| 17 mill and transfer embargo 08:02 - Jul 27 with 21291 views | stevec |
Read it all in my super soaraway Sun but says QPR have agreed the £42 mill settlement and accept a transfer embargo starting Jan 2019.
What a mess
This post has been edited by an administrator |  | | |  |
| 42 mill and transfer embargo on 08:07 - Jul 27 with 9854 views | Blue_Castello |
FWiW threads are being deleted right left and centre about this topic, and the previous thread said it was £20 million which included £3 million legal costs, so don't believe everything you read at the moment, especially the Stun. |  | | |
| 42 mill and transfer embargo on 08:07 - Jul 27 with 9851 views | JamesB1979 |
It’s 17m fine plus pay 3m of their fees. We pay the 17m over 10 years and transfer embargo is only Jan 2019. So, it’s not bad considering what it could have been. Not sure Jan 19 transfer embargo is really much of a punishment. | | | |
| 42 mill and transfer embargo on 08:13 - Jul 27 with 9795 views | distortR |
what a 'kin mess, and to think that we were signatories to this debacle | | | |
| 42 mill and transfer embargo on 08:17 - Jul 27 with 9745 views | CroydonCaptJack |
| 42 mill and transfer embargo on 08:13 - Jul 27 by distortR |
what a 'kin mess, and to think that we were signatories to this debacle |
Let us see what the actual settlement is before assuming the Sun is correct perhaps?
If the £17m plus £3m quoted in the Times is correct then I think that is a result. |  | | |
| 17 mill and transfer embargo on 08:19 - Jul 27 with 9734 views | E17hoop |
Nick De Marco just confirmed this is correct on Twitter:
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| 17 mill and transfer embargo on 08:21 - Jul 27 with 9706 views | stevec |
Thanks for looking into it more deeply lads, have to say though that link suggests the £42m is being settled in full albeit in a way that TF cannot call around half of it back. The other half or certainly £17 mill is effectively being settled by the football club unless Owners continue to plug the gap, not quite what TF promised.
7 years of this idiot. | | | |
| 17 mill and transfer embargo on 08:26 - Jul 27 with 9663 views | CroydonCaptJack |
| 17 mill and transfer embargo on 08:21 - Jul 27 by stevec |
Thanks for looking into it more deeply lads, have to say though that link suggests the £42m is being settled in full albeit in a way that TF cannot call around half of it back. The other half or certainly £17 mill is effectively being settled by the football club unless Owners continue to plug the gap, not quite what TF promised.
7 years of this idiot. |
I think I believe the lawyer working on the case rather than the Times interpretation | | | |
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| 17 mill and transfer embargo on 08:26 - Jul 27 with 9660 views | Mytch_QPR |
| 17 mill and transfer embargo on 08:21 - Jul 27 by stevec |
Thanks for looking into it more deeply lads, have to say though that link suggests the £42m is being settled in full albeit in a way that TF cannot call around half of it back. The other half or certainly £17 mill is effectively being settled by the football club unless Owners continue to plug the gap, not quite what TF promised.
7 years of this idiot. |
What happened to the other thread?
In terms of TF: Can we change the past - no.
Are we now running the club on a more stable footing - yes.
Have you got deep pockets and a plan to move the club forward, or can you guarantee a new owner will be better?
?
We were the first to be hit hard by FFP, but we won't be the last.
The Jan embargo is a bit more worrying to me - we have a few days now to get a few spaces filled in the squad. |  |
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| 17 mill and transfer embargo on 08:30 - Jul 27 with 9629 views | distortR |
| 17 mill and transfer embargo on 08:26 - Jul 27 by CroydonCaptJack |
I think I believe the lawyer working on the case rather than the Times interpretation |
"I think i believe the lawyer...." ??????????? | | | |
| 17 mill and transfer embargo on 08:31 - Jul 27 with 9616 views | Northernr |
Well as Nico is tweeting about it now...
Yes it's £17m plus £3m costs plus a transfer embargo for January. Steve I've edited your headline, do stop reading The Sun mate their grasp of the facts is non-existent. The fine is payable over 10 years and the club has asked that a portion of it goes to Grenfell. There'll be an official announcement later today and I'll put a piece up with all the info, background etc.
