| Statement from bungle 10:34 - Mar 7 with 13500 views | WeaverQPR |
Chairman Tony Fernandes issues statement on behalf of QPR Shareholders …
Tony Fernandes, speaking on behalf of the QPR Shareholders, has today issued the following statement in relation to the club’s latest statutory accounts.
‘When we took ownership of QPR in August 2011, our initial objective was to secure Premier League stability and to establish the club in the top flight.
While we worked hard to achieve this, we were always mindful that relegation was a possibility, just as it is for the majority of clubs competing in the top division of English football.
While relegation was not part of our strategy, it was something we were prepared for.
Every great endeavour needs support in the short term. Every business requires capital to get off the ground. When we bought this club there were no assets. We had to build from the ground up.
Now we have great assets and we are in a position where we can use this asset base to develop our squad, without the need to invest new capital.
Relegation wasn't part of the plan and it has cost us financially and emotionally, but I and my fellow Shareholder are fighters. We are committed and here for the long term.
With regards to the debt it is important to understand that this is through shareholder loans.
The debt in the club is owed TO the Shareholders BY the Shareholders.
We are all fully committed to QPR in the short, medium and long term and are 100 per-cent focused on delivering our vision for the club.
Promotion back to the Premier League is a major challenge, but one we are committed to.
Achieving promotion this season is not critical to our long-term strategy, but it remains our short term goal.
If we fail in our bid for promotion, the support is there and there is no need for any more advances to build a squad.
We are now in a position where we can work with what we have, and raise capital to invest in the squad by selling players who are not part of the manager’s plans.
We would like to reassure the QPR supporters that our commitment is unwavering and we remain passionate about our club.’
Read more at http://www.qpr.co.uk/news/article/07...yisSdgjyEyd.99 |  |
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| Statement from bungle on 11:27 - Mar 7 with 1732 views | francisbowles |
| Statement from bungle on 11:20 - Mar 7 by paulparker |
As another poster said its pure waffle and as my old nan used to say
Bullshi*t baffles brains
expect loads of messages saying now how lucky we are to have tone and he is learning from his mistakes etc etc Zzzzzzzzz
the bloke is a walking disaster and I wouldn't believe a word that comes from his mouth
he is running this club into the ground and I wouldn't trust him to sell Adel or Remy as we will end up with £2.50 and a load of tracksuits |
So what's the alternative! |  | | |
| Statement from bungle on 11:30 - Mar 7 with 1724 views | Mytch_QPR |
I'm not a spokesman for TF or anything, but there seems to be a lot of ingratitude here - not to mention short memories.
He's not perfect by any means but if he is here for the long term and we're well supported financially then I say it's good news. The balance sheet looks unedifying to say the least - but that's the same with Chelsea, Man City and a number of other clubs.
When you see the likes of Tan, Carson Yeung and the nutter who is trying to buy Leeds doing the rounds, I think it's a case of better the devil you know.
I think we'd all like to see a settled squad and plan - oddly enough by failing to secure promotion this season we may well end up with this. |  |
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| Statement from bungle on 11:33 - Mar 7 with 1708 views | nadera78 |
| Statement from bungle on 10:59 - Mar 7 by Neil_SI |
That statement is worrying. It's a lot of thrashing around with words, but with no substance and the more I read it, the more bizarre it sounds.
The only asset we have is Loftus Road, which is a great asset, but I'm not sure we have any other great assets. The work on the new training ground and stadium has not started, and you can hardly label the majority of our players as assets.
In addition, due to the relative ages, ability and contractual situation for the players, there will most likely be a lot of change in the summer whether they like it or not. So, they will have to invest in new players one way or another or re-sign some of the existing ones on new deals (which doesn't inspire confidence).
They may not make any more advances to build a squad, but you can bet that they'll need to continue to make advances for the club to continue operating — that debt will only continue to increase.
Perhaps they can raise some capital by selling Loïc Rémy and Adel Taarabt, but it's still too few and far between. The money they'll make is a drop in the ocean compared to what they've spent and will continue to spend going forward.
Now, if they said they were willing to write off some of the debt, as their responsibility, then I'd have a totally different point of view. But I doubt that's going to be the case, they are not in the business to lose money. They're here to make money and it's currently at QPR's expense.
