Post by QPR Report on Apr 15, 2009 6:50:13 GMT
Edit another yeaar.
20 Years Ago the first comment regarding the news/rumours that Gianni Paladini was interested in buying into QPR -(Maybe it was mentioned on the Boards but if so, I havent seen "Laissez Les Bon Temps Roulez"
From The Archives of QPR1st:
April 15, 2004: This Statement from QPR 1st
Three investors circle QPR
QPR1st has learnt that a third potential investor in QPR has emerged. In some respects this could be positive news if it means that people are beginning to see Rangers as a viable business proposition. However, there is still plenty of room to be cautious, since two have previously explored investing in QPR and have not yet gone through with it while the third has plenty of history elsewhere in the football world.
The latest interested party to emerge is Gianni Paladini. This was reported in the Daily Express this morning but the story has subsequently been confirmed to QPR 1st by QPR chief executive David Davies. Davies stated that Paladini is looking to invest, rather than take a controlling stake.
Gianni Paladini came very close to a majority buyout of Port Vale in December 2003, through a corporate vehicle named Vantis. However, at the very last minute, another party was given priority by the Port Vale board. Some sources say that this was related to Paladinis' stated desire to be the new Port Vale Chairman, others that he simply wasn't a credible bidder with sufficient funds. In an interview with BBC Stoke he claimed he had shown the Port Vale board proof of funds before they pulled-out of the deal. www.bbc.co.uk/stoke/sport/portvale/2003/12/vale_takeover3.shtml
Whatever the truth, there does appear to have been a significant falling-out between Paladini and Bill Bratt the Port Vale Chairman.
QPR 1st continues to explore Paladinis' provenance. It is understood that Vantis had recently taken an interest in 'investing in' or 'acquiring' a couple of clubs ... Port Vale and Notts County.
Opinion amongst Vale supporter groups appears to back the Port Vale boards' position in rejecting Paladinis' advances. Port Vale Supporters' Trust (VAST) and Supporters Direct uncovered a series of County Court Judgments against him. Davies explained to us that these are public knowledge and arose from disputes between Paladini and another football agent. That does not mean that they should be ignored, however.
Supporters groups also discovered that, despite his early denials, Paladini was a director of several companies, including a Leeds-based property development company.
Davies confirmed that the critical difference between the Vantis interest in Port Vale and the current Paladini interest in QPR is that at Vale Vantis was attempting a complete takeover attempt, whilst Paladini is seeking to invest in QPR as an individual and not to take a majority stake. This,claims Davies, should ease supporters' worries about the ground being property-developed, as the rest of the QPR board would have to agree to such a thing. At the time of the Paladini takeover attempt at Vale, it was claimed by some that he was only interested in Vale for property development.
Meanwhile Milwaukee Wave, whose owner Tim Krause has long been looking at investing in QPR, remains interested and looks to be moving to reflect that through investment.
Last, but not least, the Brian Rowe-led consortium, which also includes the Anelka brothers, is still looking to invest.
Davies confirmed that there was a possibility of a combination of two of the three parties/ groups working together and being able to invest independently. He also confirmed that an announcement about this could come earlier or later than this Monday, as stated in the Express.
Meanwhile, the board must pick none, one or two from three. QPR1st calls on the board of QPR to take great care making their decision. Whilst recognising that failure to secure inward investment will almost certainly leave the club dangerously exposed as the season draws to a close, we recommend that prospective bidders be examined as closely as ever. At a time when the club is about to play a crucial promotion game, we have a critical weekend ahead of us.
Followed by:
BBC - April 28, 2004 - Paladini buys stake in QPR
QPR have finally found an investor
Italian businessman and agent Gianni Paladini has bought
a 22% stake in Queens Park Rangers.
Paladini, who has represented Fabrizio Ravanelli and Benito
Carbone, has invested around £650,000 and more cash
may follow in the future.
QPR have been seeking investors since coming out of administration in 2002.
The board are speaking to other groups interested in buying a major stake, including
American Tim Krause and a consortium fronted by Brian Rowe.
Krause is the president of Milwaukee Wave, the American club QPR
entered into a partnership agreement with last year.
Lifelong R's fan Rowe was commercial director at Loftus Road
under former owners Jim Gregory and Richard Thompson. BBC
Standard/Matt Hughes - April 28, 2004
Rangers are lifted as Italian pumps millions into club.
QUEENS PARK RANGERS have received a huge boost ahead of Saturday's promotion clash with Swindonin the form of a multi-millionpound investment from Italian businessman and agent Gianni Paladini, writes Matt Hughes.
Paladini's Leeds-based property company, Moorband Limited, have bought a 22 per cent share in QPR Holdings and could increase their stake further if the club win promotion-to the First Division. Paladini has more than 30 years' experience as a football agent and will play a key role in restructuring the QPR squad this summer."
Moorbound Ltd Buy 22% of QPR Holdings
QPR have announced that Moorbound Ltd have bought 22% of the PLC's issued shares giving the club a much needed cash injection of around �650,000.
The deal sees Azeem Malik and Gianni Paladini join the board at QPR. Gianni Paladini is a former agent who represented many of the foreign stars who joined Middlesborough in the 1990's. Ravenelli, Juninio and Emerson were all on Paldini's books but he is now no longer a football agent after investing his money into QPR.
Chief Executive David Davies was delighted with the investment and told www.qpr.co.uk " "Moorbound were hoping to retain some confidentiality until the end of the season, but following speculation in the press, the Board have decided to confirm the investment.
"They have taken a substantial stake in the business and with Gianni's experience in football, it should be a great aid to us.
"They bring skills to the table and Nick, Ian and I are looking forward to working with them."
Gianni Paladini has the option to buy up to 51% of the shares if no new investment is forthcoming which would make his move a take-over and a little more concerning to QPR fans. Paldini attempted to take over Port vale earlier this season but fans grew nervous of the agents plans and were very pleased when his bid failed.
Port Vale fan Mark posted on this website a few weeks ago warning of paldinis intentions. He said; "He (Paldini) promised to bring Fabrizio Ravenelli to Vale Park, much as he is now promising to take Carbone to Loftus Road for QPR. He also repeatedly reduced the ammount he claims to want invest initially in the club. He was part of a consortium to send us to a new stadium and sell Vale Park to a property developer (part of the consortium!). "
"The Vice Chairman was on his side but the fans didn't trust him, with good reason, as he wanted to take ythe club to sole ownership and away from its fan-owned status. Like you with Chris Wright, we had a bad time with our former Owner Bill Bell who during his time consiered moving us in with Stoke, or even a merger, just like QPR with Wimbledon a couiple of years ago. So we know the perils of sole ownership. Paladini changed his story so much we knew he had vested interests and he promised the earth with a view to making a killing on our ground in a scam with his wealthy friends."