The reason for the thread deletion (apologies) is because there has been a leak of the press release somewhere which has caused massive problems for the club with the league etc, just as they'd finally settled a long standing dispute, so we were asked to try and keep a lid on it as best we could. Anyway, some massive fcking whopper was famous on Twitter for five minutes so good for them. |  | | |
| 17 mill and transfer embargo on 08:37 - Jul 27 with 9527 views | BrianMcCarthy |
| 17 mill and transfer embargo on 08:31 - Jul 27 by Northernr |
Well as Nico is tweeting about it now...
Yes it's £17m plus £3m costs plus a transfer embargo for January. Steve I've edited your headline, do stop reading The Sun mate their grasp of the facts is non-existent. The fine is payable over 10 years and the club has asked that a portion of it goes to Grenfell. There'll be an official announcement later today and I'll put a piece up with all the info, background etc.
The reason for the thread deletion (apologies) is because there has been a leak of the press release somewhere which has caused massive problems for the club with the league etc, just as they'd finally settled a long standing dispute, so we were asked to try and keep a lid on it as best we could. Anyway, some massive fcking whopper was famous on Twitter for five minutes so good for them. |
Well, seeing as we have the go-ahead...
While the FFP rules of the time were clearly nonsensical and, in my opinion, inequitable, this is as good a result as we could have hoped for.
17 million over ten years - no matter what happens to us in the next decade, this should not threaten our existence
3 million costs - bearable
Jan 19 transfer embargo - fine by me, we can survive that
Overall, our club appears safe this morning and that's the headline as far as I'm concerned.
We owe a huge thank you to Lee Hoos and Les Ferdinand. Without them, this morning would have been grim and possibly catastrophic for our club. |  |
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| 17 mill and transfer embargo on 08:41 - Jul 27 with 9486 views | Blue_Castello |
| 17 mill and transfer embargo on 08:26 - Jul 27 by Mytch_QPR |
What happened to the other thread?
In terms of TF: Can we change the past - no.
Are we now running the club on a more stable footing - yes.
Have you got deep pockets and a plan to move the club forward, or can you guarantee a new owner will be better?
?
We were the first to be hit hard by FFP, but we won't be the last.
The Jan embargo is a bit more worrying to me - we have a few days now to get a few spaces filled in the squad. |
Looks like the other thread was deleted just as I was posting.
The important factor for me is that since TF appointed Lee and Les the club has been run very sensibly for a few years now, the mistakes were made in the past appointing Beard, Hughes and Redcrap without supervision, who would have thought the CEO at the time really needed a baby sitter.
The fact that DeMarco has been working on the case gives me some confidence that we have got the best outcome possible, the same man who got us out of the mess with Faurlingate if I remember correctly. Hopefully he has managed to reduce the fine to something relevant to the new rules as this is surely what should happen from a legal perspective.
The owners knew the fine was coming and have factored this into the clubs finances.
As you say the January transfer embargo is a small worry but if we get ourselves sorted now we should be ok, let's face it last January we didn't do any business anyway as far as I can remember. | | | |
| 17 mill and transfer embargo on 08:45 - Jul 27 with 9450 views | makaveli1882 |
| 17 mill and transfer embargo on 08:31 - Jul 27 by Northernr |
Well as Nico is tweeting about it now...
Yes it's £17m plus £3m costs plus a transfer embargo for January. Steve I've edited your headline, do stop reading The Sun mate their grasp of the facts is non-existent. The fine is payable over 10 years and the club has asked that a portion of it goes to Grenfell. There'll be an official announcement later today and I'll put a piece up with all the info, background etc.
The reason for the thread deletion (apologies) is because there has been a leak of the press release somewhere which has caused massive problems for the club with the league etc, just as they'd finally settled a long standing dispute, so we were asked to try and keep a lid on it as best we could. Anyway, some massive fcking whopper was famous on Twitter for five minutes so good for them. |
My mate has been working on this case through the company he works for. He started to talk to me about it all on sunday at the pub, he started to say some of the money these players had been on and I stopped him in his tracks and said I just don't want to know as the less I know the better..............what a mess only at Rangers!! | | | |
| 17 mill and transfer embargo on 08:48 - Jul 27 with 9413 views | Maggsinho |
Surprised that letter that leaked wasn't a fake given the random capitalisations in it, looked really unprofessional, but there you go.
