| Statement from bungle 10:34 - Mar 7 with 12921 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 13:09 - Mar 7 with 1285 views | Gloucs_R |
| Statement from bungle on 13:01 - Mar 7 by mikeygunn |
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. |
Yep, but if its your money then nobody else can tell you how to spend / waste it. |  |
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| Statement from bungle on 13:09 - Mar 7 with 1284 views | WeaverQPR |
| Statement from bungle on 13:06 - Mar 7 by johnnyl14 |
Sorry but Remy Tarbs Mbia worth a bit for starters. |
Remy yes agreed. Taarbt 40% goes to Spurs and Mbia is free at the end of the season. | |
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| Statement from bungle on 13:10 - Mar 7 with 1282 views | mikeygunn |
| Statement from bungle on 13:09 - Mar 7 by Gloucs_R |
Yep, but if its your money then nobody else can tell you how to spend / waste it. |
My wife does  |  | | |
| Statement from bungle on 13:12 - Mar 7 with 1275 views | nadera78 |
| Statement from bungle on 13:06 - Mar 7 by johnnyl14 |
Sorry but Remy Tarbs Mbia worth a bit for starters. |
Mbia is out of contract this summer.
We've got four players worth any money - Remy, Taarabt, Austin and Phillips. The first two are guaranteed to go this summer, we'll have to wait and see how much we actually get for them. If we sell the other two as well then at best we'll make our money back, might even make a loss if we're desperate to sell. |  | | |
| Statement from bungle on 13:19 - Mar 7 with 1250 views | whittocksRs |
Reckon we'll make £12m+ for Remy, £6m for Taarabt, £3m for Mbia and Granero and £1m for Park. That's less than £25m and we have no other salable assets. So that part of the statement is shortsighted at best as it does not bring us close to the acceptable losses limit of £8m.
If TF and co choose not to write down the debt, which I believe is now too large for men of their level of wealth to do, we will be hit by FFP fines or transfer embargoes beginning next season (depending on what division we're in).
They might have the right intentions but the cumulative effect of one bad financial decision after another is finally starting to show. | | | |
| Statement from bungle on 13:20 - Mar 7 with 1247 views | mikeygunn |
| Statement from bungle on 13:19 - Mar 7 by whittocksRs |
Reckon we'll make £12m+ for Remy, £6m for Taarabt, £3m for Mbia and Granero and £1m for Park. That's less than £25m and we have no other salable assets. So that part of the statement is shortsighted at best as it does not bring us close to the acceptable losses limit of £8m.
If TF and co choose not to write down the debt, which I believe is now too large for men of their level of wealth to do, we will be hit by FFP fines or transfer embargoes beginning next season (depending on what division we're in).
They might have the right intentions but the cumulative effect of one bad financial decision after another is finally starting to show. |
Mbia & Park are out of contact. | | | |
| Statement from bungle on 13:23 - Mar 7 with 1234 views | whittocksRs |
| Statement from bungle on 13:20 - Mar 7 by mikeygunn |
Mbia & Park are out of contact. |
Then drop that estimate to £20m tops. | | | |
| Statement from bungle on 13:27 - Mar 7 with 1219 views | paulparker |
would be very interested in what we get for Remy
it will go to show how good "Uncle Tone " is in negotiating
remy is worth 25 million and you can bet your bottom dollar an Ashley or Levy would get that , im not holding my breath as I think we will most likely end up with 8 million with harry kane, & tom carroll, as part of the deal |  |
| 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 13:28 - Mar 7 with 1216 views | enfieldargh |
| 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. |
fe%ck me, deja vu al la Brighton on Tuesday.
Better start up a bucket collection
Me, Ostrich, sand, head...in Tone we trust |  |
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| Statement from bungle on 13:55 - Mar 7 with 1159 views | ibnumber10 |
| Statement from bungle on 13:19 - Mar 7 by whittocksRs |
Reckon we'll make £12m+ for Remy, £6m for Taarabt, £3m for Mbia and Granero and £1m for Park. That's less than £25m and we have no other salable assets. So that part of the statement is shortsighted at best as it does not bring us close to the acceptable losses limit of £8m.
If TF and co choose not to write down the debt, which I believe is now too large for men of their level of wealth to do, we will be hit by FFP fines or transfer embargoes beginning next season (depending on what division we're in).