What we really want to know is: if the long-term master plan comes off and they make a load of money, will they then write off these loans and declare the club debt free? [Post edited 7 Mar 2014 10:59]
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Absolutely spot on. Lots of talk, that we've heard before, about assets and investment but the truth is they've thrown an obscene amount of money around and we've got nothing to show for it. | | | |
| Statement from bungle on 11:35 - Mar 7 with 1694 views | paulparker |
| Statement from bungle on 11:27 - Mar 7 by francisbowles |
So what's the alternative! |
unfortunately there probably isn't one
but Tone has made a pigs ear of this and yet we still get fans saying he is our best ever chairman or we are lucky to have him, he is learning from his mistakes
FFS we are 177 million in debt and playing in the championship we have a wage bill higher than the runners up in the champions league
alarm bells should be ringing |  |
| And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot
That’s there that’s two, and that’s Bowles
Brian Moore
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| Statement from bungle on 11:42 - Mar 7 with 1668 views | bob566 |
| Statement from bungle on 11:35 - Mar 7 by paulparker |
unfortunately there probably isn't one
but Tone has made a pigs ear of this and yet we still get fans saying he is our best ever chairman or we are lucky to have him, he is learning from his mistakes
FFS we are 177 million in debt and playing in the championship we have a wage bill higher than the runners up in the champions league
alarm bells should be ringing |
it is all very worrying. The only thing in our favour is the thread from the start of the week about the 15 contracts been up. THat will help massively. | | | |
| Statement from bungle on 11:45 - Mar 7 with 1657 views | LowerloftLad |
Asset 1 the ground
Number 2 remy
Number 3 loads of wages heading out the door this summer and not returning |  |
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| Statement from bungle on 11:47 - Mar 7 with 1649 views | QPR442 |
'alarm bells should be ringing'
Alarm bells are ringing and TF knows mistakes have been made but before we shoot the bloke at least give him a chance.
Unless of course we have a fan on here that can buy QPR? | | | |
| Statement from bungle on 11:49 - Mar 7 with 1649 views | BrianMcCarthy |
Glad they issued a statement. Right thing to do.
However, if there's a feeling around that they can't win with the fans at present, it's only because a lot of QPR fans are well aware of the dangers of what they're trying to achieve, and aware that the horse they've picked for the big race they want to win is in danger of being flogged to death. |  |
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| Statement from bungle on 11:49 - Mar 7 with 1644 views | kingsburyR |
| Statement from bungle on 11:35 - Mar 7 by paulparker |
unfortunately there probably isn't one
but Tone has made a pigs ear of this and yet we still get fans saying he is our best ever chairman or we are lucky to have him, he is learning from his mistakes
FFS we are 177 million in debt and playing in the championship we have a wage bill higher than the runners up in the champions league
alarm bells should be ringing |
Of all he fact being thrown around the reference to Dortmund bothers me the most.
A close second was a fact on talksport stating that our spend compared to WBA (the model club over the last 10 years or so) is four times theirs!!!!
So not only are we paying players obscene amounts of money but we spend lavishly also!
I predict a difficult future for us im afraid. |  |
| Dont know why we bother. .... but we do! |
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| Statement from bungle on 12:05 - Mar 7 with 1593 views | nadera78 |
| Statement from bungle on 11:30 - Mar 7 by Mytch_QPR |
I'm not a spokesman for TF or anything, but there seems to be a lot of ingratitude here - not to mention short memories.
He's not perfect by any means but if he is here for the long term and we're well supported financially then I say it's good news. The balance sheet looks unedifying to say the least - but that's the same with Chelsea, Man City and a number of other clubs.
When you see the likes of Tan, Carson Yeung and the nutter who is trying to buy Leeds doing the rounds, I think it's a case of better the devil you know.
I think we'd all like to see a settled squad and plan - oddly enough by failing to secure promotion this season we may well end up with this. |
Ingratitude?
Go on then, tell me what we're supposed to be grateful for. They've wasted an obscene amount of money and every single decision they've taken has been the wrong one. | | | |
| Statement from bungle on 12:10 - Mar 7 with 1573 views | CroydonCaptJack |
Call him Bungle but you wouldn't mind being a pound behind him no doubt. |  | | |
| Statement from bungle on 12:11 - Mar 7 with 1570 views | Gloucs_R |
| Statement from bungle on 12:05 - Mar 7 by nadera78 |
Ingratitude?
