QPR accounts for 2012/13 season

[Connell10]

im not letting any of this worry me, its not my debt its tonys and his mates, if it all goes ****-up ill still be watching rangers in what ever league they are in! DONT WORRY BE HAPPY!

[kron-1664]

Why the hell would you buy a football club. These figures are disgusting. How any businessman can get into a situation like this is beyond me. He's in the Eartha big time.

[klonk]

So, EUR 74.5 was for the 2011/12 season and EUR 99.8 was for the 2012/13 season then? Or is it EUR 74.5 for the 2012/13 season and EUR 99.8 for the 2013/24 season. German efficiency leads me to believe it is the latter, in which case the original statement is shockingly correct (for the 2012/13 season, at least).

i'm fairly sure that it's just very badly translated from german and that the €99.8m relates to 2012/13 spend. my german's not so bad and the original german text ("Die Personalaufwendungen der Gesellschaft im Einzelabschluss erhöhten sich im abgelaufenen Geschäftsjahr von EUR 74,5 Mio. um EUR 25,3 Mio. auf EUR 99,8 Mio") translates as it being for 2012/13.

[dsqpr]

actually, we're not...

from bvb dortmund's website: "Personnel expenses of the company in the individual financial statement increased from EUR 74.5 Mio. by EUR 25.3 Mio. to EUR 99.8 Mio."

at an exchange rate of €1.20 per £ (slightly higher than what it actually was across that period) that's £83.2m, so actually £5.2m (or £100,000 a week) higher than us. it's still embarrassing, but not quite as bad...

So, EUR 74.5 was for the 2011/12 season and EUR 99.8 was for the 2012/13 season then? Or is it EUR 74.5 for the 2012/13 season and EUR 99.8 for the 2013/24 season. German efficiency leads me to believe it is the latter, in which case the original statement is shockingly correct (for the 2012/13 season, at least).

[klonk]

We're spending more on wages than Borussia Dortmund..

actually, we're not...

from bvb dortmund's website: "Personnel expenses of the company in the individual financial statement increased from EUR 74.5 Mio. by EUR 25.3 Mio. to EUR 99.8 Mio."

at an exchange rate of €1.20 per £ (slightly higher than what it actually was across that period) that's £83.2m, so actually £5.2m (or £100,000 a week) higher than us. it's still embarrassing, but not quite as bad...

[West Acton]

Plenty of finger pointing on this thread and some with particularly short memories

You would think QPR have been debt free for years and only in the last year have we amounted debt. Let's be having it straight QPR have been in debt and more or less living hand to mouth for approaching 20years in fact since we hounded out the last owner that ran the club as a business Richard Thompson

Only difference now is debt is bigger all owners since Thompson have run up the debt for varying reasons

[klonk]

One number that really jumped out at me was £11.696M for ADMINISTRATIVE EXPENSES?! (P7). That is almost 50% more than our entire gate revenue!

Does anybody know how that number can be so big? I guess it includes agents' fees but even so I'd like more details on where that money went.

no idea... usually this would cover typical overhead costs - accounting, hr, admin etc.

given how big it is, i'd guess agents' fees and pay-offs (hughes' team, rigg, cisse's pay-off etc), but not sure i'd call any of those 'admin'.

[hal9thou]

This was why I had problems with the Tracy Island fantasy (aka old oak) - everyone knew we were going to report huge losses, which meant outside investors would be needed to complete TI. Sure enough in they came in corporate form. What all this boils down to is that there will be a further level of indebtedness way beyond 65m in the event of TI going ahead. If we miss out on promotion (which may be a blessing in disguise) we will miss out sharing in the biggest media rights deal of all time. Which - again as predicted on here - actually means a decent income stream even with small stadia like LR (which we can't fill anyway.)

Now maybe people can understand why some of us were so opposed to the concept of a new ground from the off. We simply are not in a fit state on or off the park.

[Ginger Ninja]

Can't wait for Harry's press conference today who I'm sure will be asked about this and what he knows

Here's my guess at his response

' I just deal with football matters, I know nothing........'
' since I've been here with shipped out 18 players who were earning a fortune ....'
' I've replaced these players with mainly free transfers .....'
' if someone had said at the start of the season we'd be 4th now I would have said they are mad ....'
'The chairmans a good man - I'm sure things are under control financially ....'
' Birmingham are a huge club with a fantastic young manager ....'


What have I missed?

"Triffic"

[Mem]

Can't wait for Harry's press conference tomorrow who I'm sure will be asked about this and what he knows

Here's my guess at his response

' I just deal with football matters, I know nothing........'
' since I've been here with shipped out 18 players who were earning a fortune ....'
' I've replaced these players with mainly free transfers .....'
' if someone had said at the start of the season we'd be 4th now I would have said they are mad ....'
'The chairmans a good man - I'm sure things are under control financially ....'
' Birmingham are a huge club with a fantastic young manager ....'


What have I missed?

[twranger]

I cant eat i am so worried

v good, hope you're joking and being sarky!

[Ginger Ninja]

Course it's not good reading but why are people acting so surprised? We've known for years we were expending huge sums more than the club brings in - even my simple mind can tell you that results in accumulating debt. My point is that I'm not sitting here saying all is fine n dandy, I don't know the first thing about what's going on behind the scenes, financially, at our club. And nor does anybody else on here so I just it cringe worthy reading some of the dramatic responses.

Nail on head Matty

[ollyhoops]

I'm still surprised they are still considering building a new stadium and completing the new training ground to be honest.

I'd rather go into administration now and form a new holdings ltd to start again fresh.

[Mellowhoop]

I cant eat i am so worried

[MattyRangers]

Silly comment mate.

Doesn't take a genius/expert to see where the club has gone wrong and you cant fault those that just want the best for their club.

We are bang in trouble if this continues.

Course it's not good reading but why are people acting so surprised? We've known for years we were expending huge sums more than the club brings in - even my simple mind can tell you that results in accumulating debt. My point is that I'm not sitting here saying all is fine n dandy, I don't know the first thing about what's going on behind the scenes, financially, at our club. And nor does anybody else on here so I just it cringe worthy reading some of the dramatic responses.