| Fernandes takes out new £27m loan 16:43 - Mar 27 with 16615 views | whittocksRs |
This story just published on a Norwegian financial website. Along with the £15m stadium loan, we now owe banks £42m. This latest loan is secured against our parachute payments, which drop significantly at the end of this season. It's also secured against any potential TV money for the Premier League, which seeing as we're not in the Premier League, seems terrifying. Make of it what you will: http://www.fotballsonen.com/qpr-med-nytt-banklan/ [Post edited 27 Mar 2014 16:44]
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| Fernandes takes out new £27m loan on 16:46 - Mar 27 with 11971 views | bosh67 |
I guess we just have to let them get on with what they are doing. |  |
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| Fernandes takes out new £27m loan on 16:49 - Mar 27 with 11939 views | Gloucs_R |
| Fernandes takes out new £27m loan on 16:46 - Mar 27 by bosh67 |
I guess we just have to let them get on with what they are doing. |
+1 |  |
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| Fernandes takes out new £27m loan on 16:49 - Mar 27 with 11943 views | BrianMcCarthy |
Got a 'head-in-the-sand' smiley for me, please?
And a 'gulp' one, as well. |  |
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| Fernandes takes out new £27m loan on 16:50 - Mar 27 with 11931 views | Jamie |
Nothing to see here.
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| Fernandes takes out new £27m loan on 17:08 - Mar 27 with 11835 views | baz_qpr |
Well if the response is anything to go buy its about building up credit rating, one expects for the financing of Old Oak |  | | |
| Fernandes takes out new £27m loan on 17:09 - Mar 27 with 11822 views | ilovegambling |
it is easy to launder money when you owe it. same as us owing barclaycard 25k, if you walk in to a normal branch with 25k cash question will be asked but if you pay what you owe in cash they say f all. That is what i hope him mittall and bhashir are doing anyway.  |  | | |
| Fernandes takes out new £27m loan on 17:11 - Mar 27 with 11821 views | Lambourn |
| Fernandes takes out new £27m loan on 17:09 - Mar 27 by ilovegambling |
it is easy to launder money when you owe it. same as us owing barclaycard 25k, if you walk in to a normal branch with 25k cash question will be asked but if you pay what you owe in cash they say f all. That is what i hope him mittall and bhashir are doing anyway. |
You would no all about that hey!!!!!!!!!!! |  | | |
| Fernandes takes out new £27m loan on 17:12 - Mar 27 with 11811 views | danehoop |
The interesting piece is the end of the story:
"Statement from the club
After the story was published, QPR’s head of media and communications, Ian Taylor, gave a series of tweets representing the club’s view:
«As an extension of our relationship with Barclays & following an initial loan last year, which has now been repaid in full, the club has agreed a second loan.
As with the previous loan, this demonstrates the clear backing banks want to give our shareholders and the future long-term plans for the club.
The loan is personally guaranteed in full by the club’s shareholders, who remain wholly committed to the club’s short, medium & long-term objectives» "
The good bit is that original £15M has been repaid it seems and the new loan is guaranteed personally by clubs shareholders.
The uncomfortable bit is that wheras the first loan was stadium related this doesnt seem to have that specifivity about it. |  |
| Never knowingly understood |
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| Fernandes takes out new £27m loan on 17:13 - Mar 27 with 11804 views | ilovegambling |
| Fernandes takes out new £27m loan on 17:11 - Mar 27 by Lambourn |
You would no all about that hey!!!!!!!!!!! |
You not out the departure lounge yet? P off to the land of the sandboys. | | | |
| Fernandes takes out new £27m loan on 17:15 - Mar 27 with 11795 views | Lambourn |
| Fernandes takes out new £27m loan on 17:12 - Mar 27 by danehoop |
The interesting piece is the end of the story:
"Statement from the club
After the story was published, QPR’s head of media and communications, Ian Taylor, gave a series of tweets representing the club’s view:
«As an extension of our relationship with Barclays & following an initial loan last year, which has now been repaid in full, the club has agreed a second loan.
As with the previous loan, this demonstrates the clear backing banks want to give our shareholders and the future long-term plans for the club.
The loan is personally guaranteed in full by the club’s shareholders, who remain wholly committed to the club’s short, medium & long-term objectives» "
The good bit is that original £15M has been repaid it seems and the new loan is guaranteed personally by clubs shareholders.
The uncomfortable bit is that wheras the first loan was stadium related this doesnt seem to have that specifivity about it. |
Or they just borrowed another 10 because they couldn't make the original payments!!!! | | | |
| Fernandes takes out new £27m loan on 17:17 - Mar 27 with 11779 views | whittocksRs |
Right, if that's the case then how was the £15m used and repaid, seeing as the loan was for a stadium that has yet to be okayed, let alone built? Was it to pay wages? | | | |
| Fernandes takes out new £27m loan on 17:24 - Mar 27 with 11739 views | ilovegambling |
F.o cant say anymore than that. | | | |
| Fernandes takes out new £27m loan on 17:41 - Mar 27 with 11675 views | 08olesen |
Sell Remy for 20 sell adel for 7-10 and clear all the rest of the hughes signings and we would easily save 40 mill |  |
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| Fernandes takes out new £27m loan on 17:44 - Mar 27 with 11662 views | qpr1976 |
2 points from OP -
Initial £15M loan was paid back in full (Ian Taylor states this in the same article) - It was always a short term loan to improve our credit rating and thus allow us to take out this £27M loan, which (I'm guessing) is about the amount needed to spend on the new Training Ground.
