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Post by Macmoish on Apr 19, 2011 12:23:51 GMT
Evening Standard Neil Warnock is promised a Premier League war chest Mihir Bose 19 Apr 2011 Adel Taarabt will have the last laugh on Robbie Savage when Rangers go up Neil Warnock is priceless having spent so little at Rangers Lakshmi Mittal has promised fresh investment in Queens Park Rangers should they win promotion back to the Premier League. Britain's richest man, whose wealth is estimated at �24billion, was not at Loftus Road for last night's 0-0 draw with Derby. The result means Neil Warnock's team need to win at Cardiff on Saturday to guarantee a return to the top flight for the first time since 1996. In a rare interview, Mittal said he was sure the west London club were now ready for a return to the big time.
"There is still much we need to improve," he told Standard Sport. "The defence, for example. To stay up we will also need a good goalscorer. But it is very different to a year ago. Then, if you had asked me, I would have said QPR should not go into the Premier League. But now we are ready."Mittal has been cautious with his level of spending since becoming involved with Rangers three years ago. The �3.5million signing of Alejandro Faurlin is by far the largest transfer since the Indian bought a 20 per cent stake in December 2007. That deal is now the subject of an investigation after QPR were charged with seven breaches of Football Association regulations on third-party rules with a verdict expected the day before the last game of the season. When asked if there will be money to spend next season, Mittal said: "I think so because it is a big responsibility. You have to live up to the Premier League. But there are some clubs who like to have a big budget. There are other clubs who can do a job with limited budgets but higher productivity." This does not suggest a Roman Abramovich-style spree but football has always been entertainment, not business for Mittal. On coming to London, the club he first followed was Chelsea. The Mittals had a box there but he is not like Abramovich. "I know Roman because he is also in the steel business," he said. "For him Chelsea is his passion. I am a fan of QPR but I will not have that kind of passion. I am passionate about my business." Although the Mittals own a third of QPR - the rest is held by Bernie Ecclestone - it is his son-in-law Amit Bhatia who runs the club. Mittal said: "Nobody recognises me. I keep Amit in front. QPR going into the Premier League is a very exciting moment for us as a family." As passive investors, the family held a 20 per cent stake but they came close to walking away 14 months ago when Flavio Briatore's problems with Formula One forced him to step down. Mittal, 60, added: "When Flavio stepped down, the club were orphaned but Amit took up this challenge." What has particularly pleased Mittal is Bhatia's recruitment of Warnock from Crystal Palace. He added: "He is a great guy and I hope he continues to lead QPR after we win promotion." www.thisislondon.co.uk/standard-sport/football/article-23942844-neil-warnock-is-promised-a-premier-league-war-chest.do |
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Post by Macmoish on Apr 19, 2011 12:39:19 GMT
The most positive thing re Mittal and QPR we've seen for a long time (apart from various messageboard rumours)
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Post by Zamoraaaah on Apr 19, 2011 13:16:53 GMT
We'd need to spend bigtime just to stay up. If not we'll get mullered every week.
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Post by Macmoish on Apr 19, 2011 13:54:48 GMT
I guess we'll be announcing season ticket prices, soon!
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Post by eusebio13 on Apr 19, 2011 15:12:18 GMT
Still confused about ownership. Last year he says he bought flavio's shares now bernie's bought them. Does flav still have shares?
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Post by eusebio13 on Apr 19, 2011 15:20:54 GMT
Hard to copy and paste on an ipad but the daily mail story is marginally different but talks about him increasing his holding
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Post by Macmoish on Apr 19, 2011 15:22:31 GMT
Thanks. To be honest I assumed was same. This is it DAILY MAIL Mittal promises fresh investment in QPR if they reach Premier League By Sportsmail Reporter 19th April 2011 Lakshmi Mittal intends to plough fresh investment into Queens Park Rangers if they secure promotion back to the Barclays Premier League. Britain’s richest man, whose wealth is estimated at £24billion, bought a 20 per cent stake in QPR in 2007 and last year became the club's biggest shareholder when he bought shares from Flavio Briatore. And Mittal believes the west London club are now ready for a return to the big time. Leading the way: Mittal (right) will splash the cash if QPR earn promotion Leading the way: Mittal (right) will splash the cash if QPR earn promotion 'There is still much we need to improve,' he told the Evening Standard. 'The defence, for example. To stay up we will also need a good goalscorer. But it is very different to a year ago. Then, if you had asked me, I would have said QPR should not go into the Premier League. But now we are ready.' Despite his wealth, Mittal has kept a tight hold on the purse strings with the £3.5million signing of Alejandro Faurlin the biggest investment to date. That deal is now the subject of an investigation after QPR were charged with seven breaches of Football Association regulations on third-party rules with a verdict not expected until the day before the last game of the season. On the subject of money being made available, Mittal said: 'I think so because it is a big responsibility. You have to live up to the Premier League. Promised land: Neil Warnock (right) has led QPR to the brink of promotion Promised land: Neil Warnock (right) has led QPR to the brink of promotion 'But there are some clubs who like to have a big budget. There are other clubs who can do a job with limited budgets but higher productivity.' Although the Mittals own a third of QPR - the rest is held by Bernie Ecclestone - it is his son-in-law Amit Bhatia who runs the club. Mittal added : 'Nobody recognises me. I keep Amit in front. QPR going into the Premier League is a very exciting moment for us as a family.' He also came close to walking away 14 months ago when Flavio Briatore’s problems with Formula One forced him to step down. Mittal, 60, added: 'When Flavio stepped down, the club were orphaned but Amit took up this challenge.' And the Indian reserved praise for QPR boss Neil Warnock. 'He is a great guy and I hope he continues to lead QPR after we win promotion.' www.dailymail.co.uk/sport/football/article-1378497/Lakshmi-Mittal-promises-fresh-QPR-investment.html#ixzz1JyzxKtaJ |
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Post by Jon Doeman on Apr 19, 2011 16:17:21 GMT
This is the best bit of news to come out isn't it, him taking an interest.
