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QPR Debt Topic - What should be done?

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  • QPR Debt Topic - What should be done?

    Hi All,

    Been a while since I posted on here. With recent news that we are the 5th more indebted club in Europe surely something must be done to stop us having the same fate as many others such as Portsmouth. What should be done to try and avoid going into administration?

    https://www.vavel.com/en/football/86...lub-owner.html

  • #2
    We are solely reliant on our owners so all we can do is hope for the best sadly!

    Comment


    • #3
      Originally posted by Izual_Rebirth View Post
      Hi All,

      Been a while since I posted on here. With recent news that we are the 5th more indebted club in Europe surely something must be done to stop us having the same fate as many others such as Portsmouth. What should be done to try and avoid going into administration?

      https://www.vavel.com/en/football/86...lub-owner.html
      ...except that we're not the 5th most indebted club in europe.

      the quoted article was written in december 2017, but references official numbers published in march 2016, showing the position as it stood in may 2015 (total debt at 31 may 237.248m). figures for a year later show a radically different picture - total debt of 71.194m of which roughly half (35.6m) is due to the current owners. in terms of external debt, although it's not a great position, we're not that much worse than many other clubs.

      it's lazy journalism really. that said, clearly it would be better to live within our means somehow, but i don' think we're anywhere near administration ...unless the league try to fine us 60m over ffp.

      Comment


      • #4
        Lads, lads, lads

        We have only around 10m of debt. The rest of the so-called debt is owed to the owners as shareholder loan. You can’t be put into administration for that. Its not real debt at all. The article isn’t lazy, it’s just wrong and stupid. Don’t get fooled by this nonsense. If the owners start raising money through external parties then maybe it’s time to worry....but I doubt that will happen looking at our financials.

        What we need to do and are doing is making sure our costs match our income so that the owners don’t have to continue putting cash in.....because they won’t do it forever!

        Comment


        • #5
          are we or are we not in debt?
          nsa/cia spy on this..............┌∩┐(◣_◢)┌∩┐

          Comment


          • #6
            Originally posted by Hitman34 View Post
            are we or are we not in debt?
            only someone with access to the club's financial accounting system can tell you the current position. the last published accounts showed the position at 31 may 2016. on that day we had (on paper at least) total debts of 71.2m, which breaks down as follows:

            35.6m shareholder loans
            11.3m bank loan
            12.5m transfer fee installments not yet paid
            2.9m tax owed but not yet paid
            8.9m other stuff that wasn't broken down.

            at the same time, other people owed us 13.0m and the club had 6.2m cash or cash equivalents to hand. so, yeah, we were in debt then.

            Comment


            • #7
              Originally posted by klonk View Post
              only someone with access to the club's financial accounting system can tell you the current position. the last published accounts showed the position at 31 may 2016. on that day we had (on paper at least) total debts of 71.2m, which breaks down as follows:

              35.6m shareholder loans
              11.3m bank loan
              12.5m transfer fee installments not yet paid
              2.9m tax owed but not yet paid
              8.9m other stuff that wasn't broken down.

              at the same time, other people owed us 13.0m and the club had 6.2m cash or cash equivalents to hand. so, yeah, we were in debt then.
              have read somewhere that the bank loan has recently been paid off. cannot think where i read it though.

              thanks for breaking it down klonk.
              nsa/cia spy on this..............┌∩┐(◣_◢)┌∩┐

              Comment


              • #8
                Originally posted by klonk View Post
                only someone with access to the club's financial accounting system can tell you the current position. the last published accounts showed the position at 31 may 2016. on that day we had (on paper at least) total debts of 71.2m, which breaks down as follows:

                35.6m shareholder loans
                11.3m bank loan
                12.5m transfer fee installments not yet paid
                2.9m tax owed but not yet paid
                8.9m other stuff that wasn't broken down.

                at the same time, other people owed us 13.0m and the club had 6.2m cash or cash equivalents to hand. so, yeah, we were in debt then.
                Of the items you list only the bank loan, transfer fee installments and the cash would be included in net debt. So 17.6m of debt. The rest is working capital or shareholder loan.

                Comment


                • #9
                  Yep, so long as owners stick with it we are in far better financial position than we should be.

                  They have business reasons for hanging around. Also though very hard apart from mega teams to make money so suspect hobby element too.

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                  • #10
                    We could contact a debt management company
                    Chelmsford City the home of Radio

                    Comment


                    • #11
                      Hmmmm.... exactly how much better has being an Rs fan rather than a Pompey fan been over past 10 years? Where will we be compared to Pompey in say, 5 years? These are hypothetical questions. I think my point is that doing "a Portsmouth" maybe isn't so bad, particularly if it's a sort of reset that involves rediscovering core values, coming back stronger and, most importantly, being solvent.

                      Comment


                      • #12
                        Originally posted by Abseits View Post
                        Hmmmm.... exactly how much better has being an Rs fan rather than a Pompey fan been over past 10 years? Where will we be compared to Pompey in say, 5 years? These are hypothetical questions. I think my point is that doing "a Portsmouth" maybe isn't so bad, particularly if it's a sort of reset that involves rediscovering core values, coming back stronger and, most importantly, being solvent.
                        i know some glasgow rangers fans , they said going down was the best thing to happen to them , new grounds to visit , home grown talent on show instead of the usual mercanaries

                        Comment


                        • #13
                          Originally posted by 72bus View Post
                          i know some glasgow rangers fans , they said going down was the best thing to happen to them , new grounds to visit , home grown talent on show instead of the usual mercanaries
                          Problem with that though is Glasgow rangers who were only actually called "rangers" were liquidated so they no longer exist. The rangers current club is a brand new club with currently no titles won etc, the rangers fans or a huge majority fail to see that.
                          I don't want that for our rangers at any cost

                          Comment


                          • #14
                            Originally posted by loftbalcony View Post
                            Problem with that though is Glasgow rangers who were only actually called "rangers" were liquidated so they no longer exist. The rangers current club is a brand new club with currently no titles won etc, the rangers fans or a huge majority fail to see that.
                            I don't want that for our rangers at any cost
                            Isn't that a very pedantic view though? If it looks like Rangers, sounds like Rangers, well, it probably is Rangers. You could argue we tried the going down to come back stronger tack several years ago during the "in administration" years but made a pig"s ear of it, mainly due to that buffoon Briatore. Overall, I still believe we need to reset, regroup and rebuild...... there's nothing I'm currently seeing on or off the pitch that makes me think we are going in the right direction or we will progress anytime soon.

                            Comment


                            • #15
                              Originally posted by FurtiveFox View Post
                              We are solely reliant on our owners so all we can do is hope for the best sadly!
                              This is what worries me though. We can't expect the owners to take on more and more debt on our behalf. I just hope we sort out the issues before it gets to the point they are forced to sell.

                              Comment

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