Twitter Rumour TF looking to sell up

[Kevin Mcleod]

We were already IN the PL when he took over, so why would we have needed to get IN again, Wembley or otherwise? As for the OUT of the PL bit, that is not an achievement in my book.

Experienced Managers let the chairman down, like happens to so many clubs bigger than us who are in the championship and have been for years. It's football not painting by numbers,.

@Surrey, he's paid for it, so why does it bother you? Did you have to put any shrapnel in buckets?

[klonk]

Don't really understand the document posted but I don't see anyones signature on it so I'll believe it when I hear it from the horses mouth.

If we've just had 180million debt wiped off, that would be a good day in anyones book. Looks like a Al-Fayed move to me.

really? it's on the companies house website... the uk government's company registry - there is no better horse's mouth around.

certainly looks like the beginning of the end game for tf and co, can't see any other reason for taking such a massive hit.

[surrey_hoop]

Experienced Managers let the chairman down, like happens to so many clubs bigger than us who are in the championship and have been for years. It's football not painting by numbers,.

@Surrey, he's paid for it, so why does it bother you? Did you have to put any shrapnel in buckets?

Experienced managers that he hired, and showed entirely too much faith in. It isn't painting by numbers, but it is common sense. Keeping a manager without a win all season until December (as in the case of Hughes) was a decision that to this day I don't think any of us understood.

Why does it bother me? Probably because I'd quite like to continue to watch QPR after he's finished with us, which won't be possible if he continues to run the club into the ground.

[Hitman34]

really? it's on the companies house website... the uk government's company registry - there is no better horse's mouth around.

certainly looks like the beginning of the end game for tf and co, can't see any other reason for taking such a massive hit.

Great news then. Goodbye uncle bumble. Don't forget your red nose and over sized stripey trousers on the way out.

[bakes8]

really? it's on the companies house website... the uk government's company registry - there is no better horse's mouth around.

certainly looks like the beginning of the end game for tf and co, can't see any other reason for taking such a massive hit.

Yeh, sorry. Posted before I saw the full 4 page document. Still don't really understand what it meant tho, 180m of debt turned into shares valued at 0.01p? Effectively wiping out that debt? Would defo be paving the way for sale if that's what it means. Makes the club a far more attractive sale, effectively debt free.

[surrey_hoop]

Great news then. Goodbye uncle bumble. Don't forget your red nose and over sized stripey trousers on the way out.

Some on here will be blubbing more than the Koreans when Kim Jung Il turned his toes up.

[Kevin Mcleod]

Experienced managers that he hired, and showed entirely too much faith in. It isn't painting by numbers, but it is common sense. Keeping a manager without a win all season until December (as in the case of Hughes) was a decision that to this day I don't think any of us understood.

Why does it bother me? Probably because I'd quite like to continue to watch QPR after he's finished with us, which won't be possible if he continues to run the club into the ground.

That's it, I'm out with conversing with you on this now. More tosh than hitman and hamster put together. He's just made qpr a massive attraction with not a penny of money owed to anyone.
And he's running us into the ground by writing off a quarter of a billion quid. You are just spouting nonsense to keep up the agenda and you can do what you like on a forum, doesn't make it correct.

[surrey_hoop]

That's it, I'm out with conversing with you on this know. More tosh than hitman and hamster put together. He's just made qpr a massive attraction with not a penny of money owed to anyone.
And he's running us into the ground by writing off a quarter of a billion quid. You are just spouting nonsense to keep up the agenda.

He's made QPR a "massive attraction"? To who exactly? Believe me, you post your fair share of tosh as well.

[Kevin Mcleod]

http://metro.co.uk/2015/08/27/recent-study-shows-debt-in-the-championship-is-now-over-1billion-as-bolton-top-the-table-5363448/

Only two clubs in the championship who are totally debt free, and they played each other in a nil nil draw at Loftus Road on Saturday.

[Kevin Mcleod]

Massive day for this football club, an amazing thing to put all worries of a Portsmouth ever happening have all been erased by a very generous board who spent fortunes of their own money of a dream of trying to make us a top half premiership club. Who knows if that might happen in the next couple of years, nobody.
The usual suspects not being over the moon says it all for me, so I'm going to leave it alone now and just celebrate in the pubs at the Bush at the next home game.
We screamed for Ramsey to go, they listened he's gone, we worried about a debt so they wiped it.
The futures so bright we will all be wearing shades in November.

[klonk]

Yeh, sorry. Posted before I saw the full 4 page document. Still don't really understand what it meant tho, 180m of debt turned into shares valued at 0.01p? Effectively wiping out that debt? Would defo be paving the way for sale if that's what it means. Makes the club a far more attractive sale, effectively debt free.

yep... your interpretation seems to be basically correct, £180m of debt has been converted into shares and distributed to whoever that debt was owed to.

what's not completely clear is whether the £180m represents all the debt or just part of it. the last snapshot of the debt that we had was the position at 31 may 2014 (so 17 months earlier). back then (after the £60m write-off), total debt to the board amounted to £158.084m which was broken down to:

£115.277m to tune qpr (tf, ruben etc)
£32.806m to sea dream (amit and he mittals)
£10.000m to a joint company solely owned by tune qpr and sea dream

clearly, despite the land of plenty that the prem is, we've continued to spend way beyond our means - debt has grown by at least a further £22m in the intervening 17 months. it's far from impossible that the conversion to shares is only the tune qpr part of the debt (remember that the £60m write-off was £53.4m from tune qpr and only £6.6m from sea dream).

[Hitman34]

It had to happen though, no way could this continue the way it's been for the last 4 years.

Just hope we get a decent owner now instead of another part time clown with money who has not got a Scooby.

[FurtiveFox]

It had to happen though, no way could this continue the way it's been for the last 4 years.

Just hope we get a decent owner now instead of another part time clown with money who has not got a Scooby.

Are you only happy when you are moaning?

I suspect writing off this type of debt is virtually unheard of, at this level anyway. If they wanted to screw the club over they would have bankrupted it and sold what they could to recuperate at least a small portion of their outlay given they would be main creditors. Instead of that they appear to have acted honourably. For my part I'd rather they stay.

You moan about them being clowns who do not know what they are doing. They are all extremely successful businessmen. What they do not know is football so they recruited people who do to run the footballing side. These people have been in place a matter of months. Were you expecting perhaps to win the Champions League this season?

One duff manager appointment does not make the new structure a long term failure.

[Hitman34]

Not unheard of at all. Ask foolham. As for wiping the debt, he has not.
Converted it into shares and will scramble back some of his loss I'm sure.

Its a good day for all qpr today. Am happy.

[surrey_hoop]

Massive day for this football club, an amazing thing to put all worries of a Portsmouth ever happening have all been erased by a very generous board who spent fortunes of their own money of a dream of trying to make us a top half premiership club. Who knows if that might happen in the next couple of years, nobody.
The usual suspects not being over the moon says it all for me, so I'm going to leave it alone now and just celebrate in the pubs at the Bush at the next home game.
We screamed for Ramsey to go, they listened he's gone, we worried about a debt so they wiped it.
The futures so bright we will all be wearing shades in November.

If TF ever needs a PR assistant, he could do a lot worse than to give you a call.