| QPR Accounts... on 18:06 - Mar 6 with 3118 views | nadera78 |
| QPR Accounts... on 17:43 - Mar 6 by daveB |
new stadium is years away though and a gold mine for Fernandes and co so I'd be surprised if they pull out this early. |
That's the thing. They've got a couple of billion reasons to stick around long term, given the scale of the development they have planned. QPR is important in so much as it provides a focal point and a bargaining tool in that development getting off the ground, as well as some welcome public support and enthusiasm from the fans.
I'd be surprised if they walked away, now or into the future. They've got their eyes on a pot of gold. |  | |  |
| QPR Accounts... on 18:08 - Mar 6 with 3111 views | Clive_Anderson |
| QPR Accounts... on 18:06 - Mar 6 by nadera78 |
That's the thing. They've got a couple of billion reasons to stick around long term, given the scale of the development they have planned. QPR is important in so much as it provides a focal point and a bargaining tool in that development getting off the ground, as well as some welcome public support and enthusiasm from the fans.
I'd be surprised if they walked away, now or into the future. They've got their eyes on a pot of gold. |
Depends if the pot of gold is worth multiple times £177m or not. | | | |
| QPR Accounts... on 18:09 - Mar 6 with 3113 views | danehoop |
| QPR Accounts... on 18:08 - Mar 6 by Clive_Anderson |
Depends if the pot of gold is worth multiple times £177m or not. |
The property deal may well be, if we hit the premier league in the next season or so, it should largely cover the cash flow issues until then. I guess that is the plan at least. |  |
| Never knowingly understood |
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| QPR Accounts... on 18:25 - Mar 6 with 3078 views | nadera78 |
| QPR Accounts... on 18:08 - Mar 6 by Clive_Anderson |
Depends if the pot of gold is worth multiple times £177m or not. |
25,000 residential units, leisure facilities, commercial units, football stadium indoor arena. There's a hel of a lot of money at stake from the 200 acres at Old Oak. Just the residential units alone would be worth billions. | | | |
| QPR Accounts... on 18:30 - Mar 6 with 3067 views | baz_qpr |
Tony Fernandez $600m
Kamarudin Meranun $735m
Ruben Gnanalingam son of G Family wealth $750m
Thats 2/3rds of the owners
The mittal family who own the other 33% $16bn
The net combined worth of our owners is $18bn
Our loss is less than 0.5% of their net wealth, and their eyes are firmly on a billion dollar property development in London.
Panic over? |  | | |
| QPR Accounts... on 18:40 - Mar 6 with 3037 views | Gloucs_R |
| QPR Accounts... on 18:30 - Mar 6 by baz_qpr |
Tony Fernandez $600m
Kamarudin Meranun $735m
Ruben Gnanalingam son of G Family wealth $750m
Thats 2/3rds of the owners
The mittal family who own the other 33% $16bn
The net combined worth of our owners is $18bn
Our loss is less than 0.5% of their net wealth, and their eyes are firmly on a billion dollar property development in London.
Panic over? |
Not panicking about our future. I dont think thats in question. Its more a case of "how fking stupid" to get it so badly wrong. |  |
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| QPR Accounts... on 19:04 - Mar 6 with 2982 views | Billy_Kershaw |
| QPR Accounts... on 13:18 - Mar 6 by paulparker |
it maybe be me and possibly Spirit of Gregory but TF is getting out of his depth and is not inspiring a lot of confidence
having read Arry & Warnocks books the overwhelming feature is that TF is a pushover who cannot say no and wants to be mates with the players etc
there is a lot to be worried about as Tones track record is not very good
bad managerial choices, bad signings, letting Kia Korbachin spread his cancer, etc , etc
TF has gambled all along on this new stadium & development and needs us to be in the premier league to fill it and start getting his investment back
I hope Im wrong but this is going to end in tears and bucket collections again |
You're gonna need a bigger bucket...  |  |
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| QPR Accounts... on 19:33 - Mar 6 with 2931 views | Neil_SI |
I'm pleased that some people have started to wake up and smell the coffee, we're in more debt than even these accounts describe. They are last years for 2012/13, and we've sustained further losses since and continue to at an alarming rate.
The fans are the only constant at QPR. We're here forever, for better or worse, but players, managers and owners come and go. A sensible board who care about the club and its interests first would never have put its future in such jeopardy.
Responsible owners create everlasting foundations, which includes ensuring the club is in the best state possible for when it's their time to pass the baton on. One way or another that day will eventually come, but I don't think it's even crossed their mind how they're supposed to behave or what they're supposed to do.
It's not sustainable if they carry on in this vein. The way the club has been run is a joke and an absolute disgrace. [Post edited 6 Mar 2014 19:33]
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| QPR Accounts... on 20:17 - Mar 6 with 2844 views | Hunterhoop |
| QPR Accounts... on 19:33 - Mar 6 by Neil_SI |
I'm pleased that some people have started to wake up and smell the coffee, we're in more debt than even these accounts describe. They are last years for 2012/13, and we've sustained further losses since and continue to at an alarming rate.
