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Latest QPR accounts 09:39 - Feb 14 with 14279 viewsNorthernr

Not as bad as it has been but not great news.

The accounts are for last season (Holloway) and show a £37m loss of which £20m is the FFP fine.

£17m loss is still a lot, up from £6.4m the year before. It means we'll breach FFP this season if we lose more than £15m, and means we can only lose £20m over this season and next or we're in breach again.

Wages as a percentage of turnover back up to 98% from 64%.

This is all the effect of the declining parachute payment, which is reduced again for this season and disappears altogether next. Shows why we had to let Onuoha and Robinson go and sell Smithies.

Paid £4.8m to buy players (Scowen, Baptiste, Wheeler, Samuel, Smyth), received £0.1m (Gladwin, Doughty, Bowler, El Khayati, Henry, Ngbakoto, Reece Cox, Comley, Borysiuk).

It's tight.

Follow @nrogers959 on Twitter for a proper run down.

This post has been edited by an administrator
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Latest QPR accounts on 10:12 - Feb 15 with 1547 viewsNorthernr

Latest QPR accounts on 09:53 - Feb 15 by stevec

If you look at the Championship table, five of the bottom six are amongst the lowest supported, look at the top ten, around nine are amongst the most well supported.

This is not just a strategy born of the EFL and FFP, it's the Premier League wanting all the best supported clubs in their League. That will be achieved within ten years max.

Basically, it's saying that without a bigger stadium we are fcked, just as TF and Hoos keep telling us.

At a glance, that puts us about 50th out of the 92. We'd need a stadium of about 35,000 capacity to compete at the top level, maybe getting away with 30k to stand a chance of flurries in the Premier League. So stay as we are and we're essentially a League One club, build a stadium and it's Premier/Championship top end.

You can argue the toss with Bournemouth and Sunderland as prime examples but check League One and Two these days, very very few big stadium clubs at that level any more.


Bournemouth were bankrolled there, breaching FFP to do it. Sunderland are an exception, but they'll be back in this league next season. You're right.
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Latest QPR accounts on 10:48 - Feb 15 with 1486 viewsCroydonCaptJack

Latest QPR accounts on 09:53 - Feb 15 by stevec

If you look at the Championship table, five of the bottom six are amongst the lowest supported, look at the top ten, around nine are amongst the most well supported.

This is not just a strategy born of the EFL and FFP, it's the Premier League wanting all the best supported clubs in their League. That will be achieved within ten years max.

Basically, it's saying that without a bigger stadium we are fcked, just as TF and Hoos keep telling us.

At a glance, that puts us about 50th out of the 92. We'd need a stadium of about 35,000 capacity to compete at the top level, maybe getting away with 30k to stand a chance of flurries in the Premier League. So stay as we are and we're essentially a League One club, build a stadium and it's Premier/Championship top end.

You can argue the toss with Bournemouth and Sunderland as prime examples but check League One and Two these days, very very few big stadium clubs at that level any more.


Compelling as that argument is, I am not sure I totally agree.
Bournemouth have shown it is possible to get promoted and remain in the Prem with a smaller ground than us and Burnley, Watford, Brighton and Palace are not big clubs. The Business model in the Prem is all about TV Revenues now. I do think as you get to the Championship and below it is about ground size but not necessarily in the top league.
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Latest QPR accounts on 11:28 - Feb 15 with 1445 viewsJuzzie

Latest QPR accounts on 07:30 - Feb 15 by davman

Nope, it is purely down to FFP. If that pile of sh1t didn't exist, our Owners would be free to cover whatever costs they wanted and we'd be away. The utterly soul destroying thing is that Chelsea and Man City would not be where they are if FFP had been in place when their owners chucked thir wad.

But now that's against the rules, no-one else can do it.

Apparently that's "fair".

As I have always said, let owners invest what they want. As long as they pay the cash needed rather than credit to avoid the club taking on debt, I do not see what the problem is. They have taken away the ability of fans to dream.

