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Post by The General on Feb 28, 2023 14:32:21 GMT
This has been going on for years its about time a solution was tabled to reduce it
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Post by Timmy Doc on Feb 28, 2023 14:39:13 GMT
I blame also both Les and Ramsey as our player recruitment and development sucks.
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Post by Stanley75 on Feb 28, 2023 14:43:54 GMT
Ownership is confirmed as 51% Ruben Gnamamlingn 26% Fernandes 11% Reily Yes. Precise breakdown:
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Post by Hitman34 on Feb 28, 2023 14:57:18 GMT
Ownership is confirmed as 51% Ruben Gnamamlingn 26% Fernandes 11% Reily Yes. Precise breakdown: So bungle is now well out of the equation now. Top head is now the Malaysian Buddha. Otherwise known as ganggoolie
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Post by gtleighsr3 on Feb 28, 2023 15:01:45 GMT
Decade or so a good half if not more pro teams in uk won’t exsist anymore, may be non league name clubs of same name but that it. Too many fingers in the pot
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Post by jfrabbit on Feb 28, 2023 15:57:44 GMT
Shambolic ownership & all their own doing. Fucking abysmal It’s down to CEO and DoF. The owners are saving us from bankruptcy. Sorry, who employs the DoF and CEO? Who oversees them? Who ultimately feels the results of their work?
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Post by The General on Feb 28, 2023 17:02:49 GMT
If you read the qpr news now article it’s even more bleak
We still owe 10 million to FFP for fine and 6 million to Efl for covid cover
Plus 68 million in loans to the owners
Bleak reading
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Post by The General on Feb 28, 2023 17:03:35 GMT
Basically we are operating as an insolvent business eg bankrupt
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Post by 2Loftus on Feb 28, 2023 17:22:27 GMT
If we are losing 23 mill a year why did they build a new training ground ?How much do chelsea / bournmouth / millwall / fulham lose every year Its the same for every club I'm not sure on this, but I think the money spent on it reduces the FFP fine somehow. I'm sure others will know better.
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Post by The General on Feb 28, 2023 17:24:03 GMT
What this basically says is that unless you are in the Premier League you are completely fucked as a football club
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Post by The General on Feb 28, 2023 17:25:51 GMT
Unless the club is a tax write off then that is a completely different story
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Post by gtleighsr3 on Feb 28, 2023 17:27:00 GMT
How to get poor, buy a football club
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Post by stainrodisalegend on Feb 28, 2023 17:39:57 GMT
If you read the qpr news now article it’s even more bleak We still owe 10 million to FFP for fine and 6 million to Efl for covid cover Plus 68 million in loans to the owners Bleak reading Its very bleak indeed general. If it weren't for the owners that some despise we would be out of business. And some wonder why there isn't a queue of potential billionaires down South Africa Rd looking to buy us. Put this on dragons den and it would be torn to pieces - its a terrible business. There were a number on here that flat out refused to believe that we were losing 2m a month (think I suggested it was 1.7m, and it turns out to be even worse). Hope at least we might hear a little less from the "buy a fucking striker" brigade. But also agree with some of the excellent points made in this thread: a) why do we have such a bloated coaching and playing staff (and poss admin staff)? b) the marketing is shit - tho no point investing more in that until the product improves c) clearly we are very badly run so big questions for Hoos and Les to answer (not about toilets and pies but what is the fucking strategy to turn round this omni-shambles?) d) we can give abuse to Les, Hoos, Wart Face or whoever but fundamentally the business model for the Championship is fucked if you are not receiving parachute payments, and even then you might still be fucked. I literally don't see a way out for our club at the moment. If we can't develop players in the way Wart Face and the Wet Lettuce were instructed to do, we are finished.
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Post by Stanley75 on Feb 28, 2023 17:42:58 GMT
Other significant change is:
Fernandes and Meranun have sold 20% of their stake, going from 46% down to 26%
The Mittals have bought another 7% increasing their stake to 10%
And the new American shareholder Reilly has come in with 12%
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Post by The General on Feb 28, 2023 17:47:18 GMT
Good post Stainrod I never realised the extent of the debt that the club owed
If it was up to the bank the club would be closed down as it is financially insolvent
Would a new owner not just pay off the loans and debts though as Man Utd owe 700 million atm that the new owners will pay off when buying the club
Obviously we are not Man Utd as I understand however it shows that even the biggest club in the world owes 700 million pounds
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Post by The General on Feb 28, 2023 17:50:01 GMT
I think the Mittals and American are going to buy Tony out very shortly it’s already happening if he has sold to them another 20%
Take over on the cards if they both increase by another 10% then Tony is history
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Post by sparks on Feb 28, 2023 17:50:12 GMT
Other significant change is: Fernandes and Meranun have sold 20% of their stake, going from 46% down to 26% The Mittals have bought another 7% increasing their stake to 10% And the new American shareholder Reilly has come in with 12% Isn’t the reason Ruben and Mitalls shares have increased because they personally have swallowed the clubs losses and converted the loans to shares? www.westlondonsport.com/qpr/football-qpr-ffp-questions-answered
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Post by Stanley75 on Feb 28, 2023 18:02:11 GMT
Other significant change is: Fernandes and Meranun have sold 20% of their stake, going from 46% down to 26% The Mittals have bought another 7% increasing their stake to 10% And the new American shareholder Reilly has come in with 12% Isn’t the reason Ruben and Mitalls shares have increased because they personally have swallowed the clubs losses and converted the loans to shares? Ruben's shares haven't increased Sparks. They've been around 51% for the past 7 years. Mittals have increased along with Reilly coming in. Sorry I can't answer your question though.