They might have the right intentions but the cumulative effect of one bad financial decision after another is finally starting to show. |
Samba was sold back to Anzhi last July, so that £12m won't be in the latest accounts. Add in Remy's supposedly £2m loan fee to Newcastle that's another £14m to go into the pot | | | |
| Statement from bungle on 14:26 - Mar 7 with 1120 views | Antti_Heinola |
| Statement from bungle on 12:59 - Mar 7 by paulparker |
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 |
ground is worth, what, £20m? Bit more? The kind of debt they have can't be recovered by winding the club up, not by a long chalk. |  |
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| Statement from bungle on 14:29 - Mar 7 with 1113 views | Antti_Heinola |
| Statement from bungle on 13:55 - Mar 7 by ibnumber10 |
Samba was sold back to Anzhi last July, so that £12m won't be in the latest accounts. Add in Remy's supposedly £2m loan fee to Newcastle that's another £14m to go into the pot |
Well, the £12m would never have been *out* of the accounts! We would have paid a couple of installments, maybe £2m? If that? Chances are, the rest were just cancelled and Samba went back for nothing. So don't expect to see £12m come flying in, but on the other hand it never went out either. | |
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| Statement from bungle on 14:31 - Mar 7 with 1114 views | daveB |
| Statement from bungle on 11:27 - Mar 7 by francisbowles |
So what's the alternative! |
alternative is run the club as you would a business. If Air Asia needs a new pilot does he hire a 60 year old with dodgy eyesight on 5 million a year who is past his best but could do with the money or does he look at up and coming pilots who are hungry for an opportunity and can learn from other experiences pilots on sensible wages.
Football isn't rocket science it is pretty easy to get right but even easier to get wrong |  | | |
| Statement from bungle on 14:34 - Mar 7 with 1107 views | Antti_Heinola |
| Statement from bungle on 14:31 - Mar 7 by daveB |
alternative is run the club as you would a business. If Air Asia needs a new pilot does he hire a 60 year old with dodgy eyesight on 5 million a year who is past his best but could do with the money or does he look at up and coming pilots who are hungry for an opportunity and can learn from other experiences pilots on sensible wages.
Football isn't rocket science it is pretty easy to get right but even easier to get wrong |
pretty easy to get right?
are you drunk? | |
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| Statement from bungle on 14:39 - Mar 7 with 1097 views | daveB |
| Statement from bungle on 13:06 - Mar 7 by johnnyl14 |
Sorry but Remy Tarbs Mbia worth a bit for starters. |
mbia out of contract so worth nothing | | | |
| Statement from bungle on 14:40 - Mar 7 with 1094 views | TheBlob |
Don't worry lads a little cost cutting on Air Asia flights for a couple of years will cover everything.Shave a couple of engines off to save fuel,go down to Bookers cash 'n carry for the in-flight nosebag.
I'd be very surprised if the "assets" referred to aren't connected to the airline.There are complex tax breaks you can exploit to generate a bit of extra.Kind of what Capn' Bob used to do down at Oxford before he went for that long swim. |  |
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| Statement from bungle on 14:41 - Mar 7 with 1091 views | daveB |
| Statement from bungle on 14:34 - Mar 7 by Antti_Heinola |
pretty easy to get right?
are you drunk? |
sadly not drunk, what i mean is football is not a difficult sport to succeed in if you get the basics right. Realise your place in the game, buy players who are hungry and see you as a step up and have ability to go beyond you, same with managers, don;t spend more than you earn and if you get that right a very good chance you'll do well. | | | |
| Statement from bungle on 14:44 - Mar 7 with 1081 views | francisbowles |
| Statement from bungle on 14:40 - Mar 7 by TheBlob |
Don't worry lads a little cost cutting on Air Asia flights for a couple of years will cover everything.Shave a couple of engines off to save fuel,go down to Bookers cash 'n carry for the in-flight nosebag.