The fans are the only constant at QPR. We're here forever, for better or worse, but players, managers and owners come and go. A sensible board who care about the club and its interests first would never have put its future in such jeopardy.
Responsible owners create everlasting foundations, which includes ensuring the club is in the best state possible for when it's their time to pass the baton on. One way or another that day will eventually come, but I don't think it's even crossed their mind how they're supposed to behave or what they're supposed to do.
It's not sustainable if they carry on in this vein. The way the club has been run is a joke and an absolute disgrace. [Post edited 6 Mar 2014 19:33]
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The other interesting aspect for me is the light this sheds on the way the club has been run in the last year, since April 2013.
TF would have known this financial position at that point or thereabouts. We just don't have to post the accounts for a while (and we missed this deadline too).
Therefore, all the decisions he has made since April 2013 have been with the knowledge of this £177m debt and £65m wage bill.
It's inconceivable that, when turning down some of Redknapp's transfer targets (Bridge, for example), this financial predicament wouldn't have been voiced as the reason for not agreeing to his wishes.
This means that Redknapp would also be aware of the precarious position the club was in. I know he loves to say he's illiterate and innumerate, but anyone who can put their trousers on the right way around knows £177m of debt is a lot of debt.
I understand TF agreeing the “big money” signings of Austin and Phillips as a genuine “we need to invest to secure the promotion which we really need”. However, his agreement to all these loan signings, adding to our frankly ridiculous wage bill AND Redknapp’s addictive desire to sign a new loanee/short term deal, every other sodding weeks paints TF as weak and Redknapp as a selfish mercenary with absolutely no care for the financial wellbeing of the club.
It paints them both in terrible, albeit different, lights.
Redknapp would not have behaved like this if he had any intention of being here for anything more than the very, very short term. When results are good, fine. However, with results and form taking a nosedive in the last 5-6 weeks, what’s the point of him? Is it better to sack him now, take the cost, bring someone in for the long term, with the small possibility they cause a bounce in results/performance that delivers promotion, but if they don’t is at least committed to the long term good of the club ahead of next season. I say ‘yes’.
Bear in mind TF has to make that decision with probably another £60m worth of debt on top of that £177m. Promotion looks very, very important to me. So does a long term approach to the team and club from both Chairman and Manager. Redknapp is currently delivering neither promotion nor a long term approach. |  | | |
| QPR Accounts... on 20:21 - Mar 6 with 2823 views | HollowayRanger |
| QPR Accounts... on 13:33 - Mar 6 by Nov77 |
If flavio was still in charge would everyone still be prepared to make excuses for the transfers/wage bill/debt we've landed ourselves with.
The halo effect of TF shows no sign of abating.
http://www.bbc.co.uk/sport/0/football/26468560 [Post edited 6 Mar 2014 13:34]
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if flavio were still in charge he would have got rid of hughes much quicker then tony |  |
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| QPR Accounts... on 20:35 - Mar 6 with 2784 views | WeaverQPR |
The club stinks, from top to bottom, barring a few players we fcking reek. No wonder we are despised by everyother club in the FL. The last 3 years have been a disaster under TF yet but don't worry 'Uncle Tony' is learning.
No wonder so many are falling out of love with QPR. [Post edited 6 Mar 2014 20:38]
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| QPR Accounts... on 20:35 - Mar 6 with 2783 views | YorkRanger |
Maybe I'm an Ostrich but am I alone in not being concerned. My rationale (whilst perhaps flawed) is:
1. The structure of the accounts and debt are complex.
2. The internal arrangements between the owners cannot be assessed from this.
3. We are totally dependent on the ongoing support of the owners even if the debt was half what it is many would be concerned.
4. TF is an experienced businessman. It is hard to believe this position has arisen without his full awareness of the situation and implications.
5. There is fck all I can do about it... |  | | |
| QPR Accounts... on 20:39 - Mar 6 with 2768 views | qprewan |
Am i reading this correctly? we have just recorded the largest losses of any club in the country last year; in fact only Chelsea and Man City have ever had higher annual losses than this and some on here are saying that it could be a blessing in disguise!!
I'm sorry but whatever way you cut it this is pretty disastrous. Whilst I agree that we all knew the figures were going to be bad we have also all been sticking our heads in the sand to some extent at least. Many on here seem to think everything will be fine once we get rid of everyone at the end of the season and praise the club for shifting on the likes of Mbia, Graniero, Park and Caesar but when you actually stop and think about it the fact that we are in all likleyhood still paying thousands and thousands every week in wages for them to play for someone else is ridiculous for a club the size of QPR. Imagine if Barnsley or even Burnley were doing this yet we now regard it as normal. Likewise the club is currently paying out significant wages to all our loan [players of whom nearly half will not be elegible for any given game.
