Post by Macmoish on Oct 22, 2010 8:30:37 GMT
"On This Day" -
QPR Official Site - October 23, 2000
GERRY ON RANGERS FINANCIAL RESTRICTIONS
FOLLOWING Saturday's defeat against Burnley, Director of Football Gerry Francis spoke in detail about the finances of the club.
Gerry said:" If you want to be in a position to win promotion, then obviously there has to be a major financial injection in the club.
The chairman knows that and everyone has known it since I've been here.
"But we are never going to be in a position to boost the coffers. That's why the chairman has said he will look at the situation
if someone comes along and is prepared to put some money into the club.
That is probably what the club is going to need at some stage in the future. It would help us to turn things around.
"There have been three sets of accounts since I have been back here. The yearly losses have been £6 million, £9 million and £5.5 million.
That is more than £20 million pounds that the club has lost in three years. Someone has to keep standing that loss and the chairman has done it.
We've made a major effort to cut the losses by £4 million over the past year, but unfortunately that puts you under pressure
because you have to let players go and cut the wage structure.
"Therefore you cannot get the quality players to come to the club, and you need that quality if you want to progress and become a Premiership side.
You cannot do that because you can't afford the wages, let alone the transfer fee.
"It will be a few good years before hopefully the financial side of the club turns around and you can go out and compete
with the top teams in the division to try and get the players that we need."
QPR Official Site - October 23, 2000
GERRY ON RANGERS FINANCIAL RESTRICTIONS
FOLLOWING Saturday's defeat against Burnley, Director of Football Gerry Francis spoke in detail about the finances of the club.
Gerry said:" If you want to be in a position to win promotion, then obviously there has to be a major financial injection in the club.
The chairman knows that and everyone has known it since I've been here.
"But we are never going to be in a position to boost the coffers. That's why the chairman has said he will look at the situation
if someone comes along and is prepared to put some money into the club.
That is probably what the club is going to need at some stage in the future. It would help us to turn things around.
"There have been three sets of accounts since I have been back here. The yearly losses have been £6 million, £9 million and £5.5 million.
That is more than £20 million pounds that the club has lost in three years. Someone has to keep standing that loss and the chairman has done it.
We've made a major effort to cut the losses by £4 million over the past year, but unfortunately that puts you under pressure
because you have to let players go and cut the wage structure.
"Therefore you cannot get the quality players to come to the club, and you need that quality if you want to progress and become a Premiership side.
You cannot do that because you can't afford the wages, let alone the transfer fee.
"It will be a few good years before hopefully the financial side of the club turns around and you can go out and compete
with the top teams in the division to try and get the players that we need."
