| Statement from bungle 10:34 - Mar 7 with 13248 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 10:36 - Mar 7 with 7812 views | RangersDave |
Not sure calling the owner names is very conducive. |  |
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| Statement from bungle on 10:39 - Mar 7 with 7798 views | Brightonhoop |
| Statement from bungle on 10:36 - Mar 7 by RangersDave |
Not sure calling the owner names is very conducive. |
Have to admire TF's committment. Thank fck it's not Tango and Cash or that plum Paladini. |  | | |
| Statement from bungle on 10:39 - Mar 7 with 7796 views | WeaverQPR |
So no actual mention of the figures in the statement, just waffle. | |
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| Statement from bungle on 10:39 - Mar 7 with 7791 views | Konk |
"While relegation was not part of our strategy" - officially my favourite quote of the day and not because it's QPR or Fernandes, but because it really doesn't need saying, does it?! |  |
| Fulham FC: It's the taking part that counts |
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| Statement from bungle on 10:40 - Mar 7 with 7787 views | RedbourneR |
Those last few lines suggest to me they don't intend to give Harry any money to spend on players till some of the current crop are sold, or the club reduces the wage bill. |  | | |
| Statement from bungle on 10:42 - Mar 7 with 7766 views | WeaverQPR |
| Statement from bungle on 10:40 - Mar 7 by RedbourneR |
Those last few lines suggest to me they don't intend to give Harry any money to spend on players till some of the current crop are sold, or the club reduces the wage bill. |
Problem is nobody wants to buy these players/assets | |
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| Statement from bungle on 10:47 - Mar 7 with 7723 views | bosh67 |
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| Statement from bungle on 10:48 - Mar 7 with 7719 views | peejaybee |
Can Not be any fairer than that. |  |
| If at first you dont succeed, pack up and f**k off home. |
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| Statement from bungle on 10:48 - Mar 7 with 7718 views | francisbowles |
Also no mention of FFP and possible fines etc.
Expect loans to be the ongoing way of bringing in new players. |  | | |
| Statement from bungle on 10:53 - Mar 7 with 7689 views | peejaybee |
Would not expect the FL to allow us to have complete squad of loan players. | |
| If at first you dont succeed, pack up and f**k off home. |
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| Statement from bungle on 10:59 - Mar 7 with 7655 views | 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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| Statement from bungle on 11:04 - Mar 7 with 7618 views | Lblock |
How long before Nero releases a statement saying "beep beep beep beep beep, warning.... Tony reversing..... Beep beep beep beep beep, warning... Tony reversing..."???
This statement is a load of tosh and Warren Farm and Old Oak are currently pipe dreams
We're doomed I tell thee |  |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| Statement from bungle on 11:04 - Mar 7 with 7616 views | Gloucs_R |
| Statement from bungle on 10:42 - Mar 7 by WeaverQPR |
Problem is nobody wants to buy these players/assets |
Most are free agents in the summer, plus money for Adel and Remy.
The next manager will come in with a wage structure set in stone and a transfer budget. Finally.
No need to panic, the debt is internal.....its like owing your dad £500. You know you need to pay him back but there is no rush. |  |
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| Statement from bungle on 11:08 - Mar 7 with 7590 views | Northernr |
| 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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By "assets" I took it to basically mean money from the sale of Remy and Taarabt. He's trotted out this "position to trade" thing before when in reality we've only got one and a half sellable assets in the squad - I mean for serious seven figure sums. |  | | |
| Statement from bungle on 11:10 - Mar 7 with 7575 views | Doughnut |
"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"
This is the interesting/enigmatic bit, for me.
A positive backed up with a negative??? Odd! |  | | |
| Statement from bungle on 11:11 - Mar 7 with 7576 views | daveB |
| Statement from bungle on 11:08 - Mar 7 by Northernr |
By "assets" I took it to basically mean money from the sale of Remy and Taarabt. He's trotted out this "position to trade" thing before when in reality we've only got one and a half sellable assets in the squad - I mean for serious seven figure sums. |
We'd get decent money for Austin as well.
I suppose the fact they are staying is positive but since the accounts were filed we've spent more money on past it players so not really sure anything is going to change here. |  | | |
| Statement from bungle on 11:12 - Mar 7 with 7564 views | ElHoop |
Have we received all that we are entitled to in respect of Sterling yet?
I mean - he's playing a lot of games and Englanding and stuff, so he must be getting close to the full whack, whatever it is. |  | | |
| Statement from bungle on 11:13 - Mar 7 with 7561 views | francisbowles |
How is Harry going to feel about this? I am sure it won't be a surprise but | | | |
| Statement from bungle on 11:14 - Mar 7 with 7552 views | Neil_SI |
| Statement from bungle on 11:08 - Mar 7 by Northernr |
By "assets" I took it to basically mean money from the sale of Remy and Taarabt. He's trotted out this "position to trade" thing before when in reality we've only got one and a half sellable assets in the squad - I mean for serious seven figure sums. |
I wonder if Taarabt's sell on clause is still active, as Tottenham were/are due 40% of either any sale or any profit we make on his sale.
There are obviously a lot of players out of contract, which reduces the amount of wages we have to pay out every month. However, this does not mean there is more money available, and I've seen a lot of clubs fall foul to this in the past.
They had a certain amount of wasted expenditure, and then rather than nip it in the bud, they take the view that if they don't waste as much, then it's okay to spend more as they were used to dealing with a worse scenario before. It's not a sensible approach.
The only other assets we have are Charlie Austin and Matt Phillips. But we shouldn't want to be selling those, and even if we did, there won't be too many clubs willing to pay more than what we have both in transfer fees and salaries. | | | |
| Statement from bungle on 11:14 - Mar 7 with 7549 views | francisbowles |
Will he be able to use any money saved on wages (Budget?) to invest in new players fees and wages? | | | |
| Statement from bungle on 11:16 - Mar 7 with 7539 views | Northernr |
| Statement from bungle on 11:11 - Mar 7 by daveB |
We'd get decent money for Austin as well.
I suppose the fact they are staying is positive but since the accounts were filed we've spent more money on past it players so not really sure anything is going to change here. |
Given his medical history, I'm not sure we'd make any kind of profit on Austin. | | | |
| Statement from bungle on 11:17 - Mar 7 with 7535 views | Gloucs_R |
| Statement from bungle on 11:14 - Mar 7 by francisbowles |
Will he be able to use any money saved on wages (Budget?) to invest in new players fees and wages? |
Yes, hopefully....although I am hoping its a new manager with a fresh approach rather than Harry. | |
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| Statement from bungle on 11:18 - Mar 7 with 7519 views | 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. | | | |
| Statement from bungle on 11:20 - Mar 7 with 7506 views | 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 |  |
| 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 11:26 - Mar 7 with 7466 views | Neil_SI |
| 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. |
Is it really a negative point of view? It's just a different perspective.
I look at it from a different position. I'm worried about the future health of QPR, but I also worry and feel sad for the owners and their investment too. Someone stands to lose a lot, and it's a shame, for both the club and those who have invested their money.
It's not about whether they will walk away or not, it's about wanting the club to be run sensibly and properly — and with respect and care. | | | |
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