This feels about as a good an outcome as we could have hoped for so can finally move on. And well done the club for thinking of Grenfell. |  | | |
| 17 mill and transfer embargo on 08:49 - Jul 27 with 9404 views | Northernr |
| 17 mill and transfer embargo on 08:48 - Jul 27 by Maggsinho |
Surprised that letter that leaked wasn't a fake given the random capitalisations in it, looked really unprofessional, but there you go.
This feels about as a good an outcome as we could have hoped for so can finally move on. And well done the club for thinking of Grenfell. |
You're familiar with the Football League right? | | | |
| 17 mill and transfer embargo on 08:50 - Jul 27 with 9396 views | distortR |
| 17 mill and transfer embargo on 08:37 - Jul 27 by BrianMcCarthy |
Well, seeing as we have the go-ahead...
While the FFP rules of the time were clearly nonsensical and, in my opinion, inequitable, this is as good a result as we could have hoped for.
17 million over ten years - no matter what happens to us in the next decade, this should not threaten our existence
3 million costs - bearable
Jan 19 transfer embargo - fine by me, we can survive that
Overall, our club appears safe this morning and that's the headline as far as I'm concerned.
We owe a huge thank you to Lee Hoos and Les Ferdinand. Without them, this morning would have been grim and possibly catastrophic for our club. |
well, i'm gutted.
20m and the embargo means we can't buy half of Richarlison in january | | | |
| 17 mill and transfer embargo on 08:52 - Jul 27 with 9378 views | stevec |
| 17 mill and transfer embargo on 08:31 - Jul 27 by Northernr |
Well as Nico is tweeting about it now...
Yes it's £17m plus £3m costs plus a transfer embargo for January. Steve I've edited your headline, do stop reading The Sun mate their grasp of the facts is non-existent. The fine is payable over 10 years and the club has asked that a portion of it goes to Grenfell. There'll be an official announcement later today and I'll put a piece up with all the info, background etc.
The reason for the thread deletion (apologies) is because there has been a leak of the press release somewhere which has caused massive problems for the club with the league etc, just as they'd finally settled a long standing dispute, so we were asked to try and keep a lid on it as best we could. Anyway, some massive fcking whopper was famous on Twitter for five minutes so good for them. |
Fair enough, I look forward to your article.
Hope you can shed light on the breakdown, admittedly I’m having to read between the lines at the moment but this reads as if TF is walking relatively free from the £42 mill, certainly in the way he said the directors will settle the debt.
First the £17 mill ( and possibly the 3 mill cost) are firmly planted at the door of the football club, quite how or whether TF honours that debt remains to be seen. The other £22m needs explaining, have EFL accepted TFs write off of the £69m down to £9m loss, as part of the £42m or is he stumping up another £22m? The former means he’s not paying a single further penny of this agreement, but either way it’s a £42m fine however the lawyers cut it. | | | |
| 17 mill and transfer embargo on 08:52 - Jul 27 with 9373 views | YorkRanger |
| 17 mill and transfer embargo on 08:37 - Jul 27 by BrianMcCarthy |
Well, seeing as we have the go-ahead...
While the FFP rules of the time were clearly nonsensical and, in my opinion, inequitable, this is as good a result as we could have hoped for.
17 million over ten years - no matter what happens to us in the next decade, this should not threaten our existence
3 million costs - bearable
Jan 19 transfer embargo - fine by me, we can survive that
Overall, our club appears safe this morning and that's the headline as far as I'm concerned.
We owe a huge thank you to Lee Hoos and Les Ferdinand. Without them, this morning would have been grim and possibly catastrophic for our club. |
Sensible as ever from Brian and this broadly aligns with my view. Some form of transfer embargo was inevitable. |  | | |
| 17 mill and transfer embargo on 08:56 - Jul 27 with 9330 views | headhoops |
| 17 mill and transfer embargo on 08:37 - Jul 27 by BrianMcCarthy |
Well, seeing as we have the go-ahead...
