First of all we were told signings would be made to strengthen the squad,, nothing. Now we are apparently in for loans. As of yet, again nothing. This has been going on since May. Funds are apparently available. Hard to believe. Being treated like mugs.
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Really feels we are being strung along here
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Originally posted by knocker View PostFirst of all we were told signings would be made to strengthen the squad,, nothing. Now we are apparently in for loans. As of yet, again nothing. This has been going on since May. Funds are apparently available. Hard to believe. Being treated like mugs.
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We suffer from a majority shareholder who provides money to the club via a private unscrutable malaysian conduit business that treats the money given as an "interest" ! bearing loan, and at the end of each year the interest gets converted (capitalised) into shares for the boys. We have one of the lowest levels of revenue less television reciepts in the Championship. I personally imagine that SM was brought in to make the club look more appealing to one of those dont know anything about football but I think I will buy a club because I have nothing else to do owner types. The financial structure of the club is completely wrong and is why the FFP break happened in the first place (greed). Unfortunately we are on a road to continuous implosion.
As the major shareholder also appears to be the biggest creditor, he would probably rather the club went to Vanarama national League than lose his money by declaring bankruptcy.. so we all have to wait for a group to come along with at least 100 million (my opinion based on us being in League 1 next year) to give the shareholders what they want to evacuate.
Looking at the annual financial accounts for QPR holdings submitted I have no doubt they all want to get out (but with all of their cash)
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