£1m a month loss

[W12_Ranger]

well losses on c-club and exec boxes would be that amount but as we never sold em...

our debts will be around £30-40m next accounts i fear....

I fear you could be right mate, I have just found this summary on Reports site, certainly suggest we coulld be heading that way. Can anyone tell me when these figures run up to, is it June 2008?

From the last set of acounts (June 2009)

- Group operating losses exceeded £6.0 million, an increase of 27% on prior year

- Net debt as at 31 May 2008 has increased to £19.9 million (2007 – £18.0 million).

- The Group’s administrative expenses grew to £5.9 million (2007 - £3.5 million). In order to support the growth of the business next year, the number of non-playing staff increased by 10 during the year and is expected to rise further.

- Included within long termcreditors are the following unsecured convertible loans:
A £8,600,000 loan from Sarita Capital Investments, interest bearing at 7% and is repayable on demand.

- A £500,000 loan fromValentin Ehmer, interest bearing at 8.72%and is repayable on 29 April 2010.

- A £2,000,000 (interest free) loan owing to Mr A Caliendo is repayable on 28 February 2011 and redeemable at any time prior to that date at the sole discretion of QPR.

- Football staff salaries also increased by 15% due to costs connected with termination of John Gregory and Luigi De Canio contracts."

The highest paid director received £196,670 during the year.

- During the year, the company paid consultancy fees amounting to £75,000 (2007: £73,750) to Moorbound Ltd, a company in which O Paladini, the wife of G Paladini, a director, is the only shareholder.

- In addition the company provided an interest free loan of £140,000 (2007:£nil) to G Paladini


Is there any financial heads out there who can put a ball park figure on our next operating loss?

[eghamhoop]

Football staff salaries also increased by 15% due to costs connected with termination of John Gregory and Luigi De Canio contracts."
dont understand according to flav gigi left!!!!

[qprmarc]

how about put the structure in place first... (stability and quality players) therefore encouraging more people to come watch games....increase in revenue all round.

[eghamhoop]

Why do you fear for our club ?

We were going into administration before Briatore came and would probably end up going into it if he leaves.

I honestly don't know but is there a big difference if your debt is say 45 Million as opposed 20 Million ?

erm about 25 big ones

[Sleeping Giants]

I agree with Pete. Thankful that we have guys that can afford to bankroll us.

I do see a lot of people on here moaning about putting certain players on x thousand a week for a 3-4 year contract (normally started as a rumour that gets everyone excited). Although QPR probably pay wages to the higher end of the Championship scale, it probably fair to say also that we pay transfer fees to the lower end. The bottom line is that the model appears to be to attract players very near the end of the contract with a high salary and then pay their club a nominal fee.

What we pay extra in salaries we seem to save that and more in payin smaller transfer fees.

Now it takes a longer time to build a team this way, but i think other clubs will go along this route going forward.

So pay it in transfer fees or wages, it is very expensive to run a Championship club, hence the numerous times I have said that our gates make us pretty much a Division One club.

If we had Bill Power back at the club, as much as he loves QPR, the chances are that we would be a bottom three team in the Championship in the current day at best.

Lets be grateful for what we have got and try and peacefully persuade the powers that be to spend a bit more money and ensure we always have a good manager.

Good Shout!!!.....I like to think glass half full rather than three quarters empty when we were struggling with Plymouth & Bristol City to get out of League 1. If we're spending more than we can afford and someone is taking the hit for us, why all the animosity?......Or am I being naive in that we'll be left with the debt if they jump ship??.......I tend to think if someone's trying to do well by QPR and it's costing him big bucks, then get off his case and appreciate the fact that we're now a team that is gobsmacked to have dropped as low as 13th in the Championship......5 or 6 years ago, I dreamed of 13th in the Championship (well not literally but you get my point!).

[qblockpete]

It shows they are spending, with relatively small crowds, yet they plough so much in and get s.lagged of everyday!!

[davman]

not sure its a million, but certainly not making a profit.

Yet, better we have people that can afford it, instead of a shiekh who pretends to have it.

Absolutely fine if they are paying the bills.

However, we know that won't be how it works, don't we? When Flab completes his reign of misery with us stuck as a mid table Championship club, he'll want out and suddenly all this **investment** will become loans and they'll want their money back.

Then when they realise you can't sell a £15m club for £40m with debts, it'll mean one thing and we all know what that is -10pts and League One for starters. Can't wait... :cry:

[W12_Ranger]

Absolutely fine if they are paying the bills.

However, we know that won't be how it works, don't we? When Flab completes his reign of misery with us stuck as a mid table Championship club, he'll want out and suddenly all this **investment** will become loans and they'll want their money back.

Then when they realise you can't sell a £15m club for £40m with debts, it'll mean one thing and we all know what that is -10pts and League One for starters. Can't wait... :cry:

Spot on, that is the reality.

[Hoopla73]

I think the reality is more like what's happened at West Ham: a deal will be done to sell part of the club to a new investor in exchange for paying off the club's debt to the previous owner (in QPR's case, this is Sarita).

Any other creditors line up with cap in hand to the Club (i.e. taxman, other clubs, banks), and as long as any losses are covered by additional loan capital from the new primary owner, the Club would continue as a going concern.

The bottom line is that the Club must reduce the wage bill, and the fans must stop expecting big name players and transfer fees to be paid as it's clearly a recipe for instability in the long run, unless your sugar daddy converts the loans into equity as Roman has done at Chelsea.

[Spencer]

Call me stupid - but Flavio needs to get the crowds back.We all now its generally hard time all round in life.Calling people £20 quid fans is a quote he could do without saying.

I cannot remember the last time I spent £20.00 going to watch QPR play.

Get a manager - stick with him and has already been stated, get a bit of stability back into club.Do something about the admission prices.Get kids in for a quid I dunno - but do something positive to encourage fans to get back to the ground.If you get more in - hopefully they will spend more and maybe get a bit more atmosphere back at LR.Scunny game coming up - not a big sell out game....do what Charlton do - down here they have scheme where they get local(to me) school kids up there for very low prices.

It would be a start

[Tarbie]

I reckon that figure could be possible, although a family friend of Terry Ball is hardly the most nailed on of sources.

Anyway, if Flav has simply re-financed the ABC loan then that is probably costing hundreds of thousands each month. Our wage bill must be one of the biggest in the division. We have outstanding contractual disputes or pay offs with at least 3 managers. On top of that our attendances are very low and probably the vast majority that show up are season ticket holders who paid at the start of the season. Plus we don't know what is outstanding on transfers to other clubs.

It's pretty easy to see where a figure of 1m a month could come from!

We are in a no win situation. Flavio is clearly not the man to take the club forward but at the same time who would be stupid enough to buy the club when he is done running it into the ground.

I have to say I really do fear for the future of QPR!

["The Housewifes Choice"]

Maybe Flavio is pocketing it with GP and are gunna bail in 18 months...