"Fortunately the majority of the board backed the fans and told him where to go, instead attracting a local entrepreneur to buy a load of shares. I know investors aren't banging to door down at QPR but it would be a black day in the club's history if they took Paladini and his pals on. Don't listen to him, he's less trustowrthy than both Wright and they guy who owned QPR before (Richard something wasn't it?). At least they had the credentials of being successful businessmen - Paladini is a football agent. Sly, devious, underhand are his middle names."
"Go to www.onevalefan.co.uk and ask the fans there for more details. Be warned and take care."
The QPR supporters Trust QPR 1st have given Paldini a cautious welcome to the club. A statement on the QPR 1st website said: "QPR1st gives a cautious welcome to the investment made by Moorbound Ltd, a company of former-football agent Gianni Paladini. We are pleased to see that the Club Board has at last succeeded in attracting inward investment to QPR, but there are a number of questions that we would like to see addressed, primarily to do with the deal itself and with the business credentials of Mr Paladini and his team.
In particular, we are keen to know roughly how much has been invested to secure 22% of QPR shares and what further investment plans Mr Paladini's company has. These questions alone have become pressing, since Mr Paladini's emergence as a bidder has generated substantial rumour, which QPR1st does not believe is good for either the Club or its support.
Also, should Mr Paladini's company exercise its option, as a part of this agreement, to extend the 22% to 51%, it would make this deal the beginning of an effective takeover rather than an 'investment', although QPR confirms that the Board is at the advanced stages of negotiations with other interested parties.
Given the potential that Mr Paladini could shortly have control of QPR, we call on the Board to explain what checks of Mr Paladini's business credentials and background have been done (we understand from QPR chief executive David Davies that every test so far put in front of Mr Paladini has been met on time). Meanwhile, we are seeking talks with Mr Paladini, to establish exactly what his company's involvement will mean for QPR."
Despite one or two doubts about the new investor it is good to see the club attracting some money at last and hopefully this will turn out to be an excellent move for the club and hewlp take us forward.
QPR1st Statement - 28th April 2004
QPR1st gives a cautious welcome to the investment made by Moorbound Ltd, a company of former-football agent Gianni Paladini. We are pleased to see that the Club Board has at last succeeded in attracting inward investment to QPR, but there are a number of questions that we would like to see addressed, primarily to do with the deal itself and with the business credentials of Mr Paladini and his team.
In particular, we are keen to know roughly how much has been invested to secure 22% of QPR shares and what further investment plans Mr Paladini's company has. These questions alone have become pressing, since Mr Paladini's emergence as a bidder has generated substantial rumour, which QPR1st does not believe is good for either the Club or its support.
Also, should Mr Paladini's company exercise its option, as a part of this agreement, to extend the 22% to 51%, it would make this deal the beginning of an effective takeover rather than an 'investment', although QPR confirms that the Board is at the advanced stages of negotiations with other interested parties.
Given the potential that Mr Paladini could shortly have control of QPR, we call on the Board to explain what checks of Mr Paladini's business credentials and background have been done (we understand from QPR chief executive David Davies that every test so far put in front of Mr Paladini has been met on time). Meanwhile, we are seeking talks with Mr Paladini, to establish exactly what his company's involvement will mean for QPR.
www.qpr1st.co.uk/newspages/april2004.htm
16th August 2004
Notes on QPR Holdings AGM held at Bush Hall at 3.30 pm on 4 August 2004
The meeting was chaired by Kevin McGrath who made it clear from the outset that he intended to resign as Chairman at the end of the meeting and subject to agreement, be replaced by Bill Power.
The other people on the stage were:
� Bill Power (Director and Chairman designate)
� Mark Devlin (recently appointed Chief Executive Officer)
� Dave Anderson (QPR 1 st 's previous Head of Finance and recently appointed Company Secretary)
� Chris Pennington (recently appointed full-time Financial Officer)
� Aseem Malik (recently appointed Director representing the interests of G Paladini).
Under the new regime it is assumed that the Club will make public the Minutes of the meeting and therefore this is a summary of the main points and not necessarily exhaustive.
K McG began by reminding the meeting that the new regime had only been running the plc "hands on" for the last two months. He also informed the meeting that Ross Jones and G Paladini were both in attendance, and would be willing to take questions from the floor after the formal resolutions had been dealt with.
Accounts
K McG apologised for the late delivery of the accounts and stated that this delay was unacceptable. He advised that the 2003/04 accounts would show similar losses to 2002/03, which amounted to �4.3m. It is anticipated that these accounts will be available at the end of 2004 and were currently being prepared by David Anderson with the assistance of Chris Pennington. K McG went on to state that new investment was needed of at least �2m to fund the ongoing losses and enable the club to pay its most pressing creditors i.e. Inland Revenue and Customs & Excise. It was stated that the proposed investment from Monaco was likely to be scaled down. The proposed investors were given an exclusivity period which recently ended. This meant that the club could speak again to other potential investors.
Questions followed in relation to the accounts. There was discussion about the Auditor's comments in relation to the fundamental uncertainty referred to in the accounts. This stated that additional funding needed to be raised. The board agreed that this funding is obviously necessary.
The only question that caused any heated discussion during the meeting was in relation to the Related Party Transactions and the fact that the Company believed it was owed over �200,000 by Anaid Holdings Limited (i.e. The Wintons). Harold Winton was then allowed to speak and he explained the basis of the "shiteeeeeeeetu deal" which formed the crux of the dispute. The problems arose when Ron Noades (then Brentford owner) sought to prevent QPR signing any new players via We Are QPR's expense and subsequently getting the club to pay wages. We Are QPR had then agreed to pay DS's wages until the club's exit from administration. The Club now dispute this fact, and want the ongoing wages since administration to be paid by the Wintons.
K McG stated that this dispute was likely to be resolved by discussion between the parties and there would be no more threats of going to court or arbitration and thus no legal fees incurred. Furthermore, it was confirmed that the club is not being sued or suing anybody else on an ongoing basis.
Resolutions
All of the resolutions forming the ordinary business of the AGM were passed on the basis of a show of hands. There were one or two votes against each resolution but never substantial objection.
Resolutions 5 and 6 in relation to the allotment and pre-emption of shares were passed subject to an amendment i.e. the board was only given powers for a one year period, subject to renewal and ratification at the next and subsequent AGMs rather than the five year period proposed.