Secondly, our Parachute Payments do not drop significantly after this season. £16M this season, same £16M again next season, then 2 further seasons of £8. so we are expecting a total of £32M in future parachute payments over the next 3 years, assuming we don't achieve promotion in that time.
I hope I got all that right. | | | |
| Fernandes takes out new £27m loan on 17:48 - Mar 27 with 11647 views | whittocksRs |
| Fernandes takes out new £27m loan on 17:44 - Mar 27 by qpr1976 |
2 points from OP -
Initial £15M loan was paid back in full (Ian Taylor states this in the same article) - It was always a short term loan to improve our credit rating and thus allow us to take out this £27M loan, which (I'm guessing) is about the amount needed to spend on the new Training Ground.
Secondly, our Parachute Payments do not drop significantly after this season. £16M this season, same £16M again next season, then 2 further seasons of £8. so we are expecting a total of £32M in future parachute payments over the next 3 years, assuming we don't achieve promotion in that time.
I hope I got all that right. |
You could be right about the parachute payments, though I thought they fell every season.
The first loan definitely was taken out for the new stadium: http://www.standard.co.uk/sport/qpr-play-down-crisis-as-chairman-says-15m-loan-i | | | |
| Fernandes takes out new £27m loan on 17:59 - Mar 27 with 11591 views | nadera78 |
I'm sorry, but the idea that we need to "improve out credit rating" is so utterly ridiculous as to be unbelievable. Our owners have a combined wealth of tens of billions, no bank in the world would turn down a request for financing, especially for the Old Oak development which will make not just millions but billions of pounds in profits. Just have a think about the scale they are talking about - 25,000 residential units, commercial units, leisure facilities, a stadium and indoor arena. And all of that is being done in the name of the owners, not QPR.
I don't know what's going on behind the scenes, but they sure as hell don't need to "improve our credit rating". | | | |
| Fernandes takes out new £27m loan on 18:22 - Mar 27 with 11520 views | Tripper |
| Fernandes takes out new £27m loan on 17:59 - Mar 27 by nadera78 |
I'm sorry, but the idea that we need to "improve out credit rating" is so utterly ridiculous as to be unbelievable. Our owners have a combined wealth of tens of billions, no bank in the world would turn down a request for financing, especially for the Old Oak development which will make not just millions but billions of pounds in profits. Just have a think about the scale they are talking about - 25,000 residential units, commercial units, leisure facilities, a stadium and indoor arena. And all of that is being done in the name of the owners, not QPR.
I don't know what's going on behind the scenes, but they sure as hell don't need to "improve our credit rating". |
This.
The idea that either the Mittal family or the owners of one of the most high profile airlines in Asia have to somehow build up their credit rating like someone tring to recover from defaulting on a Wonga payment is clearly ridiculous. |  | | |
| Fernandes takes out new £27m loan on 18:38 - Mar 27 with 11436 views | qpr1976 |
| Fernandes takes out new £27m loan on 17:59 - Mar 27 by nadera78 |
I'm sorry, but the idea that we need to "improve out credit rating" is so utterly ridiculous as to be unbelievable. Our owners have a combined wealth of tens of billions, no bank in the world would turn down a request for financing, especially for the Old Oak development which will make not just millions but billions of pounds in profits. Just have a think about the scale they are talking about - 25,000 residential units, commercial units, leisure facilities, a stadium and indoor arena. And all of that is being done in the name of the owners, not QPR.
I don't know what's going on behind the scenes, but they sure as hell don't need to "improve our credit rating". |
Well that's what they said when they took out the initial loan of £15M - They dsaid it's will be paid back within a month or 3 and is to improve our credit rating to enable us to borrow more in the future for Mount Farm Training ground and/or Old Oak Common.
so if they are not doing that (and they HAVE paid back the original loan !) then that suggests they are lying.
Now I'm no Business expert (clearly) but just using Briatore as an example, rich businessmen or very rich chancers (whichever you prefer to consider him) rarely use their own money. They borrow others money, and pocket the profit. That's how Tango made his millions.
So I'm fairly relaxed about this new £27M loan - Perhaps others have an agenda or a distrust of the present incumbants of our club.
Mostly I was just pointing out that the initial loan had been paid back - so we are NOT in debt to Barclays for £42M.....AND the Total of £48M in parachute payments is spread over 4 years and split £16M, £16M, £8M, £8M, so we are not taking a large drop this season. | | | |
| Fernandes takes out new £27m loan on 18:45 - Mar 27 with 11403 views | nadera78 |
| Fernandes takes out new £27m loan on 18:38 - Mar 27 by qpr1976 |
Well that's what they said when they took out the initial loan of £15M - They dsaid it's will be paid back within a month or 3 and is to improve our credit rating to enable us to borrow more in the future for Mount Farm Training ground and/or Old Oak Common.
so if they are not doing that (and they HAVE paid back the original loan !) then that suggests they are lying.