Face it, if we don't go down this season, it'll be next season or the one after.



I agree with that but it only works if rules are in place that the owners saddle any debt and not lump it onto the club like Glaziers at Man Utd, Lerner at Villa, the owners at Liverpool.
As far as I know no such rule exists so we are at the mercy of the owners. If they were to saddle the debt onto the club it would make the ABC loan look like penuts.
IMO, as there is no rule, FFP has been brought in to stop sugar daddies getting clubs like us into prominence. They are happy Man City, Chelsea etc are already there by those means so have now shut the door on anyone else.

We are now left to all fend for ourselves and the danger is so many clubs will risk overspending to get to the PL they could go bust if owners dump the debt onto the club and walk away.

I’ve almost had enough of the PL. We got there twice and a few results aside, it was by and large horrible. Yes, Watford are doing well, so have Bournemouth and others but we’ve seen with the likes of Stoke, WBA and Villa that eventually you will go down.

If we are to get back up there, lets do it sustainably. Good training ground, new stadium, sensible player signings etc. It’s a long slog but can be done. Lets not just spend our way out of this division, again.
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Latest QPR accounts on 11:46 - Feb 15 with 1417 viewsstevec

Latest QPR accounts on 10:48 - Feb 15 by CroydonCaptJack

Compelling as that argument is, I am not sure I totally agree.
Bournemouth have shown it is possible to get promoted and remain in the Prem with a smaller ground than us and Burnley, Watford, Brighton and Palace are not big clubs. The Business model in the Prem is all about TV Revenues now. I do think as you get to the Championship and below it is about ground size but not necessarily in the top league.


That is a fair point and, in fact, the Premier League is quite unbalanced in terms of ground size and again, as you say, determined more by TV revenues.

However, the Premier and Sky would much prefer to have the larger supported teams in there and FFP will, in a relatively short time, 'correct' that imbalance you talk about.

With 18,000 capacity stadium clubs won't be getting there any time soon.
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Latest QPR accounts on 12:17 - Feb 15 with 1366 viewsWestbourneR

Latest QPR accounts on 23:28 - Feb 14 by qprd

The rumors about Fernandes' liquidity are easily proven wrong with a very quick google search

Fernandes is the controlling shareholder of a multibillion dollar company. as air asia is a public company, the value of his stake is public information.

https://ir.airasia.com/major_shareholder.html
https://finance.yahoo.com/quote/5099.KL/?guccounter=1

the operations of air asia are diversified across asia, so the bit about political risk/favours is really oversimplified.

he has more than enough money to afford qpr

whether he wants to continue to pump a minimum of 10m-15m each year to a club where most of the fans hate him despite the money he has sunk into the club...... thats a different question


The value of someone's stake in a business and their liquidity are totally different things.

He's not gonna start dumping Air Asia stock to raise funds.

Poll: Should JFH get the sack?

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Latest QPR accounts on 12:59 - Feb 15 with 1305 viewsCroydonCaptJack

Latest QPR accounts on 11:46 - Feb 15 by stevec

That is a fair point and, in fact, the Premier League is quite unbalanced in terms of ground size and again, as you say, determined more by TV revenues.

However, the Premier and Sky would much prefer to have the larger supported teams in there and FFP will, in a relatively short time, 'correct' that imbalance you talk about.

With 18,000 capacity stadium clubs won't be getting there any time soon.


Yes, you are probably right Steve.
The irony is that they are doing their bit (by changing kick off times etc on a whim) to possibly create a situation of dwindling crowds going forward.
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Latest QPR accounts on 13:11 - Feb 15 with 1295 viewsellersliehoop

The operating loss is £22m not £17m.

I suspect the allowable losses for FFP are based on this as opposed to the retained loss of £17m
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Latest QPR accounts on 13:22 - Feb 15 with 1281 viewsTGRRRSSS

Latest QPR accounts on 23:50 - Feb 14 by qprd

I know. No one is suggesting otherwise

Jeff bezos could buy qpr and it wouldn’t make a difference for ffp
[Post edited 14 Feb 2019 23:51]


Maybe maybe not, if Bezos had bought the club we'd probably be allowed to redevelop Loftus Road into some sort of mini Wembley if he wanted and that wouldn't affect FFP.