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Post by moriarty on Apr 19, 2011 17:42:02 GMT
But it is very different to a year ago. Then, if you had asked me, I would have said QPR should not go into the Premier League. But now we are ready.'
Is that a subtle dig at how the club has been run up until now?
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Post by canadaranger on Apr 19, 2011 19:14:21 GMT
An honest business opinion more like...
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Post by Lonegunmen on Apr 20, 2011 5:57:24 GMT
Sounds to me that the clubs owners might spend - not go stupid but spend wisely. Not frugally but sensibly. I can live with that, especially if it is Warnock saying whom he wants and the owner go and get them. Our current squad has done brilliantly, surpassed many peoples expectations and lived up to the old QPR adage of fighting above their weight. We have the basis of a good squad but in honesty, we know we are deficient in each area and need to bring in players that will lift the standards of everyone still here.
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Post by gibraltar on Apr 20, 2011 10:12:29 GMT
i love mittal and bhatia
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ingham
Dave Sexton
Posts: 1,896
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Post by ingham on Apr 21, 2011 8:06:38 GMT
Ah yes, Mittal. We will spend! Of course. TV will provide the Club with a lot of money to spend. Not enough, judging by the state of the other Clubs, though.
And, also judging by the other top flight Clubs, if it was investor money they were spending losses wouldn't be in the billions. Or, in QPR's case, millions, and tens of millions, every year. And our investors wouldn't have positioned themselves to acquire the ground. Haven't heard the latest on that, though. Interested to see whether QPR's asset goes to them, or their money comes to QPR to secure it.
But at least the people at Loftus Road seem to be more frank than speculators of their stripe can usually manage.
Ecclestone - the main investor - has already told us he isn't interested. And judging by this interview - and he actually says it - Mittal isn't all that interested either.
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Post by Macmoish on Apr 21, 2011 8:34:10 GMT
Valid points as often, Mr. Ingham
On the other hand, if we do have to be owned by somebody - and obviously given our limited knowledge of motives, personality, business approach, I would rather it be the Mittals than Briatore/Ecclestone (or Paladini/Caliend)
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ingham
Dave Sexton
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Post by ingham on Apr 21, 2011 10:32:23 GMT
I suppose that sums it up, Mac. It is more or less axiomatic that once we have had a month or two of someone running the Club, anyone else is preferable.
I must confess I don't take 'the Mittals' seriously if someone else owns a controlling interest.
Indeed, if I took Paladini seriously, I would be tempted to think all these people were nothing more than names. Here's a few shares, let us use your name. Turn up if you want, but there's no need. You'll be paid off in due course.
First it was E and B. Then E wasn't interested, so it was B. Then B just wandered off. But it turned out he owned the Ground. And E owned 'the Club'.
Now it's 'the Mittals'? Who own neither the Ground nor the Club. Does the Mittals include Bhatia? If so, hasn't he been hand in glove with E and B, for the last couple of years? Wasn't he Ecclestone's front man for the ticket price rises? And isn't he Briatore's sideman in his manoeuvres over the Ground?
Maybe it's the other way round and they're providing the money. But the accounts suggest not, unless the enormous losses are a consequence of a Mittal moneylending operation. With Mittal senior putting in Bhatia to keep an eye on the client, its representatives, and the loans.
On the other hand, and since there have been so many 'investors' in the last 6 years or so, maybe continuity should be telling us that it is really Paladini's show. He signs up one clown after another, certain they don't know the first thing about football, and certain he can get rid of them just like an unwanted manager - when there's a downturn in the results, when the losses make their position untenable, or when a greater fool wants to get on the treadmill in their place.
To do that, GP doesn't need power as such. Just an awareness of how difficult things will be for them if the losses he runs up are even bigger than their predecessors, who are long gone, and in one case, still hoping to be paid.
On the other hand, he may be another mere name. Had his day, and now just hanging around, like the others.
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Post by gibraltar on Apr 21, 2011 11:21:00 GMT
ingham, i dont know for sure as none of us do, but i'll give you my views on our ownership. e = ecclestone, b = briatore m = mittal a = amit bhatia p = paladini e and b saw this purely as a business deal, and e couldnt care less if supporters like/hate him. b was a little more involved, thinking his sport (F1 lol) expertise would mean he knew how to manage a club. he got angry when the supporters tried to oust him, so sold up to e, whilst still keeping a shadow profile. m was only in it to keep chummy with e and b. if u look at F1 there are rules on how many times u can change team names, and he has surpassed that, all due to his relationship with e. money talks. a asked m if he could get on board with this, and m was all for it. end of the day m would like a return on investment, and having a family eye in the heart of things always helps. plus i am, sure daddies daughter always gets her way  a wants to be a success at this, he has no money invested (bar father in laws) but wants to run the club well. he couldnt control b, and so continued building the club up whilst not getting involved in team selection. b and p are the closest of chums, and it is my guess that b originally introduced p to e. when e announced this year that he is in talks to sell his shares, a was scared that people would assume m's shares were up for sale too, and a wants to keep a friendly rapport with the supporters. in my opinion amit is working hard to create something here, and i hope that he doesnt prove me wrong. |
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Post by Macmoish on Apr 21, 2012 7:46:45 GMT
Bump...
Obviously can't tell how Mittal/Bhatia would have conducted things if they had completed owned the club.
But the one thing for sure, the earlier takeover, would have let Warnock (or someone else, possibly, but I doubt it) the whole of Late Spring and Summer to prepare/bring in players for the upcoming season....
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