FFP Update

[CincyHoop]

I don't think anyone has brought this up yet.....The fact that it is "only" 8M isn't the only thing and we are out of the woods. But lets not forget that the owners already wrote off 60 million dollars, as much as this is a hobby or a passion doesn't mean they aren't looking to recoup some of that money before they start splashing the cash again. I think this strategy will take more time, but we will bear the fruits of these investments in younger players from lower leagues. If you hit on 1 or 2 of them and can sell them for big money, then it makes all the investments in other players a wash. Essentially like taking a bunch of cheap lotto tickets that you can get milage out of, rather than a few tickets on players just looking for their latest payday. I for one, selfishly want them back up as soon as possible for my viewing pleasure in the states, but I am willing to be patient. Within 5 years we will be back up. I don't know if Ramsey is the right "manager" but I think Les has a good recruitment strategy and strategy for our long term well being.

[cross it Dave]

Cincy old chap, i believe it was £60 million pounds sterling, that's about $95 million of your US dollars.

But what's 35 million bucks amongst chums.

A mere bagatelle to our board.

[CincyHoop]

Dave, hahaha, I could find that in the couch cushions. I always forget the stupid currency.

[Kirill]

Where did you conjure that figure up from?

From harsh reality?

[Ginger Ninja]

From harsh reality?

Unless there's a link or something that proves it's £200m, it's more fantasy than reality.

[Kirill]

Unless there's a link or something that proves it's £200m, it's more fantasy than reality.

You are right, it is probably more than that by now.

[brightonr]

Seem to recall an article some time ago mentioning that the "debt" was well over £200m. Since then, the owners have written off £60m, which apart from proving goodwill, was a wise move due to the fact that it had the desired effect in relation to the ridiculous FFP fine that was never going to be enforced. Never, ever. And anybody thinking that there was the slightest chance of it happening needed medical help.

This argument will go on forever all the while people have differing opinions on the facts.

My take is that we have lost stupid amounts of money, by making stupid decisions and they needed to stop. It's a situation that we as a club should be thoroughly embarrassed and ashamed of, but that doesn't alter the fact that it's not really debt as such. More a case of the owners having thrown away much of their investment. That's their perogative though and I have little sympathy for them in that regard. Referring to it as debt though, is a little silly, as they only owe themselves money and apart from not wanting to make matters worse, have repeatedly stated that they view us as a long term commitment and have actually done nothing to make anybody reasonably think otherwise.

For those who are still worried about the bailiffs showing up, I can't see the owners suing themselves in order to get their money back, so my advice would be to relax about this stuff and pray that we can start addressing the far more pressing issues of being able to play football far better than we have shown signs of doing so far under CR.

[Glevum_Hoop]

Seem to recall an article some time ago mentioning that the "debt" was well over £200m. Since then, the owners have written off £60m, which apart from proving goodwill, was a wise move due to the fact that it had the desired effect in relation to the ridiculous FFP fine that was never going to be enforced. Never, ever. And anybody thinking that there was the slightest chance of it happening needed medical help.

This argument will go on forever all the while people have differing opinions on the facts.

My take is that we have lost stupid amounts of money, by making stupid decisions and they needed to stop. It's a situation that we as a club should be thoroughly embarrassed and ashamed of, but that doesn't alter the fact that it's not really debt as such. More a case of the owners having thrown away much of their investment. That's their perogative though and I have little sympathy for them in that regard. Referring to it as debt though, is a little silly, as they only owe themselves money and apart from not wanting to make matters worse, have repeatedly stated that they view us as a long term commitment and have actually done nothing to make anybody reasonably think otherwise.

For those who are still worried about the bailiffs showing up, I can't see the owners suing themselves in order to get their money back, so my advice would be to relax about this stuff and pray that we can start addressing the far more pressing issues of being able to play football far better than we have shown signs of doing so far under CR.

Good post - I believe the only actual "debt" is the 10 million we borrowed from Barclays ref the new ground? And I assume we haven't spent that as there's been no progress on that front?

[Kirill]

Good post - I believe the only actual "debt" is the 10 million we borrowed from Barclays ref the new ground? And I assume we haven't spent that as there's been no progress on that front?

Why would our minted saviours need to borrow a measly 10 million while writing off 60 million?

[West London is Rss]

How oh how have we gone from 2011 Championship champion promotion to mid-table championship obscurity again, with an £8 million fine for the times in the Prem we were supposed to enjoy...

We waited so long to get there again and built such a good team and ethos on budget, all for it to be fvcking ruined.

It's inexcusable really... Fernandes is a nice guy but how people can love him so much nowadays is beyond me.

[brightonr]

Why would our minted saviours need to borrow a measly 10 million while writing off 60 million?

I think they stated at the time that it was mainly a way of starting a relationship with Barclays, who they were planning on borrowing from to assist with the funding of the new training ground and presumably the bigger project of a new stadium.
(Or the white elephant as some see it as )

[Glevum_Hoop]

How oh how have we gone from 2011 Championship champion promotion to mid-table championship obscurity again, with an £8 million fine for the times in the Prem we were supposed to enjoy...

We waited so long to get there again and built such a good team and ethos on budget, all for it to be fvcking ruined.

It's inexcusable really... Fernandes is a nice guy but how people can love him so much nowadays is beyond me.

Inexcusable or just plain naïve - for me its the latter.

[Kirill]

I think they stated at the time that it was mainly a way of starting a relationship with Barclays, who they were planning on borrowing from to assist with the funding of the new training ground and presumably the bigger project of a new stadium.
(Or the white elephant as some see it as )

Why would they require a bank's assistance for this? They are supposed to be so rich and dedicated that the will gladly pay all QPR expenses out of their bottomless pockets. Or so I have been told countless times on this messageboard and ridiculed/insulted when I dared question that fantastic fiscal arrangement.

[upperloft]

Only debt £10m... Nah. Don't think so.

[Kirill]

Only debt £10m... Nah. Don't think so.

Precisely, that head-in-sand mentality is so sad.

The roof, the roof, the roof is on fire!
We don't need no water—Let the motherf*cker burn!
Burn, motherf*cker, burn!