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Reply | Fernandes Craving Attention Again...
at 13:01 8 Apr 2015
He is a massive attention seeker.
He's obviously fishing for attention and I bet all the "We love you Tony" & "We want you to stay" tweets followed as we won.
Embarrassing IMO |
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Reply | OOC is OFF but a new stadium isn't
at 16:09 2 Apr 2015
Theres "Transparent and open" & then theres "Tony Fernandes Transparent and open"!!!
BIG difference between the 2! |
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Reply | OOC is OFF but a new stadium isn't
at 09:43 1 Apr 2015
Good post and I agree with a LOT of it re the ownership of the stadium/endless nightmare etc…
Only thing I would question is Mittal's commitment/involvement as:
The ownership of QPR is 67% Tune Group (Fernandes & Co) & 33% Sea Dream Ltd (Amit/Mittal).
The £60m write off on the accounts clearly showed us that Tune wrote of £53.4m & Sea Dream wrote off £6.6m. So the Mittal's only agreed to swallow 11% of the total write off… That shows their (Mittals) commitment as you'd think they'd write off 33% (£18m).
£7m for the Mittals is nothing, they're worth BILLIONS!
ALSO (AND MORE IMPORTANTLY)
Looking back at the accounts released, the club (QPR) loaned a company called "Rangers Developments Ltd" £4.02m. You'd THINK this company was set up for the OOC development and the club were using it to possibly buy up land around OOC (At least some of the £4m should have bought land?).
I've looked through the "Rangers Developments Ltd" accounts (Which were released last week) and heres some info on them.
Rangers Developments Limited was formed in June 2013
The Directors are:
K Bin Meranun
A Fernandes (Tony)
&
R Gnanalingham
NO Mittals!
ALSO… the accounts only shows debts and assets of £2 (Yes TWO POUNDS) and closing shareholders funds of £9 (Yes NINE POUNDS)
SO WHERE IS THE £4.02m QPR (The club) loaned them???
MAKE YOUR OWN MIND UP, but I honestly think the Fernandes "Mr Nice Guy" PR has blinded a lot of fan |
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Reply | OOC is OFF but a new stadium isn't
at 17:06 30 Mar 2015
Don't really see what the club has done wrong?
How about:
1) Telling everyone it will be built by 2018/2019 (As well as a training ground)
2) Getting a loan of £27m against the stadium to fund it (Clubs financial future at risk)
Surely if the club was serious about the development then they would have bought the land first, instead they're using US (Fans) as public support.
Don't like the emotional blackmail ("We'll have to move out the area otherwise"). |
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Reply | OOC is OFF but a new stadium isn't
at 09:42 30 Mar 2015
If OOC won't happen then Fernandes and Co won't be able to build a stadium, OOC isn't about QPR or a Stadium its about houses. You're kidding yourselves if you think otherwise.
The "stadium led regeneration" spin and using us (Fans) as public support is their (Fernandes & Co's) ploy to get a shed load of land to build houses which will pay for a stadium/clear their debt and make their pockets ever fatter.
I personally don't like the fact Fernandes has used our club and I think he will leave if we are relegated.
Reasons:
OOC is looking VERY unlikely
Can't keep writing off debt
FFP Fine
No premiership money or guarantee we'll get promoted.
The problem will be what state the club will be in when he leaves... |
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Reply | FFP
at 16:56 23 Mar 2015
I don't think this is as easy as a simple update from the club because this is VERY muddy waters IMO, BUT I also don't think the club should have released their "We've written of £60m, so we're good people" statement (Excuse the pun). The accounts were shockingly bad and have blatantly been doctored to avoid the fine.
The reason it looks like VERY muddy waters IMO is I'd say the football league can only issue the huge fine IF they have enough "Balls" and a clear indication they will win a legal battle. I cannot see QPR swallowing a huge fine without fighting it legally.
The Football League will have to make a VERY important decision. The position QPR have put them in is very difficult.
IF they Fine QPR, QPR make it a legal battle & QPR win, what will this do to FFP?? (What will the teams who have been relegated and not been able to invest due to FFP fine do?) Also this could take years for a verdict.
IF they fine QPR the amount people are taking about £50m, how can the club survive? Surely this would put the club is an even worse financial state, show how could this be "Financial fair play"?
BUT IF they don't fine QPR what will this do to FFP? How can they in force it going forward??
Boy oh boy its fun being a QPR fan…I reckon they will both agree a fine (Hopefully not a transfer embargo if we go down!)
Either way IF we stay up (Not looking likely I know), we can shelve this debate for another day… I think! |
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Thread | Dick Advocaat
at 08:57 17 Mar 2015
Just got the job @ Sunderland
Should we have appointed him?
I hope I'm proven wrong but Ramsay doesn't look like the answer |
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Reply | Losses Reduced
at 13:50 12 Mar 2015
Fair point, just didn't read right IMO |
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Reply | Losses Reduced
at 11:38 12 Mar 2015
So although related to QPR (Owners/Addresses) its a totally separate company owned by Fernandes & CO… |
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Reply | Losses Reduced
at 11:05 12 Mar 2015
Exactly my point… It's owned by Fernandes and CO… NOT QPR.
So if we get a new stadium who will own it… doesn't look like its the club to me. |
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Reply | Losses Reduced
at 10:15 12 Mar 2015
I've had a good look through these, I am an accountant AND more importantly a QPR supporter…
Heres my views:
1) Its a sea of red… still losing a shed load of money
2) As widely mentioned, The owners have taken the £60m write-off and added it to their profits for the year, therefore actual trading loss QPR made increased from £65,3m to £69.7m. Had the loan NOT been written off borrowing would have increased to £201.4m
3) Mittal isn't into QPR as much as you think. £60m debt written of was £6.6m for Sea Dreams Ltd (Mittal) & £53.4 to Tune Group (Fernandes & Co). Although £6.6m is a LOT of money, for Mittal it's nothing (Worth BILLIONS).
4) AND the most interesting reveal is QPR loans a company called "Rangers Developments Ltd" £4m… this company is owned by Fernandes and CO… NOT QPR!! The company was created in June 2013 and its principle business is listed as "Management of real estate on a fee or contract basis"… This is
Either way you look at it, club STILL made a loss of £69.7m which ever way you look at it… only difference is now QPR owe £60m less to their shareholders.
Cannot see how FFP will stand for this... |
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Reply | Legal (work related) help needed please.
at 15:16 19 Feb 2015
It's not entirely clear what your situation is, but I would highly recommend contacting ACAS on 0800 810 8765… they will be able to advise you. |
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Reply | knee op?
at 16:36 3 Feb 2015
No dignity, no pride… Redknapp again feeding the fans rubbish and deflecting blame whilst Fernandes swallows it, believes it and tries to feds it back to the fans so that there can be a happy ending.
"We're all happy and the best of friends"
Did he twist his knee when leaving the training ground? Maybe he needed a 6ft 3in Togolese striker to help him down the stairs and into his range rover |
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Reply | He's Gone
at 14:51 3 Feb 2015
ANOTHER LESSON LEARNT FOR FERNANDES…
WRITING WAS ON THE WALL WHEN FERNANDES BACKED HIM AND HE DIDN'T SIGN THE NEW DEAL
Happy he's gone |
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Reply | SWP you disgraceful LITTLE man
at 10:15 3 Feb 2015
Not his fault, can't really blame him… blame the man who authorised such a ridiculous contract!
IF he's training well, put your arm around him, tell him he's got a fresh start and he's playing for his future (Whether its for us or another team!). Then throw him in, couldn't do any worse than Hoillett, Phillips or Mutch! |
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