All of the other resolutions in relation to the company's name and Memorandum & Articles were passed.
Other questions
Various other questions were asked in relation to proposed new investment. It was stated the current price being asked and paid for shares was 6.5p each. The board were asked whether or not an offer could be made to all existing shareholders asking if they wished to take up more shares at that price. RJ explained that this might have a detrimental effect on attracting a new investor, as they would want to acquire a significant proportion of the company (albeit as a minority). This would enable the investor in conjunction with others to exercise total control. RJ went on to state that he was willing to sell all or part of the 1.35m shares that he owned personally for the price of 6.5p each on the proviso that he received 3p a share and the other 3.5p per share would go to the Club.
The issue of the ABC loan was discussed in detail. This was referred to by K McG "a dog" but RJ explained that the loan was taken up at 10% as the club had no other options available and the Football League had threatened to not include QPR in the Fixture list for 2002/3 unless the club were out of Administration. A member of the floor challenged RJ, stating that a cheaper, more flexible arrangement was on offer at the time at a rate of 6% provided by a more traditional banking source. RJ stated that at the time the main banks were running shy of lending to football clubs on the basis that were they to foreclose on the deal, this would not only alienate the fans of QPR but football fans in general.
Another member of the floor stated that everybody knew the person behind the ABC loan and asked whether the top table would confirm the name of the person. They stated they were not able to do this on the basis of the confidentiality agreements surrounding the loan. K McG did however state that the previous administrators, BDO Stoy-Haywaard now acted for ABC and enquiries were made as to any potential conflicts of interest.
It was stated that Holloway had been given a budget of �500,000 over that originally envisaged and the mission was to establish QPR as a mid table Championship team challenging for a play off position. RJ stated that as a result of promotion to the Championship there will be �2m - �2.5m extra income per annum and once the club was established it could go forward and then challenge for promotion to the Premiership but this process was likely to take three to four years.
It was stated that Chris Wright had previously intended to vote against the resolutions at the AGM but the current Board had asked Nick Blackburn to liase with Wright who eventually changed his mind.
It was confirmed that G Paladini had invested �650,000 into the club and that Bill Power had recently bought some more shares to assist with ongoing cashflow.
Gino Paladini spoke about various ways he could help the club particularly the current shirt deal with Binatone, which currently nets �80,000 per annum. GP stated that he feels that a more lucrative shirt deal could easily be achieved on the basis that QPR is a very well known brand in the football world. He argued that this, coupled with the club's location in central London , represents a lucrative commercial opportunity. GP added that this line of reasoning formed initial attraction for the Monaco investors.
It was stated that it was in the club's interest to continue good relations with Chris Wright as Wasps remain contracted to return to LR the season after next. In the event of this not being upheld compensation would have to be negotiated.
It was stated that the Fulham ground-share netted the Club �330,000 which is more than Wasps would have paid but less than originally expected. The main reason for the lower profit was the increased cost of stewarding at the behest of the local authority, for which QPR were on risk.
K McG stated that he felt that the plc and Stock Exchange listings were totally inappropriate for a football club such as QPR whose function was firstly to play football and secondly to reinvest any profits to improve the playing staff and league status. He considered that QPR was a big family and as long as everybody worked together they would achieve their long- term aim. The recent changes in personnel were the start of that process and there would follow a new period of transparency with everybody pulling in the same direction.
Eventually Harold Winton was given the floor for the second time and gave a rallying speech centred on the fact that you could get 66-1 for the QPR to win the championship at Tote bookmakers.
Specific questions were asked in relation to recent stewarding, season ticket delivery and automated phone problems. These appeared to be answered specifically and honestly.
Conclusions
The meeting was carried out in an orderly manner and well chaired by Kevin McGrath. To all intents and purposes all Resolutions were passed unanimously.
People on the top table resisted the temptation to continuously "bad mouth" the old regime however, they were referred too many times in the answers to specific questions from the floor.
It must be asked ask why did QPR not contract with Fulham to pay a stadium rent plus all expenses incurred. This would have quite rightly passed the variable cost risk to Fulham.
No mention was made as to the level of income receivable from Wasps (if any) in the current year (2004/2005).
The overall impression is that David Davies resigned when he failed on numerous attempts to raise new finance for the Club. K McG stated that he was a hired hand in any case, and was likely to get another job.
Nick Blackburn resigned after a lot of pressure probably on the back of the DD situation thus making his position untenable and RJ had done the honourable thing to give the new people a chance to run the club in their own way.
www.qpr1st.co.uk/newspages/august2004.htm
6th October
QPR1st 28 September 04 meeting with QPR board - minutes
Present
* From QPR1st: Justin Pieris, Geoff Gibbs, David Price, with Roger de Freitas as minute taker.
* From QPR: Mark Devlin, Dave Anderson, Bill Power
Rules of engagement
There were no specific rules of engagement, unlike our dealings with the previous incumbents at QPR. BP indeed made a great show of his openness and willingness to keep us informed and to answer questions..
Minute taker's observation; this was, as on a previous occasion, an encounter full of discussion and observations and light on straight questions and answers and minuted as such, thematically. It all started when BP arrived a little after six, and ended at 19.20 when MD was buried in phone calls about delaying the kick off because of the traffic chaos on the A40.
1. Future meetings
JP suggested a slate of dates for future meetings, every two months, before home games. BP thought that this was quite unnecessary as he thought the new board was very open at all times. We could ask him anything and we'd get a reply at any time. He had no objections to talking to us, but he thought we didn't need loads of meetings.
MD later said that he'd agree to the dates proposed and he would work with DA to try to get board members along. The dates would be 13/11/04 Wigan, 15/1/05 Stoke, 12/3/05 Watford, May at end of season, and August at start of season.
2. Finances
QPR was a limited company once again. However, the two-tier structure remains. QPR Holdings Ltd and QPR AFC Ltd.
BP thought that Barnaby was a more relaxed investor now it had actually come in: it had seen that how the board was trying to go was agreeable to it and was going in a direction that the group would be happy with.
The details of the ownership of the partnership that is Barnaby are not known. BP stated Dunga had a substantial percentage of the10 per cent that Barnaby owns.
BP reflected that he'd rather have more owners with about 15 per cent, so that they were all in the same boat. He was quite happy that Barnaby was not desperate to go for a bigger stake.
The 20 per cent of shares that's up for allocation will be sorted out in a matter of days. (Ed: The club recently announced that another Monaco-based group, named Wanlock had indeed taken up the option on those shares and that would result in an injection of �1.1m which will go towards stabilising the club.) The money would be in by the end of October.