Add to this the fact that the club in its rush to sign all the Boswingers and Cisses of this world omitted to include any relegation clauses in the contracts and you have the shambles that is currently our football club. I happen to like Tony Fernandes but in a sense that is irrelevant it is surely madness for our club to have become so dependent on one man and his money. Back in the eighties we had a chairman who suddenly died unexpectedly and as a result the club fell into the hands of the Thompson family, god forbid that this would happen again but what if it did or if his other businesses were to run into difficulty?
One thing is certain, with this level of debt, and who knows what it will have risen to by next year, and no one is going to be buying us- we have to hope that Tony and the mittals continue to swallow the debt themselves but personally I am not sure that The Mittalls are still keen to be involved, it does seem to have become the Tony Fernandes show in recent times so we certainly should not presume that they will bail us out if it all goes any more pear shaped. | | | |
| QPR Accounts... on 20:40 - Mar 6 with 2759 views | HollowayRanger |
so if we go up we are fined £50 million
if we dont go up we have a transfer ban
stuff promotion
if we can still get loan players in ,to replace a few of those that leave
over 100 staff/players thats got to be cut for a start its crazy | |
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| QPR Accounts... on 20:48 - Mar 6 with 2748 views | BAWHoops |
To have your wage bill more than 100% of your turnover is disgusting.
Shameful stuff |  |
| http://blogandwhitehoops.wordpress.com/ |
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| QPR Accounts... on 21:02 - Mar 6 with 2705 views | PlumsteadQPR |
Oh QPR... "in the days when you were hopelessly poor/I just liked you more..."  |  | | |
| QPR Accounts... on 21:04 - Mar 6 with 2697 views | CanadaRanger |
177 million pounds sterling...
Isn't that more than a bozingwan dollars?
... |  | | |
| QPR Accounts... on 21:15 - Mar 6 with 2670 views | Clive_Anderson |
Could some of the loss be a sort of tax dodge?
Pass the straws please. | | | |
| QPR Accounts... on 21:16 - Mar 6 with 2664 views | FDC |
The current state of affairs is ludicrous, an embarrassment.
As an aside, TF spoke at an LSE public lecture recently, about the success of his airline business. Listening to him speak I could totally see how his enthusiasm and generally likeable persona could bring him success in that world, but likewise how it didn't necessarily follow that it would transfer to running a football club (with a history of neglect) |  | | |
| QPR Accounts... on 21:23 - Mar 6 with 2642 views | dolcelatte |
Hardly, Dave Mc in attention seeking article shock,,, |  |
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| QPR Accounts... on 21:48 - Mar 6 with 2602 views | derbyhoop |
I've been banging on about the finances for some time so I'm not surprised. The important thing is what happens now.
We paid out £68m in wages. Getting shot of 20 players last Summer and replacing them with 12, presumably on considerably lower wages, probably cut £15m from the wage bill.
We spent a net £40m on transfer fees. This season we sold Samba and Mackie for £13m and bought Austin, Phillips and Henry. Everyone else was a free transfer. So we should be up by about £3m on transfer dealings. And that's without selling Taarabt or Remy (was it a £2m loan deal?).
The combination of near capacity crowds (even with lower prices), Championship level TV money and the all important parachute payments mean income will be around £30m.
By my reckoning we'll post a loss of £20-25m for this season. A massive improvement but nowhere near enough to avoid serious FFP penalties.
This coming Summer a lot of players are out of contract (15 at least) which gives us the chance to knock another £15m+ off the wage bill, possibly more. We may re-sign some. Any we do, will have to accept considerably lower wages. If we can sell Remy, Adel and Cesar we're almost starting to look like a viable business.
Shedding 15 means that we could be short on numbers so we'll have to replace. I cannot see any way we can afford loanees, like BAE nor Krancjar. Nor can we afford to have 8 loanees to fill 5 possible places. We're going to have to deal with lesser players and sensible wages.
In AKUTRS I suggested a salary cap. It may have to start with a maximum wage of £10K per week, while we dig ourselves out of this hole. I'm not sure that will appeal to players like Green, Dunne and Austin, although the former two may not have an alternative. It certainly won't attract the sort of players who are likely to get us promoted.
Perhaps some of the players we loaned out will have to step up to Championship level. |  |
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Find me on twitter @derbyhoop |
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| QPR Accounts... on 22:03 - Mar 6 with 2576 views | daveB |
| QPR Accounts... on 21:23 - Mar 6 by dolcelatte |
Hardly, Dave Mc in attention seeking article shock,,, |
whats attention seeking about that? Seems pretty accurate to me |  | | |
| QPR Accounts... on 22:10 - Mar 6 with 2553 views | QPR1882 |
| QPR Accounts... on 20:21 - Mar 6 by HollowayRanger |
if flavio were still in charge he would have got rid of hughes much quicker then tony |
WTF has Hughes got to do with it ?? |  | | |
| QPR Accounts... on 22:12 - Mar 6 with 2551 views | WeaverQPR |
can someone c&p the dave mc article as im at work and the link is getting blocked on this comp | |
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