QPR accounts for 2012/13 season

[Ginger Ninja]

Fernandes leaving and Amit being chairman would be excellent news for the club

would it really? because i've seen nothing from the mittals in the last few years to suggest they are that interested.

[Rangersw12]

EXACTLY.. and the only people who seem to be saying this, are the people who understand accounts.

Everyone else (especially some d1ckhead rangers fans on twitter, going by the names of @JordanQPR10 and @ScottJonesy) don't understand and basically look at the one bit of the accounts. 'Total debt'.. they just see it as more ammunition to jump on Fernandes back and give him more agg about the club.
All they have done is tweet him and dig him out. When I don't get what that achieves.. other than make Tony question his ownership of the club.

We as fans need to be VERY VERY careful about what we wish for and what we say. you keep berating someone enough and they will walk. No matter how stronger a person they are.. And Fernandes leaving would be the worse thing for the club.

Fernandes leaving and Amit being chairman would be excellent news for the club

[West London is Rss]

I'm sure this has been mentioned before but:
the only true debt seems to be the £15m and this is backed by the 21m stadium
Everything else is capital injected by companies owned by the shareholders - therefore in effect shareholder funds
Yes they can call the money back at anytime from the accounts but is this likely? They own the company
The £8m gate receipts is pathetic and you can see why we need a new stadium. We either move or become league 1 club
The shareholders (eg Tony) will have injected capital as they have for tax reasons I imagine.
In short the net debt is actually £11.4m (15 less the cash)

EXACTLY.. and the only people who seem to be saying this, are the people who understand accounts.

Everyone else (especially some d1ckhead rangers fans on twitter, going by the names of @JordanQPR10 and @ScottJonesy) don't understand and basically look at the one bit of the accounts. 'Total debt'.. they just see it as more ammunition to jump on Fernandes back and give him more agg about the club.
All they have done is tweet him and dig him out. When I don't get what that achieves.. other than make Tony question his ownership of the club.

We as fans need to be VERY VERY careful about what we wish for and what we say. you keep berating someone enough and they will walk. No matter how stronger a person they are.. And Fernandes leaving would be the worse thing for the club.

[James1979]

I'm sure this has been mentioned before but:
the only true debt seems to be the £15m and this is backed by the 21m stadium
Everything else is capital injected by companies owned by the shareholders - therefore in effect shareholder funds
Yes they can call the money back at anytime from the accounts but is this likely? They own the company
The £8m gate receipts is pathetic and you can see why we need a new stadium. We either move or become league 1 club
The shareholders (eg Tony) will have injected capital as they have for tax reasons I imagine.
In short the net debt is actually £11.4m (15 less the cash)

[West London is Rss]

so your argument for why TF won't leave us in the shyte is that he has some other businesses, is an accountant, and has a good PR

...seriously?

The main point about this though isn't whether or not TF will actually ditch us - I don't think he will, the "muti-purpose sports arena" for which our club is a vehicle is too great a prize.

The issue is that we're now at a stage where we are completely at the mercy of a few rich people.

Every club is now.. Some of the older boys might not like it but as Nick said. Its the way football has gone. like it or not

[Nick]

so your argument for why TF won't leave us in the shyte is that he has some other businesses, is an accountant, and has a good PR

...seriously?

The main point about this though isn't whether or not TF will actually ditch us - I don't think he will, the "muti-purpose sports arena" for which our club is a vehicle is too great a prize.

The issue is that we're now at a stage where we are completely at the mercy of a few rich people.

That is true.. for now.
Plus if these rich people are so determined to make this work and will only leave us once this (there business project) is a success, then what's the problem?

[Stanley]

The issue is that we're now at a stage where we are completely at the mercy of a few rich people.

Yes we are. So whats your point?

How far back in time would you like to go when we had better owners?...Jim Gregory?

[Geng]

Its not our debt for god sake lol.. its the shareholders debt.. Have you read the statement. We now have Assets to sell..
The only debt we have is on wages, around 68 mill.. this is a lot I admit but its exactly the same amount as other clubs.. The shareholders aint gona get that money back and they know that.. They know and have said you have to make an investment in a new business.. our chairman has 3 business's, is extremely interactive with the fans and is an accountant.. Do you really think he is gona leave us in the sh1t?.. Your worrying over nothing and do not understand the facts or accounts

so your argument for why TF won't leave us in the shyte is that he has some other businesses, is an accountant, and has a good PR

...seriously?

The main point about this though isn't whether or not TF will actually ditch us - I don't think he will, the "muti-purpose sports arena" for which our club is a vehicle is too great a prize.

The issue is that we're now at a stage where we are completely at the mercy of a few rich people.

[Geng]

It seems the only people who are willing to accept its not a massive issue, are the people who actually understand accounts

and accountant and someone who just graduated in sports finance have both posted in this thread saying that, yes, this is a massive issue

[West London is Rss]

Really? The issue isn't how much debt we have... it's that if we don't get promoted we'll have another 70M loss next year and another 70M loss the year after that. We have to start breaking even before we can even think about paying the debt back.

Its not our debt for god sake lol.. its the shareholders debt.. Have you read the statement. We now have Assets to sell..
The only debt we have is on wages, around 68 mill.. this is a lot I admit but its exactly the same amount as other clubs.. The shareholders aint gona get that money back and they know that.. They know and have said you have to make an investment in a new business.. our chairman has 3 business's, is extremely interactive with the fans and is an accountant.. Do you really think he is gona leave us in the sh1t?.. Your worrying over nothing and do not understand the facts or accounts

[Izual_Rebirth]

It seems the only people who are willing to accept its not a massive issue, are the people who actually understand accounts

Really? The issue isn't how much debt we have... it's that if we don't get promoted we'll have another 70M loss next year and another 70M loss the year after that. We have to start breaking even before we can even think about paying the debt back.

[West London is Rss]

It seems the only people who are willing to accept its not a massive issue, are the people who actually understand accounts

[Kevin Mcleod]

Very good post Daz.

[klonk]

i think one problem we'll have going forward is the amortisation of players' contracts - we spent over £40m in 2012/13 - but only a fraction of that has been put through the operating statement. put simply, rather than recognise the full cost of buying a player in the financial year that he gets bought, the purchase cost is amortised (spread evenly) across the operating statements for the duration of the player's contract or until he gets sold (even if he's sent out on loan).

so if we signed a player on a four-year contract for £8m in summer 2012 and paid him £50k a week (equal to £2.5m a year), then in the 2012-13 accounts his cost is £4.5m (£2m amortisation and £2.5m wages). say he then went on loan for this season with all his wages paid by the club that he's on loan to... there's still going to be a amortisation charge of £2m to this year's operating statement just just because he's under contract to us.

(and if, say, we terminate the contract of this player at the end of this season to cut costs, then in addition to any pay-off we'd need to give the player going to the operating statement, we'd also need to write off the remaining 2 years amortisation costs of £4m).

it's a horrible mess... if we spent £40m, then i'd guess around about £25m is still waiting to go through the books over the next couple of seasons...

[3London]

Only £15million is debt owed outside of the club to a bank as a working capital loan. No crippling 7% interest on any loans etc. why would the board call in a debt knowing the club couldn't pay it. Ill ignore any spin or press reports. Cardiff and others next season will far outweigh us but we'll still be the one in the headlines. Just wish our fan base would jump on board supporting the team as much as they do with regards to all the negative stuff printed. See you all at Birmingham on Saturday and Brighton on Tuesday for those who really give a sh1t about the club. Said my bit!

Completely agree.