BP said they were actively trying to sort out the CW shares. The principle of CW parting with them had been established, and now they were just arguing over the money. The shares would come back, but CW was looking for the same sort of deal that Ross Jones had suggested at the AGM, with some money (3.5p) going to himself and some (3p) to the club. KM was doing the talking.
DA said there had been some useful time spent examining the published accounts of the CW and administration eras, and more study would surely add to what had already proved to be revealing. DA said he had been onto BDO and met the administrator Ray Hocking after disturbing matters had come to light about the administration period and its accounts. The activities during administration are being closely investigated.
Hocking had recently resurfaced as being involved with ABC, the group that had loaned the club the �10m to get out administration. The club has flagged this as a conflict of interest, and has interviewed Hocking about this.
Wasps were expected to return next season or to make a considerable payment in compensation. The club expected the numbers to be hundreds of thousands, even a million with the upper being approximately �1.4m. Matters were slightly complicated by the talks with CW over the shares, and the arrival of DD at Wasps.
3. The Ground
The club had decided to make very preliminary investigations about developing the ground.
Contrary to impressions gained from the press there was nothing firm to consider. Any meetings with the council amount merely to meetings with Reg McLaughlin and other local councilors. Officers have not yet been involved.
The aim would be to add 5 - 7000 extra seats, and catering and entertainment and banqueting facilities, which would allow more revenue from greater use of the site.
Matters were complicated by the CW era decision not to buy the land behind the school end, which had recently been redeveloped into housing and a new school.
Any development would include substantial community benefits.
Over the summer, some seats had been removed from the diabolical view area of the school end. Experience had shown that away fans with tickets for that area moved into other seat and then there�d be a squabble with other ticket holders. Home supporters were happy to buy such seats.
The club was aware of Brentford's plight. There were no formal moves about ground share. Ground relocation was not on anyone�s radar - MD
4. Stewarding
MD thought almost at end of a painful period whilst the stewarding contract has changed.
Lots of conflict of interest between the regulators and the service providers.
Evidence that we have been thoroughly over-stewarded for a long time. Little accountability under the old r�gime. People not properly accounted for. That was now being addressed. MD said it was useful to have had experience of how another club had met licensing demands.
A review of the number of key points of access that needed to be stewarded suggested that there was a big saving to be made if the key points were reassessed at about a third less. Custom and practice had led to the stewarding growing relentlessly more expensive.
Now bringing in additional firms to work in split contracts alongside CES, in an effort to raise competition and standards and to increase the number of firms who were familiar with the site and the club.
5. Accounts
Accounts would appear before Christmas showing a loss, of about �4.25m, on the basis of what KM had said at the agm in August.
Current liabilities included �1.4m PAYE and �300k VAT.
6. Olly and Diaz � clarification
MD thought the new board felt that it had not got Olly into the loop, and that there was a period of misunderstanding when Olly went on doing things his way, the way he'd been used to, and the board wanted more control. Simple really.
The air had been cleared. Olly had been told to keep us in this division, but within tight budgets. MD thought supporters would understand that there had to be a period of adjustment. Diaz was not in the picture.
7. Other matters
Des Bulpin was leaving the centre of excellence in a cost saving manoeuvre. Other staff including Joe Gallen and Garry Waddock would carry out his work.
A member had asked about away ticket pricing, specifically Gills and Brighton. JP said that he�d check about prices charged on the day at other parts of the ground to be sure that away support was not being charged more, and report on this to MD.
The meeting ended at 19.20. Thankfully, MD managed to juggle speaking with us and making the correct decision to delay kick-off whilst supporters struggled to get to Loftus Road through the awful traffic.
QPR 1st
www.qpr1st.co.uk/newspages/august2004.htm
Many thanks to QPR1st for having done these reports back in 2004
And flashback to that magic moment for Gianni - a moment that we all share: Our first time of seeing QPR
At Wycombe in MArch 2004...as QPR came from 0-2 down to draw 2-2.
The QPR team that Day:
QPR's team that day: Camp, Forbes, C arlisle, Gnohere, Rowlands, McLeod, Bircham, Johnson, Gallen, Thorpe, Furlong - subs Edghill, Bean, Cureton - Subs not used Day, Palmer Scorers: Gallen (46), Rowlands (68)
Paladini describing his first game in his QPR World Q&A"..... I first heard about QPR through my accountant and I went to the game against Wycombe where it was very windy and we came back from 2-0 down. I met Bill Power at the game and I got hooked. The club then asked me to help out and I did." www.qpr.premiumtv.co.uk/page/QA/0,,10373,00.html
WYCOMBE MATCH REPORT
Wanderers recorded their ninth draw in eleven games after they threw away a two goal lead to draw with promotion chasing Queens Park Rangers at a windswept Adams Park. In front of the biggest League gate of the season at Adams Park and with the wind behind them, Wanderers scored twice in three first half minutes through Matt Bloomfield and Craig Faulconbridge but things were levelled up after the break as the wind turned the game into a near lottery. Kevin Gallen pulled a goal back a minute after the re-start and then on 68 minutes 'Wanderers reject' Martin Rowlands floated in a cross/shot from the right wing that Steve Williams watched sail over his head and into the back of the net. Danny Senda came closest to winning it for Wycombe when he went close in the 75th minute while Williams made up for his earlier misjudgement when he made late saves to frustrate the large travelling contingent from West London.Tony Adams made one change to the side that had drew in the week versus Colchester United - a not fully fit Jermaine McSporran dropping to the bench and Danny Senda moving forward to the right of midfield and Mark Rogers returning to the side at right back for his first appearance since Boxing Day.The effect of the wind was difficult to gauge in the opening stages where Wycombe's best chance came on 7 minutes when Nathan Tyson dragged a shot wide from the left after a good through ball from Michael Simpson. It was Tyson who played a major part in both of Wycombe's goals. First on 26 minutes he raced in on the left side of the penalty but under challenge from Clarke Carlise the ball deflected across the face of the goal where Bloomfield was waiting to convert his first goal in Wycombe shirt. Three minutes later Tyson broke again down the left and this time centred for Faulconbridge to cooly finish for his first goal since February 2003.Tyson was the centre of attention again three minutes before the break when he fought back to retrieve the ball down the right only for Carlisle to challenge roughly backed up by Marc Bircham. Tyson seemed to react by raising his arms to Carlisle and will probably be grateful for only picking up a yellow card along with the Rangers player.Half-time Wycombe 2 QPR 0It was disappointing from Wycombe's point of view to concede so soon after the re-start when Kevin Gallen made the most of poor defending from Wycombe as he was able to take a touch on the right side of goal before finishing past Williams.