While the FFP rules of the time were clearly nonsensical and, in my opinion, inequitable, this is as good a result as we could have hoped for.
17 million over ten years - no matter what happens to us in the next decade, this should not threaten our existence
3 million costs - bearable
Jan 19 transfer embargo - fine by me, we can survive that
Overall, our club appears safe this morning and that's the headline as far as I'm concerned.
We owe a huge thank you to Lee Hoos and Les Ferdinand. Without them, this morning would have been grim and possibly catastrophic for our club. |
Wholeheartedly agree Brian, finally we know what we are facing and it certainly could have been worse.
Hopefully some of our fans will now finally get that we are not about to sign Mbappe anytime soon. Better to adopt a siege mentality and get behind McLaren and the kids. One signing we do need to hang on to is Hoos. |  |
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| 17 mill and transfer embargo on 08:56 - Jul 27 with 9326 views | Northernr |
| 17 mill and transfer embargo on 08:52 - Jul 27 by stevec |
Fair enough, I look forward to your article.
Hope you can shed light on the breakdown, admittedly I’m having to read between the lines at the moment but this reads as if TF is walking relatively free from the £42 mill, certainly in the way he said the directors will settle the debt.
First the £17 mill ( and possibly the 3 mill cost) are firmly planted at the door of the football club, quite how or whether TF honours that debt remains to be seen. The other £22m needs explaining, have EFL accepted TFs write off of the £69m down to £9m loss, as part of the £42m or is he stumping up another £22m? The former means he’s not paying a single further penny of this agreement, but either way it’s a £42m fine however the lawyers cut it. |
The £17m plus £3m costs will be paid by the board. It'll have to be, QPR operates at a loss, it certainly doesn't make £20m. So the board members will have to swallow that. Fernandes said as much at the end of last season.
The way Fernandes and Ruben have been financing QPR for sometime is by loaning the club money upon which interest is charged. However, rather than demand the loan or the interest back in cash, they've simply converted it into shares in the club - this is how Fernandes' stake in the club has been going down and Ruben's has been going up, because he's loaning more money in then converting it to shares.
The league obviously don't want a fine of theirs saddling a club with £20m a debt, so they've insisted that it be converted into equity rather than just leveraged against the club - and actually, that's already been done, earlier this month. That is how the club was being financed anyway, but it's just been put in writing now to make sure. | | | |
| 17 mill and transfer embargo on 08:58 - Jul 27 with 9294 views | spencer |
So, we move on.
Quite happy to endure transfer embargo...club appears to be moving in a good direction.
Going to be an interesting season....lots of youngsters...hopefully, and I feel we will, stay in championship this season and future looks a lot brighter( Just my opinion, after 5-6 years of just spunking money everywhere, on everyone...who have finally now left the building ) |  | | |
| 17 mill and transfer embargo on 08:58 - Jul 27 with 9289 views | rsonist |
Glad the owners only got to give £17m of their own money to charity for completely flouting the rules. Have to feel for the lawyers they've been keeping nicely topped up over the years though. |  | | |
| 17 mill and transfer embargo on 08:59 - Jul 27 with 9279 views | JamesB1979 |
| 17 mill and transfer embargo on 08:52 - Jul 27 by stevec |
Fair enough, I look forward to your article.
Hope you can shed light on the breakdown, admittedly I’m having to read between the lines at the moment but this reads as if TF is walking relatively free from the £42 mill, certainly in the way he said the directors will settle the debt.
First the £17 mill ( and possibly the 3 mill cost) are firmly planted at the door of the football club, quite how or whether TF honours that debt remains to be seen. The other £22m needs explaining, have EFL accepted TFs write off of the £69m down to £9m loss, as part of the £42m or is he stumping up another £22m? The former means he’s not paying a single further penny of this agreement, but either way it’s a £42m fine however the lawyers cut it. |
No it’s a 17m fine plus settling 3m of costs. The rest is a conversion of shareholder loan to equity.....so from club standpoint, converting liability into equity. You can’t say that is part of the fine. The conversion actually benefits us. | | | |
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