Twitter Rumour TF looking to sell up

[WHITECITYONE]

so the club are basically debt free ONLY of the owners "loans" which have been turned into nominal value shares, all other debt is still outstanding which includes a loan against the ground with Barclays , therefore we don't own that. Also we are losing money each week so the debt will start increasing as the owners will probably have to start lending again to pay creditors/players. If not Administration looms.

Correct

[qprjeff1882]

I think people should be relieved that this board aren't doing a runner and leaving us with the debt like Chris Wright did and wanted QPR to pay him back the money he'd put in. TF always said that the debt is a shareholders debt and the club won't be burdened with it and it has now been cleared. I always say to a mate who supports Ar$enal that is always calling for Ar$ene Wenger to be sacked because they never spent as big as the Chelsea's, Man utd's, and Man city's. Be careful what you wish for it could come back to bite you on your ar$e.

[surrey_hoop]

it is.

Clearly you don't understand the meaning of the word.

[californiahoop]

I think people should be relieved that this board aren't doing a runner and leaving us with the debt like Chris Wright did and wanted QPR to pay him back the money he'd put in. TF always said that the debt is a shareholders debt and the club won't be burdened with it and it has now been cleared. I always say to a mate who supports Ar$enal that is always calling for Ar$ene Wenger to be sacked because they never spent as big as the Chelsea's, Man utd's, and Man city's. Be careful what you wish for it could come back to bite you on your ar$e.

Yep!

[surrey_hoop]

How on gods green earth has he f'ed us royally as you say? he came in after Briatore and spent money on the club, he bought in managers (that through no fault of his own didn't work out) backed them in the transfer market, he is trying to rebuild the infrastructure of this club that is league 1 at best , this all takes time Christ knows when if the training ground will get the go ahead, but he's trying to change the whole club, maybe you would prefer a Briatore type who if you boo him or challenge what he is doing would want your address and ban you from the club, or the Leeds Chairman, i liken TF to the Middlesbrough Chairman and there aren't that many out there, and look how long its taken Gibson to turn B'oro around. Just add he bought ticket prices down to a very fair amount as well for the loyal fans , wonder what we would have been paying under Briatore in the premier league?

Is anything I post going to persuade you otherwise? You've built your Briatore shaped straw men, and are clearly blissful in your ignorance.

[QPR Richard]

Reading the comments of some on here, you would have thought QPR was founded in 2011 by TF. We were a moderately successful, well run club before TF (albeit quite a long time before) and we will be a well run club after him. As for the numpty's arguing what a great man he is for wiping off £180m of debt - all of that debt was accrued during his tenure as owner of the club, so how exactly is he the saviour if he caused the problem in the first place? Let's not forget, this is a man who has a track record of getting his sporting ventures millions in the red, and then riding off into the sunset when he's had enough. He's been here over 4 years, we've bounced from one abject failure of a season to another, and we are in a worse place now than we were when he took over. If he has any sense, he'll cut his loses and run while he still can.

We were a well run club before TF? You don't remember the buckets or administration? You don't remember why the LSA was formed? Do you know why the council put a covenant on LR?

Read your Rangers history and take your tongue out of Hitman's khyber.

[klonk]

Clearly you don't understand the meaning of the word.

yes i do.

[QPR Richard]

Here's some facts that might help you make a reasoned argument

1. When Fernandes took over, QPR were NOT debt free. The accounts three months prior to his purchase show £56million of debt

2. With today's £180million debt for Equity swap, QPR are STILL NOT DEBT FREE! They have other creditors e.g. Barclays lent £27million which is secured on the LR stadium


I hope this helps

Thing is, the bank can't repossess LR and sell it to a property developer. It's got a covenant on it. It's a token gesture by club and bank.

[klonk]

Correct

white, are you sure?

i'd guess that is the case, but i haven't seen any statement of outstanding liabilities since end of may 2014, so can't say whether the barclays loan is still there or not, nor can i say whether the £180m is the total board loans or just the tune qpr share of them... do you have inside knowledge or are you making reasoned guesses (like what i am)?

[Alanwycombe]

Hopefully this is BS. Would rather current owners stay and just run club correctly

Totally agree. We are not big time and things could get a whole lot worse. Look at Leeds. Dave Thomas will have to revive Bulldozer Watch.

[WHITECITYONE]

white, are you sure?

i'd guess that is the case, but i haven't seen any statement of outstanding liabilities since end of may 2014, so can't say whether the barclays loan is still there or not, nor can i say whether the £180m is the total board loans or just the tune qpr share of them... do you have inside knowledge or are you making reasoned guesses (like what i am)?

Afternoon Klonk

I boringly try and stick to published facts.. as you say, the last accounts relate to May 2014.. and these detail the £27m Barclays loan

I remember at the time of the last Barclays loan (March 14) it was revealed that the loan was "secured against assets including Loftus Road and parachute payments" .. given that £8m was due to be repaid within one year, logically the loan outstanding to Barclays is now £19million

Of course Tune/Kingfisher may have repaid this balance ... but there were public announcements on previous loans from Barclays but none this time.. so I'd reason the debt is still outstanding

One things for certain, though. The debt for equity swap of £180.7m relates to the 'release & discharge of interest-free loans'. By implication it doesn't include any outstanding commercial loans such as those made by Barclays

[surrey_hoop]

We were a well run club before TF? You don't remember the buckets or administration? You don't remember why the LSA was formed? Do you know why the council put a covenant on LR?

Read your Rangers history and take your tongue out of Hitman's khyber.

Funny, I'm pretty sure that Briatore and Ecclestone (which was obviously who I was refering to) made us more financially astute and solvent than Fernandes could even wish for. So relatively speaking, yes we were a well run club off the field before Fernandes. Virtually every club is going to make a loss in the modern era, but if you do not consider our current predicament excessive in relation to the previous owners or even most other professional football clubs then there's not much else I can say. I'm not sure how you thought I was talking about the late 90's / early 2000's in my comment. You basically just brought those up to validate your own argument.

I think I know my QPR history thanks, and I try to stear clear from Hitman's ring piece if I can help it.

[surrey_hoop]

yes i do.

Why use it incorrectly then?

[Pyrford Ranger]

Afternoon Klonk

I boringly try and stick to published facts.. as you say, the last accounts relate to May 2014.. and these detail the £27m Barclays loan

I remember at the time of the last Barclays loan (March 14) it was revealed that the loan was "secured against assets including Loftus Road and parachute payments" .. given that £8m was due to be repaid within one year, logically the loan outstanding to Barclays is now £19million

Of course Tune/Kingfisher may have repaid this balance ... but there were public announcements on previous loans from Barclays but none this time.. so I'd reason the debt is still outstanding

One things for certain, though. The debt for equity swap of £180.7m relates to the 'release & discharge of interest-free loans'. By implication it doesn't include any outstanding commercial loans such as those made by Barclays

I would of thought you couldn't turn the other debts outside that of the owners to shares unless Barclays et al agreed to receiving some of those shares for their money owed , which is highly unlikely.

[brightonr]

Anybody still panicking about our very existence due to the level of debt?

There are some right drama queens on here at times.