However, Wanderers almost restored their two goal advantage on 61 minutes when Currie's goalbound free-kick from the left seemed to be headed over by Faulconbridge from inside the Rangers six yard box.QPR's equaliser will go down as freak goal - Rowlands slung in a cross from the right that swirled and dipped in the wind before nestling in the far corner of the net. Most onlookers would have made QPR favourites to win from this point but Wanderers stuck in there and there was a chance to claim victory when Steve Brown's through ball to Tyson on 75 minutes culminated in Simpson and finally Senda seeing their efforts on goal twarted. At the other Williams made an excellent save from a Gallen free-kick on 82 minutes and with five minutes left on the clock he pushed away another Gallen attempt to earn Wycombe their deserved point and perhaps in more favourable conditions it would have been three.Final Score - Wycombe 2 QPR 2
Rangers boss Ian Holloway commented on the conditions that had spoiled the game as spectacle, commenting "It was a really surreal day. I've never seen wind affect a football match like that before - not even in my amateur days. It was the most bizarre half time experience of my life. I wanted to scream and shout - but I also didn't think it was necessary. I just knew we'd get back in it.".
Meanwhile, Tony Adams said he thought at half time that the two goal lead was not going to be enough bit and was frustrated that Wanderers had conceded straight away after the break. The Wycombe gaffer also didn't concede that his team were relegated "They're giving me everything they've got and as a manager I can't ask for more from them. They haven't thrown the towel in yet and they haven't done since I've been here. We may only have eight games left to avoid the drop but we're going to keep fighting until the last. If we win the last eight games, we'll stay up. Are we going to win the last eight? We'll most definitely try and that's all we can do."
Wycombe: Williams, Rogers (sub 87 McSporran), Vinnicombe, Johnson, Nethercott, Senda, Simpson, Currie (sub 77 Philo), Bloomfield, Faulconbridge (sub 63 Brown), Tyson - subs not used: Simpemba, DixonBookings: Tyson (ungentlemanly conduct 42)Scorers: Bloomfield (26), Faulconbridge (29)
QPR: Camp, Forbes (sub HT Edghill), Carlisle, Gnohere, Rowlands, McLeod (sub 75 Cureton), Bircham (sub 86 Bean), Johnson, Gallen, Thorpe, Furlong - subs not used Day, PalmerBookings: Carlisle (foul 42), Bircham (foul 59)Scorers: Gallen (46), Rowlands (68)http://www.chairboys.ndirect.co.uk/onthenet/reports0304/qpr-h-20mar2004.htm
Read more: qprreport.proboards.com/thread/2973/years-ago-first-mention-paladini#ixzz5CpPxBGox
20 Years Ago the first comment regarding the news/rumours that Gianni Paladini was interested in buying into QPR -(Maybe it was mentioned on the Boards but if so, I havent seen "Laissez Les Bon Temps Roulez"
From The Archives of QPR1st:
April 15, 2004: This Statement from QPR 1st
Three investors circle QPR
QPR1st has learnt that a third potential investor in QPR has emerged. In some respects this could be positive news if it means that people are beginning to see Rangers as a viable business proposition. However, there is still plenty of room to be cautious, since two have previously explored investing in QPR and have not yet gone through with it while the third has plenty of history elsewhere in the football world.
The latest interested party to emerge is Gianni Paladini. This was reported in the Daily Express this morning but the story has subsequently been confirmed to QPR 1st by QPR chief executive David Davies. Davies stated that Paladini is looking to invest, rather than take a controlling stake.
Gianni Paladini came very close to a majority buyout of Port Vale in December 2003, through a corporate vehicle named Vantis. However, at the very last minute, another party was given priority by the Port Vale board. Some sources say that this was related to Paladinis' stated desire to be the new Port Vale Chairman, others that he simply wasn't a credible bidder with sufficient funds. In an interview with BBC Stoke he claimed he had shown the Port Vale board proof of funds before they pulled-out of the deal. www.bbc.co.uk/stoke/sport/portvale/2003/12/vale_takeover3.shtml
Whatever the truth, there does appear to have been a significant falling-out between Paladini and Bill Bratt the Port Vale Chairman.
QPR 1st continues to explore Paladinis' provenance. It is understood that Vantis had recently taken an interest in 'investing in' or 'acquiring' a couple of clubs ... Port Vale and Notts County.
Opinion amongst Vale supporter groups appears to back the Port Vale boards' position in rejecting Paladinis' advances. Port Vale Supporters' Trust (VAST) and Supporters Direct uncovered a series of County Court Judgments against him. Davies explained to us that these are public knowledge and arose from disputes between Paladini and another football agent. That does not mean that they should be ignored, however.
Supporters groups also discovered that, despite his early denials, Paladini was a director of several companies, including a Leeds-based property development company.
Davies confirmed that the critical difference between the Vantis interest in Port Vale and the current Paladini interest in QPR is that at Vale Vantis was attempting a complete takeover attempt, whilst Paladini is seeking to invest in QPR as an individual and not to take a majority stake. This,claims Davies, should ease supporters' worries about the ground being property-developed, as the rest of the QPR board would have to agree to such a thing. At the time of the Paladini takeover attempt at Vale, it was claimed by some that he was only interested in Vale for property development.
Meanwhile Milwaukee Wave, whose owner Tim Krause has long been looking at investing in QPR, remains interested and looks to be moving to reflect that through investment.
Last, but not least, the Brian Rowe-led consortium, which also includes the Anelka brothers, is still looking to invest.
Davies confirmed that there was a possibility of a combination of two of the three parties/ groups working together and being able to invest independently. He also confirmed that an announcement about this could come earlier or later than this Monday, as stated in the Express.
Meanwhile, the board must pick none, one or two from three. QPR1st calls on the board of QPR to take great care making their decision. Whilst recognising that failure to secure inward investment will almost certainly leave the club dangerously exposed as the season draws to a close, we recommend that prospective bidders be examined as closely as ever. At a time when the club is about to play a crucial promotion game, we have a critical weekend ahead of us.
Followed by:
BBC - April 28, 2004 - Paladini buys stake in QPR
QPR have finally found an investor
Italian businessman and agent Gianni Paladini has bought
a 22% stake in Queens Park Rangers.
Paladini, who has represented Fabrizio Ravanelli and Benito
Carbone, has invested around £650,000 and more cash
may follow in the future.
QPR have been seeking investors since coming out of administration in 2002.
The board are speaking to other groups interested in buying a major stake, including
American Tim Krause and a consortium fronted by Brian Rowe.