I'd be very surprised if the "assets" referred to aren't connected to the airline.There are complex tax breaks you can exploit to generate a bit of extra.Kind of what Capn' Bob used to do down at Oxford before he went for that long swim. |
Sincerely hope you are not comparing TF to Maxwell the pension fund robber! | | | |
| Statement from bungle on 14:47 - Mar 7 with 1067 views | Antti_Heinola |
| Statement from bungle on 14:41 - Mar 7 by daveB |
sadly not drunk, what i mean is football is not a difficult sport to succeed in if you get the basics right. Realise your place in the game, buy players who are hungry and see you as a step up and have ability to go beyond you, same with managers, don;t spend more than you earn and if you get that right a very good chance you'll do well. |
huge over-simplification, but point taken. | |
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| Statement from bungle on 14:47 - Mar 7 with 1069 views | TheBlob |
| Statement from bungle on 14:44 - Mar 7 by francisbowles |
Sincerely hope you are not comparing TF to Maxwell the pension fund robber! |
Only in a nice way. | |
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| Statement from bungle on 14:51 - Mar 7 with 1064 views | daveB |
| Statement from bungle on 14:47 - Mar 7 by Antti_Heinola |
huge over-simplification, but point taken. |
of course it is over simplifying but these basic ideas have never been thought of under Uncle Tony and co which is incredible really | | | |
| Statement from bungle on 14:52 - Mar 7 with 1059 views | stansleftfoot |
Presumably this is why all Football Leagues are so competitive, that managers statistics are all so remarkably alike, and that all Football Clubs are fighting at the top table for Championships, Cups, Leagues and the like.
It is precisely because it's not an easy game to be successful in that Charlatans like Hughes, Redknapp, Wally Downes are able to earn a very respectable living pulling the wool over the eyes of successful businessmen.
If it's so easy show me the Club in profit at the top of the table, producing it's own players from an in-house Academy of educated, skillful, responsible, mature footballing students ripe for long careers at the Top level and the international game.
It's easy being a clueless opinionated football fan with no idea how difficult it is to run a Professional Football Club profitably, sustainably, successfully whilst offering a value for money entertainment product. That's what is easy! I know! | | | |
| Statement from bungle on 14:56 - Mar 7 with 1050 views | PinnerPaul |
| Statement from bungle on 14:52 - Mar 7 by stansleftfoot |
Presumably this is why all Football Leagues are so competitive, that managers statistics are all so remarkably alike, and that all Football Clubs are fighting at the top table for Championships, Cups, Leagues and the like.
It is precisely because it's not an easy game to be successful in that Charlatans like Hughes, Redknapp, Wally Downes are able to earn a very respectable living pulling the wool over the eyes of successful businessmen.
If it's so easy show me the Club in profit at the top of the table, producing it's own players from an in-house Academy of educated, skillful, responsible, mature footballing students ripe for long careers at the Top level and the international game.
It's easy being a clueless opinionated football fan with no idea how difficult it is to run a Professional Football Club profitably, sustainably, successfully whilst offering a value for money entertainment product. That's what is easy! I know! |
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| Statement from bungle on 15:00 - Mar 7 with 1043 views | Northernr |
| Statement from bungle on 14:52 - Mar 7 by stansleftfoot |
Presumably this is why all Football Leagues are so competitive, that managers statistics are all so remarkably alike, and that all Football Clubs are fighting at the top table for Championships, Cups, Leagues and the like.
It is precisely because it's not an easy game to be successful in that Charlatans like Hughes, Redknapp, Wally Downes are able to earn a very respectable living pulling the wool over the eyes of successful businessmen.
If it's so easy show me the Club in profit at the top of the table, producing it's own players from an in-house Academy of educated, skillful, responsible, mature footballing students ripe for long careers at the Top level and the international game.
It's easy being a clueless opinionated football fan with no idea how difficult it is to run a Professional Football Club profitably, sustainably, successfully whilst offering a value for money entertainment product. That's what is easy! I know! |
All true, but it's not difficult to know that if your turnover is £63m and your wage bill is £78m then you're being really fcking stupid. |  | | |
| Statement from bungle on 15:13 - Mar 7 with 1012 views | Antti_Heinola |
| Statement from bungle on 15:00 - Mar 7 by Northernr |
All true, but it's not difficult to know that if your turnover is £63m and your wage bill is £78m then you're being really fcking stupid. |
Well, is it? You have a decent manager who comfortably keeps team in the Prem league, and he's saying you need these players. You buy them, thinking well this is our big outlay now - in future, outlays will be smaller because we're building a base and the Prem money is increasing. In 5 years we have a new stadium and new training ground. It's an investment. When you take a long term view, it's a risk, but probably one they judged worth taking. People were excited by Granero. Cisse had had a great pre-season. Mbia was seen as a coup. Park was a signing that might bring in more revenue and while he was not good enough for Man U, plenty of other Prem clubs would have taken him.
Now in retrospect it looks, as you say, fcking stupid. But at the time very, very few people said that. Most pundits had us finishing mid-table with our new signings. | |
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