Go on then, tell me what we're supposed to be grateful for. They've wasted an obscene amount of money and every single decision they've taken has been the wrong one. |
In fairness, its their own money.
Ever have a big night out, gone to a few clubs, then on to a titty bar, wake up the next day with a hangover and realise just how much you have spent?
You either do it all again or learn your lesson. |  |
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| Statement from bungle on 12:12 - Mar 7 with 1568 views | PinnerPaul |
| Statement from bungle on 10:39 - Mar 7 by WeaverQPR |
So no actual mention of the figures in the statement, just waffle. |
Explaining the exact nature of the loans is not waffle and if you want figures, read the results!
Any real need to reference those given the media coverage?! | | | |
| Statement from bungle on 12:14 - Mar 7 with 1558 views | PinnerPaul |
| Statement from bungle on 10:42 - Mar 7 by WeaverQPR |
Problem is nobody wants to buy these players/assets |
I think you might find one or two interested in Remy for a start!  | | | |
| Statement from bungle on 12:16 - Mar 7 with 1548 views | essextaxiboy |
| Statement from bungle on 10:39 - Mar 7 by WeaverQPR |
So no actual mention of the figures in the statement, just waffle. |
We know what the figures are.
I also think it is disrespectful to call him names.
Why dont we just trust him . Unless you have 177 mil to buy him out ? I dont. |  | | |
| Statement from bungle on 12:17 - Mar 7 with 1522 views | PinnerPaul |
| Statement from bungle on 11:18 - Mar 7 by QPR442 |
Agree we do have some stupid fans that seem to 'shoot themselves in the foot' while trying to be funny.
and as for the other post:
'That statement is worrying. It's a lot of thrashing around with words, but with no substance and the more I read it, the more bizarre it sounds'.
TF is damned if he does and doesn't. Whatever he says or does we always get fans that look at the negative. He put his money in and got stung. He puts out a statement reassuring fans that he won't walk and leave us in the s###e and we still questioned it? If he hadn't put any money in and we were mid table in the Championship people would be moaning that he didn't spend?
At the end of the day he is the owner because none of us have the money to run the club. We should be grateful we have an open chairman like him and not the likes of (Birmingham/Cardiff/Hull/Reading).
Lets just let him get on with it and if it all falls down then start moaning because there is nothing we can do anyway. |
Spot on! | | | |
| Statement from bungle on 12:29 - Mar 7 with 1480 views | Mytch_QPR |
| Statement from bungle on 12:05 - Mar 7 by nadera78 |
Ingratitude?
Go on then, tell me what we're supposed to be grateful for. They've wasted an obscene amount of money and every single decision they've taken has been the wrong one. |
No offence to you personally, but I remember plenty of people on this board getting excited when we were signing the likes of Park, Cesar, Granero etc. We were grateful then - we just didn't know how badly it was all going to work out.
The money in football is obscene - I make you right there, but it's Tony's money. You and I are not out of pocket. I think his intentions were good - he acknowledges a lot of mistakes have been made. We weren't the first club to blow a fortune with nothing to show, and we won't be the last. | |
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| Statement from bungle on 12:31 - Mar 7 with 1473 views | paulparker |
| Statement from bungle on 12:17 - Mar 7 by PinnerPaul |
Spot on! |
lots of people have short memories here,
this have all the hallmarks of Chris Wright mark 2 , this time however it could get a lot more serious for us as a club
at the time Wright was a well meaning chairman pumping his money in
making bad decision after bad decision, us as fans at the time turned a very blind eye as he was a good bloke and loved rangers etc until it was to late, make no mistake if this goes t*ts up tone and his pals will want as much as their investment back as possible AFC Park Rangers at Wealdstone's ground could be nearer than you think | |
| And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot
That’s there that’s two, and that’s Bowles
Brian Moore
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| Statement from bungle on 12:52 - Mar 7 with 1395 views | Antti_Heinola |
| Statement from bungle on 12:31 - Mar 7 by paulparker |
lots of people have short memories here,
this have all the hallmarks of Chris Wright mark 2 , this time however it could get a lot more serious for us as a club
at the time Wright was a well meaning chairman pumping his money in
making bad decision after bad decision, us as fans at the time turned a very blind eye as he was a good bloke and loved rangers etc until it was to late, make no mistake if this goes t*ts up tone and his pals will want as much as their investment back as possible AFC Park Rangers at Wealdstone's ground could be nearer than you think |
how will they get their money back, paul?