Krause is the president of Milwaukee Wave, the American club QPR
entered into a partnership agreement with last year.
Lifelong R's fan Rowe was commercial director at Loftus Road
under former owners Jim Gregory and Richard Thompson. BBC
Standard/Matt Hughes - April 28, 2004
Rangers are lifted as Italian pumps millions into club.
QUEENS PARK RANGERS have received a huge boost ahead of Saturday's promotion clash with Swindonin the form of a multi-millionpound investment from Italian businessman and agent Gianni Paladini, writes Matt Hughes.
Paladini's Leeds-based property company, Moorband Limited, have bought a 22 per cent share in QPR Holdings and could increase their stake further if the club win promotion-to the First Division. Paladini has more than 30 years' experience as a football agent and will play a key role in restructuring the QPR squad this summer."
Moorbound Ltd Buy 22% of QPR Holdings
QPR have announced that Moorbound Ltd have bought 22% of the PLC's issued shares giving the club a much needed cash injection of around �650,000.
The deal sees Azeem Malik and Gianni Paladini join the board at QPR. Gianni Paladini is a former agent who represented many of the foreign stars who joined Middlesborough in the 1990's. Ravenelli, Juninio and Emerson were all on Paldini's books but he is now no longer a football agent after investing his money into QPR.
Chief Executive David Davies was delighted with the investment and told www.qpr.co.uk " "Moorbound were hoping to retain some confidentiality until the end of the season, but following speculation in the press, the Board have decided to confirm the investment.
"They have taken a substantial stake in the business and with Gianni's experience in football, it should be a great aid to us.
"They bring skills to the table and Nick, Ian and I are looking forward to working with them."
Gianni Paladini has the option to buy up to 51% of the shares if no new investment is forthcoming which would make his move a take-over and a little more concerning to QPR fans. Paldini attempted to take over Port vale earlier this season but fans grew nervous of the agents plans and were very pleased when his bid failed.
Port Vale fan Mark posted on this website a few weeks ago warning of paldinis intentions. He said; "He (Paldini) promised to bring Fabrizio Ravenelli to Vale Park, much as he is now promising to take Carbone to Loftus Road for QPR. He also repeatedly reduced the ammount he claims to want invest initially in the club. He was part of a consortium to send us to a new stadium and sell Vale Park to a property developer (part of the consortium!). "
"The Vice Chairman was on his side but the fans didn't trust him, with good reason, as he wanted to take ythe club to sole ownership and away from its fan-owned status. Like you with Chris Wright, we had a bad time with our former Owner Bill Bell who during his time consiered moving us in with Stoke, or even a merger, just like QPR with Wimbledon a couiple of years ago. So we know the perils of sole ownership. Paladini changed his story so much we knew he had vested interests and he promised the earth with a view to making a killing on our ground in a scam with his wealthy friends."
"Fortunately the majority of the board backed the fans and told him where to go, instead attracting a local entrepreneur to buy a load of shares. I know investors aren't banging to door down at QPR but it would be a black day in the club's history if they took Paladini and his pals on. Don't listen to him, he's less trustowrthy than both Wright and they guy who owned QPR before (Richard something wasn't it?). At least they had the credentials of being successful businessmen - Paladini is a football agent. Sly, devious, underhand are his middle names."
"Go to www.onevalefan.co.uk and ask the fans there for more details. Be warned and take care."
The QPR supporters Trust QPR 1st have given Paldini a cautious welcome to the club. A statement on the QPR 1st website said: "QPR1st gives a cautious welcome to the investment made by Moorbound Ltd, a company of former-football agent Gianni Paladini. We are pleased to see that the Club Board has at last succeeded in attracting inward investment to QPR, but there are a number of questions that we would like to see addressed, primarily to do with the deal itself and with the business credentials of Mr Paladini and his team.
In particular, we are keen to know roughly how much has been invested to secure 22% of QPR shares and what further investment plans Mr Paladini's company has. These questions alone have become pressing, since Mr Paladini's emergence as a bidder has generated substantial rumour, which QPR1st does not believe is good for either the Club or its support.
Also, should Mr Paladini's company exercise its option, as a part of this agreement, to extend the 22% to 51%, it would make this deal the beginning of an effective takeover rather than an 'investment', although QPR confirms that the Board is at the advanced stages of negotiations with other interested parties.
Given the potential that Mr Paladini could shortly have control of QPR, we call on the Board to explain what checks of Mr Paladini's business credentials and background have been done (we understand from QPR chief executive David Davies that every test so far put in front of Mr Paladini has been met on time). Meanwhile, we are seeking talks with Mr Paladini, to establish exactly what his company's involvement will mean for QPR."
Despite one or two doubts about the new investor it is good to see the club attracting some money at last and hopefully this will turn out to be an excellent move for the club and hewlp take us forward.
QPR1st Statement - 28th April 2004
QPR1st gives a cautious welcome to the investment made by Moorbound Ltd, a company of former-football agent Gianni Paladini. We are pleased to see that the Club Board has at last succeeded in attracting inward investment to QPR, but there are a number of questions that we would like to see addressed, primarily to do with the deal itself and with the business credentials of Mr Paladini and his team.
In particular, we are keen to know roughly how much has been invested to secure 22% of QPR shares and what further investment plans Mr Paladini's company has. These questions alone have become pressing, since Mr Paladini's emergence as a bidder has generated substantial rumour, which QPR1st does not believe is good for either the Club or its support.
Also, should Mr Paladini's company exercise its option, as a part of this agreement, to extend the 22% to 51%, it would make this deal the beginning of an effective takeover rather than an 'investment', although QPR confirms that the Board is at the advanced stages of negotiations with other interested parties.
Given the potential that Mr Paladini could shortly have control of QPR, we call on the Board to explain what checks of Mr Paladini's business credentials and background have been done (we understand from QPR chief executive David Davies that every test so far put in front of Mr Paladini has been met on time). Meanwhile, we are seeking talks with Mr Paladini, to establish exactly what his company's involvement will mean for QPR.
www.qpr1st.co.uk/newspages/april2004.htm
16th August 2004
Notes on QPR Holdings AGM held at Bush Hall at 3.30 pm on 4 August 2004
The meeting was chaired by Kevin McGrath who made it clear from the outset that he intended to resign as Chairman at the end of the meeting and subject to agreement, be replaced by Bill Power.
The other people on the stage were:
� Bill Power (Director and Chairman designate)
� Mark Devlin (recently appointed Chief Executive Officer)
� Dave Anderson (QPR 1 st 's previous Head of Finance and recently appointed Company Secretary)
� Chris Pennington (recently appointed full-time Financial Officer)
� Aseem Malik (recently appointed Director representing the interests of G Paladini).
