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  • QPR accounts

    See this link https://beta.companieshouse.gov.uk/c...filing-history

    Key points:
    Loss down from 47m to 21m (ignore players sales, one off);
    1st year that shareholders have taken some cash out via a 1%/2% per month loan;
    Only 11m of 3rd party debt;
    You should knock at least 10m off next 2 years revenue given parachute payment reduction. Then goes down to nil. So looking at 30m further cost reduction to break-even (Excluding player sales). Then rise to 40m if we still haven’t gone up;
    All good progress though: Cost down to match revenue decline. Owners continue to be supportive ie. 3rd party loan is minimal.

  • #2
    Remember when The ABC loan was a major talking point at 10 million ??

    Thanks for breaking that down to bullet points by the way, very useful
    Under Les Ferdinand:
    Luke Freeman, top assists in the league: 4million
    Alex Smithies, great goalie for this club: 3,5million
    Charlie Austin, 19 Premier League goals: 4million
    Jack Robinson: Contract ran out, left for free
    And many more mistakes

    LES FERDINAND, IT'S TIME TO GO

    Comment


    • #3
      Originally posted by qpr View Post
      Remember when The ABC loan was a major talking point at 10 million ??

      Thanks for breaking that down to bullet points by the way, very useful
      No problem.
      Re. 11m, you have to look at what do we have to pay it off?
      1) Players - Worth much more than when we had the 10 million loan'
      2) Ground - worth much more now than during days of ABC loan
      3) Rich owners
      4) Loan is with a bank not some dodgy company.

      Also - look at our ambitions. We are still looking at a) new ground b) new training ground. And we have bought players.

      And if owners sold, this bank loan would be paid off first before any money goes to current owners.

      Finally - in order to get these interest payments out to shareholders, bank would need to have approved. The plan presented clearly supports these payments.

      Comment


      • #4
        re point 4: Some people would describe Barclays as plenty dodgy.

        I wonder what the collateral is on that 27m?

        Comment


        • #5
          Originally posted by hal9thou View Post
          re point 4: Some people would describe Barclays as plenty dodgy.

          I wonder what the collateral is on that 27m?
          Is the 11m with barclays? No idea. What's the 27m, there is no 27m 3rd party loan. Collateral on 11m is the ground I believe.

          Comment


          • #6
            Knowing where we came from I think an operating loss of £21m before player transfers and a loss after player transfer of just £11m (which I think is the most relevant figure to look at) is really pleasing.

            We know the club has continued to cut costs this season, with the departure of among others Santos, Cherry and Polter, which add to other costly players that left during the summer (Green, Phillips, Hoilet etc). I think we are soon approaching break even.

            I think the most important sentence in the entire report is this one: "Unlike previous seasons, the Club does not view on-pitch performances as the sole key measure of success. While the Club's target will always be to secure at least a play-off place, the focus is to secure the club operates within it means."

            The clubs financial situation is soon healthy as I see it and I think this financial report is very good news.

            Comment


            • #7
              Hoos and Evil steering us into the right direction.
              If we get play offs next season then they will deserve massive props.

              Comment


              • #8
                Originally posted by James1979 View Post
                Is the 11m with barclays? No idea. What's the 27m, there is no 27m 3rd party loan. Collateral on 11m is the ground I believe.
                2014. 15m loan with Barcalys Hong Kong. 27m was inaccurately reported as being the original extent of the loan.

                This account is worth a read James. http://swissramble.blogspot.co.uk/20...-cant-buy.html

                Comment


                • #9
                  As I understand it the loan with Barclays is for the purchase of new facilities (training ground, new stadium).

                  Comment


                  • #10
                    Originally posted by hal9thou View Post
                    2014. 15m loan with Barcalys Hong Kong. 27m was inaccurately reported as being the original extent of the loan.

                    This account is worth a read James. http://swissramble.blogspot.co.uk/20...-cant-buy.html
                    Thanks. Only made it part of the way through but some of what I have read is not right:

                    1) "while the debt surged to a peak of £194 million". – all bar 10m is money from shareholders. Do not look at it as debt, it's very misleading. THe debt is the money we owe 3rd parties. So the c. 10m loan.

                    2) "In fairness to the owners, they have pumped vast sums of money into the club. In the past few months they converted £181 million of debt into capital, which took the amount of debt they have effectively written-off to £246 million, i.e. near enough a quarter of a billion. This money has been largely spent on covering QPR’s losses, most recently seen in the 2014/15 figures, where the loss increased from £10 million to £36 million, despite revenue more than doubling from £39 million to a record £86 million following promotion to the Premier League."

                    Converting debt into equity does not give you cash!! Utter rubbish statement.

                    Comment


                    • #11
                      Originally posted by Kevin Mcleod View Post
                      Hoos and Evil steering us into the right direction.
                      If we get play offs next season then they will deserve massive props.
                      And some people insisted we should have lumped out £12mil and 60k a week of Jordan Rhodes who has done nothing since his move

                      Comment


                      • #12
                        Originally posted by Kevin Mcleod View Post
                        Hoos and Evil steering us into the right direction.
                        If we get play offs next season then they will deserve massive props.
                        completely... £32m off the wage bill, profits on player disposals.

                        seriously good work, looking at how horrible things looked a year or two ago

                        Comment


                        • #13
                          We're getting there.

                          They've done a great job undoing all our crazy over spending. Fair play to Les & Lee.

                          Comment


                          • #14
                            Originally posted by Kevin Mcleod View Post
                            Hoos and Evil steering us into the right direction.
                            If we get play offs next season then they will deserve massive props.
                            Fair play to them, especially Les if that is achieved.

                            Comment


                            • #15
                              That looks encouraging, thanks for sharing and breaking it down James.
                              Top Scorers 2018/2019

                              Nakhi Wells - 8
                              Pawel Wszolek - 6
                              Luke Freeman - 6
                              Matt Smith - 6
                              Ebere Eze - 4
                              Joel Lynch - 3
                              Tomer Hemed - 3
                              Toni Leistner - 2
                              Massimo Luongo- 2
                              Angel Rangel - 2
                              Bright Osayi-Samuel - 2
                              Geoff Cameron - 1
                              Aramide Oteh - 1
                              Jake Bidwell - 1
                              Jordan Cousins - 1

                              Summer Transfers 2019

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