I may not have been as good-a right back or centre back as you my friend, but even i can tell there isn't £177m in the club to get back. The only way they can get their money back is by pushing forward. |  |
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| Statement from bungle on 12:58 - Mar 7 with 1378 views | mcardinho |
| Statement from bungle on 12:31 - Mar 7 by paulparker |
lots of people have short memories here,
this have all the hallmarks of Chris Wright mark 2 , this time however it could get a lot more serious for us as a club
at the time Wright was a well meaning chairman pumping his money in
making bad decision after bad decision, us as fans at the time turned a very blind eye as he was a good bloke and loved rangers etc until it was to late, make no mistake if this goes t*ts up tone and his pals will want as much as their investment back as possible AFC Park Rangers at Wealdstone's ground could be nearer than you think |
No doubt TF and the board have made horrendous errors, the contracts they dished out were ludicrous and they are paying the price personally. But I am encouraged by the statement and the point he made about no need for further investment if we stay down....
If we do not get into the Premier League next season they they will sell Remy (£16m) and Taarabt (£5m) and will be able to get £25 million + off the wage bill. Some or all of that money can be used to rebuild, younger players with sell on value. I would expect to see a few more signings in the Austin and Phillips mould. There will be lots of frees available and yes, Id expect a few loans too.
Clearly the January signings were short term but to me understandable. | | | |
| Statement from bungle on 12:59 - Mar 7 with 1376 views | paulparker |
| Statement from bungle on 12:52 - Mar 7 by Antti_Heinola |
how will they get their money back, paul?
I may not have been as good-a right back or centre back as you my friend, but even i can tell there isn't £177m in the club to get back. The only way they can get their money back is by pushing forward. |
im not in the know or anything Antti but TF must at least own the Ground so I imagine that would be sold, people at the clubs losing their jobs, are most saleable assets sold for a fraction of the price they are worth
what scares the krap out of me is if we do keep pushing forward we are going to end up in a even worse mess than we are now | |
| And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot
That’s there that’s two, and that’s Bowles
Brian Moore
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| Statement from bungle on 13:00 - Mar 7 with 1366 views | Nov77 |
It's the fact that not only did we pay higher wages than Dortmund, but we didn't buy success, we bought failure, we got relegated. we failed miserably and it cost us a fortune to do so. We're back in the same division we were in before all of the investment came in, with FAR higher debts than we had then.
How much time is TF actually devoting to the club, he never seems to be in the country and from what I read Air Asia seems more important to him.
Is Phil Beard the right man to be his eyes and ears at HQ? He has been royally shafted by Hughes, agents, greedy players etc and seems to have learnt nothing. |  |
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| Statement from bungle on 13:01 - Mar 7 with 1365 views | mikeygunn |
| Statement from bungle on 12:11 - Mar 7 by Gloucs_R |
In fairness, its their own money.
Ever have a big night out, gone to a few clubs, then on to a titty bar, wake up the next day with a hangover and realise just how much you have spent?
You either do it all again or learn your lesson. |
Or the third option, say you will never do it again but then the next weekend you have a few too many and suddenly you are back in the titty twister and have no idea which slot the credit card has gone in. |  | | |
| Statement from bungle on 13:06 - Mar 7 with 1345 views | DieByYourSide |
Fernandes:
Qpr fans sleep easy. Uncle tony, amit din, ruban all around for a long long time. Journey continues. Let's focus on Birmingham
'Uncle Tony' ffs. Think we all need to throw all our support behind the team this season and hopefully go up through the playoffs cause let's face it, it's not gonna get any easier for us. | |
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| Statement from bungle on 13:06 - Mar 7 with 1345 views | johnnyl14 |
| Statement from bungle on 10:42 - Mar 7 by WeaverQPR |
Problem is nobody wants to buy these players/assets |
Sorry but Remy Tarbs Mbia worth a bit for starters. | | | |
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