Under the new regime it is assumed that the Club will make public the Minutes of the meeting and therefore this is a summary of the main points and not necessarily exhaustive.
K McG began by reminding the meeting that the new regime had only been running the plc "hands on" for the last two months. He also informed the meeting that Ross Jones and G Paladini were both in attendance, and would be willing to take questions from the floor after the formal resolutions had been dealt with.
Accounts
K McG apologised for the late delivery of the accounts and stated that this delay was unacceptable. He advised that the 2003/04 accounts would show similar losses to 2002/03, which amounted to �4.3m. It is anticipated that these accounts will be available at the end of 2004 and were currently being prepared by David Anderson with the assistance of Chris Pennington. K McG went on to state that new investment was needed of at least �2m to fund the ongoing losses and enable the club to pay its most pressing creditors i.e. Inland Revenue and Customs & Excise. It was stated that the proposed investment from Monaco was likely to be scaled down. The proposed investors were given an exclusivity period which recently ended. This meant that the club could speak again to other potential investors.
Questions followed in relation to the accounts. There was discussion about the Auditor's comments in relation to the fundamental uncertainty referred to in the accounts. This stated that additional funding needed to be raised. The board agreed that this funding is obviously necessary.
The only question that caused any heated discussion during the meeting was in relation to the Related Party Transactions and the fact that the Company believed it was owed over �200,000 by Anaid Holdings Limited (i.e. The Wintons). Harold Winton was then allowed to speak and he explained the basis of the "shiteeeeeeeetu deal" which formed the crux of the dispute. The problems arose when Ron Noades (then Brentford owner) sought to prevent QPR signing any new players via We Are QPR's expense and subsequently getting the club to pay wages. We Are QPR had then agreed to pay DS's wages until the club's exit from administration. The Club now dispute this fact, and want the ongoing wages since administration to be paid by the Wintons.
K McG stated that this dispute was likely to be resolved by discussion between the parties and there would be no more threats of going to court or arbitration and thus no legal fees incurred. Furthermore, it was confirmed that the club is not being sued or suing anybody else on an ongoing basis.
Resolutions
All of the resolutions forming the ordinary business of the AGM were passed on the basis of a show of hands. There were one or two votes against each resolution but never substantial objection.
Resolutions 5 and 6 in relation to the allotment and pre-emption of shares were passed subject to an amendment i.e. the board was only given powers for a one year period, subject to renewal and ratification at the next and subsequent AGMs rather than the five year period proposed.
All of the other resolutions in relation to the company's name and Memorandum & Articles were passed.
Other questions
Various other questions were asked in relation to proposed new investment. It was stated the current price being asked and paid for shares was 6.5p each. The board were asked whether or not an offer could be made to all existing shareholders asking if they wished to take up more shares at that price. RJ explained that this might have a detrimental effect on attracting a new investor, as they would want to acquire a significant proportion of the company (albeit as a minority). This would enable the investor in conjunction with others to exercise total control. RJ went on to state that he was willing to sell all or part of the 1.35m shares that he owned personally for the price of 6.5p each on the proviso that he received 3p a share and the other 3.5p per share would go to the Club.
The issue of the ABC loan was discussed in detail. This was referred to by K McG "a dog" but RJ explained that the loan was taken up at 10% as the club had no other options available and the Football League had threatened to not include QPR in the Fixture list for 2002/3 unless the club were out of Administration. A member of the floor challenged RJ, stating that a cheaper, more flexible arrangement was on offer at the time at a rate of 6% provided by a more traditional banking source. RJ stated that at the time the main banks were running shy of lending to football clubs on the basis that were they to foreclose on the deal, this would not only alienate the fans of QPR but football fans in general.
Another member of the floor stated that everybody knew the person behind the ABC loan and asked whether the top table would confirm the name of the person. They stated they were not able to do this on the basis of the confidentiality agreements surrounding the loan. K McG did however state that the previous administrators, BDO Stoy-Haywaard now acted for ABC and enquiries were made as to any potential conflicts of interest.
It was stated that Holloway had been given a budget of �500,000 over that originally envisaged and the mission was to establish QPR as a mid table Championship team challenging for a play off position. RJ stated that as a result of promotion to the Championship there will be �2m - �2.5m extra income per annum and once the club was established it could go forward and then challenge for promotion to the Premiership but this process was likely to take three to four years.
It was stated that Chris Wright had previously intended to vote against the resolutions at the AGM but the current Board had asked Nick Blackburn to liase with Wright who eventually changed his mind.
It was confirmed that G Paladini had invested �650,000 into the club and that Bill Power had recently bought some more shares to assist with ongoing cashflow.
Gino Paladini spoke about various ways he could help the club particularly the current shirt deal with Binatone, which currently nets �80,000 per annum. GP stated that he feels that a more lucrative shirt deal could easily be achieved on the basis that QPR is a very well known brand in the football world. He argued that this, coupled with the club's location in central London , represents a lucrative commercial opportunity. GP added that this line of reasoning formed initial attraction for the Monaco investors.
It was stated that it was in the club's interest to continue good relations with Chris Wright as Wasps remain contracted to return to LR the season after next. In the event of this not being upheld compensation would have to be negotiated.
It was stated that the Fulham ground-share netted the Club �330,000 which is more than Wasps would have paid but less than originally expected. The main reason for the lower profit was the increased cost of stewarding at the behest of the local authority, for which QPR were on risk.
K McG stated that he felt that the plc and Stock Exchange listings were totally inappropriate for a football club such as QPR whose function was firstly to play football and secondly to reinvest any profits to improve the playing staff and league status. He considered that QPR was a big family and as long as everybody worked together they would achieve their long- term aim. The recent changes in personnel were the start of that process and there would follow a new period of transparency with everybody pulling in the same direction.
Eventually Harold Winton was given the floor for the second time and gave a rallying speech centred on the fact that you could get 66-1 for the QPR to win the championship at Tote bookmakers.
Specific questions were asked in relation to recent stewarding, season ticket delivery and automated phone problems. These appeared to be answered specifically and honestly.
Conclusions
The meeting was carried out in an orderly manner and well chaired by Kevin McGrath. To all intents and purposes all Resolutions were passed unanimously.
People on the top table resisted the temptation to continuously "bad mouth" the old regime however, they were referred too many times in the answers to specific questions from the floor.