BTW don't forget the fine from EFL isn't taken into account for losses.
[Post edited 15 Feb 2019 13:26]
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Latest QPR accounts on 13:22 - Feb 15 with 1281 viewsRangersw12

Latest QPR accounts on 04:22 - Feb 15 by Blue_Castello

The accounts really do paint a horrible picture as highlighted by Clive, thanks for the information it saves wading through a horribly complicated accounting document. There does seem no option now than to take the Bristol City approach and sell your best players, thankfully Lee and Les got Freeman to extend his contract, best case scenario for me is somebody with pots of money takes a gamble on Eze and that gives us the chance to keep Freeman.

The strategy of ignoring lower league picks looked a mistake earlier in the season but I keep looking at Ipswich and that's the exact strategy that Hurst employed. Plenty of people on here thought Ipswich had made a good choice of Managerial appointment and Hursts strategy of hoovering up prospects from Div1 and 2 eventually backfired. The whole process has cost Ipswich a lot of money, sacking him mid-term and then employing Lambert whose strategy has been to get experienced players into the squad as quickly as possible at presumably a very heavy cost to the club.

Whether we should have sent all of our Under 23s out on loan is certainly up for debate but if they were not going to get game time its the right decision. As we now know from the accounts Lee and Les have had some tough decisions to make and I'm sure they have been made in the best interests of the club financially.
[Post edited 15 Feb 2019 4:32]


It's a balancing act and with FFP very difficult. I just think we went too much the other way with these loans without thinking of next season

Did we really need both Hemed & Wells and could we not of just got one of them and used the spare money on signing a potential player to drip feed in for next season
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Latest QPR accounts on 13:53 - Feb 15 with 1235 viewsqprd

Latest QPR accounts on 12:17 - Feb 15 by WestbourneR

The value of someone's stake in a business and their liquidity are totally different things.

He's not gonna start dumping Air Asia stock to raise funds.


Most super rich people have very little cash (ie liquidity)

The reason is bc it’s inefficient and the cash can be deployed more effectively in other higher yielding investments

What the super rich do is borrow cheaply from big banks and secure those loans with their assets (eg their art collections, properties, shares in public companies).

So yes, he has plenty of access to cash. He doesn’t need to sell shares to do so

And the controlling stake in a multimillion dollar company is only one of his many assets
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Latest QPR accounts on 14:00 - Feb 15 with 1219 viewsBAWHoops

What's interesting is that the following clubs in the PL aren't traditionally 'big' clubs so if they came down may not have oodles of money to spend

Watford
Bournemouth
Leicester
Palace
Brighton
Burnley
Cardiff
Fulham
Huddersfield

http://blogandwhitehoops.wordpress.com/

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Latest QPR accounts on 16:01 - Feb 15 with 1113 viewsderbyhoop

It's not pretty.
The trouble is that, as parachute payments, disappear, we are increasingly reliant on attendances to provide our main income stream. However, the season ticket sales just about cover the club's running costs - before we start paying the players!!
An 18,000 capacity, outdated stadium is really holding us back, as Lee Hoos has stated on numerous occasions. We just do not make enough money, either on match days nor with non-football usage.
One can rant and rave over player's wages but, unless we find ways of increasing our income, we will have to accept that we are more likely to be playing in L1 than the Premiership. Also that we are going to be increasingly reliant on player sales.
The fact that we have a number of players who have developed since joining QPR is encouraging and a tribute to Les and Chris Ramsey. But don't expect to be able to keep the likes of Freeman and Eze for very long.

Travel is fatal to prejudice, bigotry and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the Earth all one’s lifetime. (Mark Twain) Find me on twitter @derbyhoop

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