QPR: We've got it badly wrong, admits Les Ferdinand Queens Park Rangers director of football Les Ferdinand says the relegated Premier League club have "got it badly wrong". The Hoops are also battling a potential 'Financial Fair Play' fine from the Football League of up to £58m. Ferdinand believes the team suffered from buying pricey imports - and that it must now develop its youth players. "Unfortunately we got it badly wrong," he said. "But the intention to do it right was what it was all about." Disastrous recruitment policy Ferdinand insists QPR must instigate a change of policy after spending heavily to find success in the Premier League, which backfired. "Certainly there was a lot of money thrown at it in the wrong direction and we're suffering the consequences right now," he admitted to BBC Radio 5 live. "We've found ourselves in this situation now and we need to regroup and realise what this club is and where it is and the best way forward for this club in everything we do. "Realistically we can't afford to go out and pay £20m, £30m, £15m on players. We have to start regrouping and producing a crop of players who can play for this club." Financial situation QPR have begun legal proceedings against the Football League, and say they are challenging "the legality of the Championship Financial Fair Play rules". The west London club are alleged to have spent more on salaries than rules allowed when they were in the Championship two seasons ago. QPR revealed a £9.8m loss in March, but £60m of loans were written off by owner Tony Fernandes and other shareholders, which could be ruled to be against the Football League's Financial Fair Play rules. Ferdinand said: "It's difficult for me to comment on the fine at the moment. The situation is we've gone down to the Championship and we have to cut our cloth accordingly." Best way forward this summer On the future of manager Chris Ramsey, Ferdinand said the club would have to wait until the end of the season - and "obviously the FFP report will have a lot to do with where we go and what we're able to do". He added: "QPR have always been a family club. It's a club that's bought players in, maybe from the lower divisions and not always sold them on for bigger money. "We've gone away from that. I wouldn't say we've bought bigger players, but we've attracted players that command high salaries and we haven't had much return from that. "If you look at our development squad, the youth team, we haven't had someone come through that and play for the first team on a consistent basis for 16 years now and that's unheard of for a club like QPR."
Change for the better can only come once errors have been recognised. 'I am an a alcoholic'. Difficult words to say but essential for any progress to recovery. We need to hear them all say what Les admits here.
Interesting to note TF's comment on Ramsey which suggests if we are hammered by the Football League he's likely to stay as manager, as I pointed out weeks ago he is the cheap and cheerful choice. This would also suggest if we get away with it another big name manager will be brought in, there is clearly no proper plan in place and another summer where we bumble along could leave us in a mess at the start of next season. I think Ramsey will be given the job as the legal eagles never do anything quickly, it's not in THEIR interests...
Interesting snippet in the Mail on Sunday Sport today, which reports that in return for the FL agreeing QPR will be in the Championship next season, Tony Fernandes has agreed to enter into the binding arbitration process.So that's the outcome of the negotiations with the FL. I hadn't realised before, that the two were connected. This avoids lengthy court proceedings, and may (depending on the wording) avoid lengthy appeals. There may also be a date set for the arbitration hearing, to give QPR maximum time after any ruling to sort the new squad out. It now seems likely to be all about money, and hopefully, precludes transfer embargoes. That is down to the arbitration panel, but off the top of my head, I would have thought they would be more comfortable in merely setting the quantum of any fine.
I think that's right. Looks like Tony and his backers may have to take another hit, penance for earlier, well documented misdemeanours. I'm hoping the arbitration will take place soon, so pre-season preparation is affected as little as possible. If CR is confirmed as manager and transfer embargoes are off the table, he'll be able to crack on with restructuring the squad, although his war chest is likely to be the piggy bank Tony keeps on his bedroom chest of drawers for loose change
QPR owner Tony Fernandes must implement austerity measures with £58m Football League fine approaching please log in to view this image Tony Fernandes faces a financial headache if QPR's court case fails. (Source: Getty) Relegation is always a testing experience for any football club, but for Queens Park Rangers this season the drop comes with more uncertainty than usual. QPR are facing the prospect of a massive £58m fine from the Football League as their financial performance is deemed to be in breach of the league's financial fair play (FFP) rules. To make palms at Loftus Road even clammier, the Football League's chief executive Shaun Harvey has refused to rule out the possibility that the club could be booted out of the competition and relegated to the conference if they refuse to pay. Tony Fernandes, the amicable owner who is also the chief executive of Air Asia, is challenging the legality of the fine with an independent arbitration panel. The issue centres around the club's losses for the 2013/14 season, which exceeded the permitted £8m loss. QPR declared a £9m operating loss, yet for the Football League that figure is somewhat skewed by a £60m write-off of shareholder loans. QPR’s £58m row to be decided by legal challenge please log in to view this image QPR managed to scrape promotion via playoffs, yet in financial terms their £69.7m loss made them the league's worst performer by some distance. The club's £75m wage bill for the season was higher than Champions League heavyweights such as Borussia Dortmund and Atletico Madrid, representing an unsustainable 195 per cent of turnover. Despite playing in the second tier that season, the club's wage bill was still the ninth highest in the country - the only clubs to have spent more on wages currently occupy the Premier League's top eight. No one can accuse Tony Fernandes of being an unenthusiastic owner - his willingness to engage with fans and sign off on cheques for his manager certainly marks a contrast with some of the more despised Premier League proprietors. Yet when unhindered paternal love includes a bottomless trust fund, cherished children can often grow into dependent spoilt brats. Since Fernandes' arrival in August 2011, QPR's managers have been allowed to buy big and sell small. please log in to view this image Since Fernandes took over in West London the Hoops have spent just short of £120m - more than stable Premier League clubs such as Everton, Swansea, West Bromwich Albion and Stoke City. As two relegations would suggest, that money hasn't been spent wisely nor effectively. Christopher Samba, signed for £12m on wages of roughly £100,000 a week only to be sold back to Anzhi Makhachkala after 10 appearances, is known as one of the club's more extravagant purchases yet at least the club made (most of) their money back on the big defender. The same can't be said of Stephane Mbia (bought for £5m, sold for nothing), Samba Diakite (cost £3.52m but has only made 25 appearances in three seasons) or Djibril Cisse (bought for £4.4m, sold for nothing). Read more: Ramsey blasts deserters as QPR surrender to relegation please log in to view this image Will QPR's situation be worsened by a £58m fine? The club will argue that since the Football League has since made its rules more lenient, it would be unjust for them to be punished retrospectively. Yet even if Fernandes and co wrangle their way out of the fine, the above graph makes it abundantly clear that the Football League's aim of "encouraging responsible spending" and "protecting long-term viability and sustainability" through its FFP regulations have not been met. Nine senior players will be out of contract this summer, while many stars will look to engineer a move back to the Premier League club. That may not be such a bad thing. QPR's relegation was confirmed two days after a majority Tory government was elected to parliament on the promise of austerity measures to turn the country around. After years of free-spending, it may be time for QPR to take after the country's political landscape and start cutting back at Loftus Road. http://www.cityam.com/215764/qpr-ow...t-austerity-measures-58m-football-league-fine