Now I'm no Business expert (clearly) but just using Briatore as an example, rich businessmen or very rich chancers (whichever you prefer to consider him) rarely use their own money. They borrow others money, and pocket the profit. That's how Tango made his millions.
So I'm fairly relaxed about this new £27M loan - Perhaps others have an agenda or a distrust of the present incumbants of our club.
Mostly I was just pointing out that the initial loan had been paid back - so we are NOT in debt to Barclays for £42M.....AND the Total of £48M in parachute payments is spread over 4 years and split £16M, £16M, £8M, £8M, so we are not taking a large drop this season. |
When Old Oak gets built it won't be by QPR, it will be by a company owned by Tune and the Mittals. They will undoubtedly borrow the money to do it rather than use their own, but are you seriously trying to suggest that they need to prove their worth? Come off it!
Oh, and it's nice to see that, once again, whenever someone doesn't toe the party line they get accused of having 'an agenda'. | | | |
| Fernandes takes out new £27m loan on 18:51 - Mar 27 with 11371 views | TacticalR |
| Fernandes takes out new £27m loan on 18:22 - Mar 27 by Tripper |
This.
The idea that either the Mittal family or the owners of one of the most high profile airlines in Asia have to somehow build up their credit rating like someone tring to recover from defaulting on a Wonga payment is clearly ridiculous. |
And Holloway's good for a tenner. |  |
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| Fernandes takes out new £27m loan on 19:01 - Mar 27 with 11336 views | qpr1976 |
| Fernandes takes out new £27m loan on 18:45 - Mar 27 by nadera78 |
When Old Oak gets built it won't be by QPR, it will be by a company owned by Tune and the Mittals. They will undoubtedly borrow the money to do it rather than use their own, but are you seriously trying to suggest that they need to prove their worth? Come off it!
Oh, and it's nice to see that, once again, whenever someone doesn't toe the party line they get accused of having 'an agenda'. |
To be fair, I said 'others' not You.
Others DO have an Agenda - I never suggested You do - But clearly you have a distrust of them - Which I did mnetion, although again, not specifically at You.
Back to the point, I see your point about Tune paying for Old Oak, but I'm sure we'll have to stump up something towards it. And it might be worth considering that the Mittals may not be in it for the long run. I'm not sure how much a part they play now, despite their % - Amit is elsewhere most of the time and his Father in Law hasn't really been very public at QPR since the ealry Tango & Cash days.
Maybe they won't be here still ? | | | |
| Fernandes takes out new £27m loan on 19:39 - Mar 27 with 11214 views | QPR1882 |
| Fernandes takes out new £27m loan on 18:38 - Mar 27 by qpr1976 |
Well that's what they said when they took out the initial loan of £15M - They dsaid it's will be paid back within a month or 3 and is to improve our credit rating to enable us to borrow more in the future for Mount Farm Training ground and/or Old Oak Common.
so if they are not doing that (and they HAVE paid back the original loan !) then that suggests they are lying.
Now I'm no Business expert (clearly) but just using Briatore as an example, rich businessmen or very rich chancers (whichever you prefer to consider him) rarely use their own money. They borrow others money, and pocket the profit. That's how Tango made his millions.
So I'm fairly relaxed about this new £27M loan - Perhaps others have an agenda or a distrust of the present incumbants of our club.
Mostly I was just pointing out that the initial loan had been paid back - so we are NOT in debt to Barclays for £42M.....AND the Total of £48M in parachute payments is spread over 4 years and split £16M, £16M, £8M, £8M, so we are not taking a large drop this season. |
We get £60m minimum over 4 years not £48m
Parachute payments to be increased for Premier League's relegated clubs
THE Premier League's relegated clubs are set to be given a helping hand due to a change in parachute payments.
Published: Tue, April 16, 2013
Tony Fernandes' QPR look set to benefit from the increase in parachute payments
Currently clubs that drop down to the Championship receive £48m over four years, however now they are set to receive in excess of £60m over a four-year period from next season.
As it stands, Reading, QPR and Wigan will be the beneficiaries of the new payment scheme.
[Post edited 27 Mar 2014 19:41]
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| Fernandes takes out new £27m loan on 20:44 - Mar 27 with 11053 views | barbicanranger |
the debt vs equity debate.
if this is for building the training ground i'd use debt. also may be needed to prove credit worthiness to banks for us going forward? |  | | |
| Fernandes takes out new £27m loan on 20:44 - Mar 27 with 11052 views | daveB |
| Fernandes takes out new £27m loan on 18:22 - Mar 27 by Tripper |
This.
The idea that either the Mittal family or the owners of one of the most high profile airlines in Asia have to somehow build up their credit rating like someone tring to recover from defaulting on a Wonga payment is clearly ridiculous. |
it's not about how rich the owners are it's qpr taking the loan out who are not rich |  | | |
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