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Post by sparks on Feb 28, 2023 18:03:34 GMT
Have a look at the link I’ve added to my original post Stan
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Post by Stanley75 on Feb 28, 2023 18:07:42 GMT
Yeah I do recall that Sparks. Just pointing out that Ruben's holdings haven't changed for the past 7 years.
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Post by The General on Feb 28, 2023 18:08:14 GMT
The fact the Mittals and the American shares have increased can only be good news tbh
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Post by The General on Feb 28, 2023 18:09:13 GMT
I think Mittals d American will buy Tony’s remaining shares hope so
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Post by Stanley75 on Feb 28, 2023 18:13:33 GMT
I think Mittals and American will buy Tony’s remaining shares. hope so Doing that would give them 50% of the club between them.
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Post by The General on Feb 28, 2023 18:19:50 GMT
49% no ?
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Post by alanwycombe on Feb 28, 2023 18:20:24 GMT
If you read the qpr news now article it’s even more bleak We still owe 10 million to FFP for fine and 6 million to Efl for covid cover Plus 68 million in loans to the owners Bleak reading Its very bleak indeed general. If it weren't for the owners that some despise we would be out of business. And some wonder why there isn't a queue of potential billionaires down South Africa Rd looking to buy us. Put this on dragons den and it would be torn to pieces - it’s a terrible business. There were a number on here that flat out refused to believe that we were losing 2m a month (think I suggested it was 1.7m, and it turns out to be even worse). Hope at least we might hear a little less from the "buy a fucking striker" brigade. But also agree with some of the excellent points made in this thread: a) why do we have such a bloated coaching and playing staff (and poss admin staff)? b) the marketing is shit - tho no point investing more in that until the product improves c) clearly we are very badly run so big questions for Hoos and Les to answer (not about toilets and pies but what is the fucking strategy to turn round this omni-shambles?) d) we can give abuse to Les, Hoos, Wart Face or whoever but fundamentally the business model for the Championship is fucked if you are not receiving parachute payments, and even then you might still be fucked. I literally don't see a way out for our club at the moment. If we can't develop players in the way Wart Face and the Wet Lettuce were instructed to do, we are finished. I’ve posted many times be careful what you wish for because at least we still have a club but Les and Co. have had long enough to ‘find’ a striker - doesn’t have to be millions, other clubs find a gem abroad - and without doing something like that we’re not going to be successful and get out of debt. The owners have recognised they can’t run a football club so have put it in the hands of management…..that can’t run a football club.
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Post by The General on Feb 28, 2023 18:20:46 GMT
When you sell shares it is normally done in stages rather than all in one go just sayin
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Post by James1979 on Feb 28, 2023 18:23:24 GMT
It’s down to CEO and DoF. The owners are saving us from bankruptcy. Sorry, who employs the DoF and CEO? Who oversees them? Who ultimately feels the results of their work? They do. But they also seem willing to pay for it. I believe they don’t want to remove them because of the times they have been accused of getting too involved in “football” matters.
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Post by The General on Feb 28, 2023 18:25:20 GMT
Man Utd Everyon Man City All owe 500 million
Brighton 300 million
Tottenham 700 million
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Post by Stanley75 on Feb 28, 2023 18:28:40 GMT
Give or take, depending on split.
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Post by hal9thou on Feb 28, 2023 18:33:10 GMT
So do these accounts burst the ballon of the camp of fans who say we should be taking risk and investing and buying players Absolutely not. Since - as KMag points out - all the EFL champ figures released to date have shown hefty losses, these figures articulate how important it is to escape upwards out of this division. Cut all expenditure which does not directly input into the first team on the park, and spend what you can judiciously, ie exactly what we have not done. I don't know what Les' salary is but he has consistently been an abortive financial drain, his input has been totally negative in business terms. How can anyone possibly have any respect for the ownership when they payroll failure on a large scale. The only possible explanations are that a) they can actually afford to sustain these losses or b) are too incompetent to sort out the football side. It's true Liverpool only made 7.5m as someone has pointed out, but who cares when you're loosing on the scale we are? They made money despite epic expenditure. You wont do that moored in the EFL. If you read the qpr news now article it’s even more bleak We still owe 10 million to FFP for fine and 6 million to Efl for covid cover Plus 68 million in loans to the owners Bleak reading Hope at least we might hear a little less from the "buy a fucking striker" brigade. That type of investment is the only way of solving this predicament, see comments above. The fact is that the policies (or non policy) adopted by the board have seen us down the arse end of the division and loosing money just like everyone else in the championship - except for the parachute clubs.
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