which a number of directorsâ loans financed spending on and off the pitch. An even worse situation developed during the Chris Wright era, when similar funding failed to deliver success and Rangers ended up in administration with Wright as their main creditor. Bhatia says there is no question of a similar scenario developing under the current owners. He said: âLetâs be clear, previously directors provided loans and those debts no longer exist. They have been wiped out. In fact I would go so far as to describe the club as being debt-free. âCash is now being provided by the owners with no burden being placed upon the club and we felt that was the best way. âThe main thing is that weâve brought stability to QPR, which was badly needed. It gives us a chance to achieve what we all want for the club.â iReader http://www.westlondonsport.com/qpr/qpr-would-cope-with-relegation-bhatia/
morning northolt good read, loans gone debt free thats great news & best news stability!, relegation don't even want to think about that.
It's like living in a dream world with dancing pixies and singing woodland creatures - best perfomances, manager, players and board in years. All in unity. It's too good - I expect to wake up, it's Monday morning and meet the news that Flav has just hired his 5th manager this month in a bid to avoid the drop to the Blue Square Southern division.
I love Bhatia, what a great guy and what a thoroughly reassuring piece. He just seems to have the ability to get straight to the heart of the matter, and to deal with the fans concerns head-on. "QPR are debt free" - How good does that sound in these harsh douple-dip recession times, eh? Happy days indeed.
That's re-assuring. I'm sure we also have plenty of contracts expiring at the end of this season which will lighten the wage bill anyway.
I would like to see the balance sheet to confirm debt-free status, just to ease my mind; would hate to see the bailiffs rounding up those pixies and fairies and chopping down the trees......
Who's Oddball? News of my shrunken left teste can't have travelled THAT fast.... I kind of agree with Twins' caution but Amit has always been so consistent in his message that I find it very difficult not to take him at face value.