It must be asked ask why did QPR not contract with Fulham to pay a stadium rent plus all expenses incurred. This would have quite rightly passed the variable cost risk to Fulham.
No mention was made as to the level of income receivable from Wasps (if any) in the current year (2004/2005).
The overall impression is that David Davies resigned when he failed on numerous attempts to raise new finance for the Club. K McG stated that he was a hired hand in any case, and was likely to get another job.
Nick Blackburn resigned after a lot of pressure probably on the back of the DD situation thus making his position untenable and RJ had done the honourable thing to give the new people a chance to run the club in their own way.
www.qpr1st.co.uk/newspages/august2004.htm
6th October
QPR1st 28 September 04 meeting with QPR board - minutes
Present
* From QPR1st: Justin Pieris, Geoff Gibbs, David Price, with Roger de Freitas as minute taker.
* From QPR: Mark Devlin, Dave Anderson, Bill Power
Rules of engagement
There were no specific rules of engagement, unlike our dealings with the previous incumbents at QPR. BP indeed made a great show of his openness and willingness to keep us informed and to answer questions..
Minute taker's observation; this was, as on a previous occasion, an encounter full of discussion and observations and light on straight questions and answers and minuted as such, thematically. It all started when BP arrived a little after six, and ended at 19.20 when MD was buried in phone calls about delaying the kick off because of the traffic chaos on the A40.
1. Future meetings
JP suggested a slate of dates for future meetings, every two months, before home games. BP thought that this was quite unnecessary as he thought the new board was very open at all times. We could ask him anything and we'd get a reply at any time. He had no objections to talking to us, but he thought we didn't need loads of meetings.
MD later said that he'd agree to the dates proposed and he would work with DA to try to get board members along. The dates would be 13/11/04 Wigan, 15/1/05 Stoke, 12/3/05 Watford, May at end of season, and August at start of season.
2. Finances
QPR was a limited company once again. However, the two-tier structure remains. QPR Holdings Ltd and QPR AFC Ltd.
BP thought that Barnaby was a more relaxed investor now it had actually come in: it had seen that how the board was trying to go was agreeable to it and was going in a direction that the group would be happy with.
The details of the ownership of the partnership that is Barnaby are not known. BP stated Dunga had a substantial percentage of the10 per cent that Barnaby owns.
BP reflected that he'd rather have more owners with about 15 per cent, so that they were all in the same boat. He was quite happy that Barnaby was not desperate to go for a bigger stake.
The 20 per cent of shares that's up for allocation will be sorted out in a matter of days. (Ed: The club recently announced that another Monaco-based group, named Wanlock had indeed taken up the option on those shares and that would result in an injection of �1.1m which will go towards stabilising the club.) The money would be in by the end of October.
BP said they were actively trying to sort out the CW shares. The principle of CW parting with them had been established, and now they were just arguing over the money. The shares would come back, but CW was looking for the same sort of deal that Ross Jones had suggested at the AGM, with some money (3.5p) going to himself and some (3p) to the club. KM was doing the talking.
DA said there had been some useful time spent examining the published accounts of the CW and administration eras, and more study would surely add to what had already proved to be revealing. DA said he had been onto BDO and met the administrator Ray Hocking after disturbing matters had come to light about the administration period and its accounts. The activities during administration are being closely investigated.
Hocking had recently resurfaced as being involved with ABC, the group that had loaned the club the �10m to get out administration. The club has flagged this as a conflict of interest, and has interviewed Hocking about this.
Wasps were expected to return next season or to make a considerable payment in compensation. The club expected the numbers to be hundreds of thousands, even a million with the upper being approximately �1.4m. Matters were slightly complicated by the talks with CW over the shares, and the arrival of DD at Wasps.
3. The Ground
The club had decided to make very preliminary investigations about developing the ground.
Contrary to impressions gained from the press there was nothing firm to consider. Any meetings with the council amount merely to meetings with Reg McLaughlin and other local councilors. Officers have not yet been involved.
The aim would be to add 5 - 7000 extra seats, and catering and entertainment and banqueting facilities, which would allow more revenue from greater use of the site.
Matters were complicated by the CW era decision not to buy the land behind the school end, which had recently been redeveloped into housing and a new school.
Any development would include substantial community benefits.
Over the summer, some seats had been removed from the diabolical view area of the school end. Experience had shown that away fans with tickets for that area moved into other seat and then there�d be a squabble with other ticket holders. Home supporters were happy to buy such seats.
The club was aware of Brentford's plight. There were no formal moves about ground share. Ground relocation was not on anyone�s radar - MD
4. Stewarding
MD thought almost at end of a painful period whilst the stewarding contract has changed.
Lots of conflict of interest between the regulators and the service providers.
Evidence that we have been thoroughly over-stewarded for a long time. Little accountability under the old r�gime. People not properly accounted for. That was now being addressed. MD said it was useful to have had experience of how another club had met licensing demands.
A review of the number of key points of access that needed to be stewarded suggested that there was a big saving to be made if the key points were reassessed at about a third less. Custom and practice had led to the stewarding growing relentlessly more expensive.
Now bringing in additional firms to work in split contracts alongside CES, in an effort to raise competition and standards and to increase the number of firms who were familiar with the site and the club.
5. Accounts
Accounts would appear before Christmas showing a loss, of about �4.25m, on the basis of what KM had said at the agm in August.
Current liabilities included �1.4m PAYE and �300k VAT.
6. Olly and Diaz � clarification
MD thought the new board felt that it had not got Olly into the loop, and that there was a period of misunderstanding when Olly went on doing things his way, the way he'd been used to, and the board wanted more control. Simple really.
The air had been cleared. Olly had been told to keep us in this division, but within tight budgets. MD thought supporters would understand that there had to be a period of adjustment. Diaz was not in the picture.
7. Other matters
Des Bulpin was leaving the centre of excellence in a cost saving manoeuvre. Other staff including Joe Gallen and Garry Waddock would carry out his work.
A member had asked about away ticket pricing, specifically Gills and Brighton. JP said that he�d check about prices charged on the day at other parts of the ground to be sure that away support was not being charged more, and report on this to MD.
The meeting ended at 19.20. Thankfully, MD managed to juggle speaking with us and making the correct decision to delay kick-off whilst supporters struggled to get to Loftus Road through the awful traffic.
QPR 1st
www.qpr1st.co.uk/newspages/august2004.htm
Many thanks to QPR1st for having done these reports back in 2004
And flashback to that magic moment for Gianni - a moment that we all share: Our first time of seeing QPR
At Wycombe in MArch 2004...as QPR came from 0-2 down to draw 2-2.
The QPR team that Day:
QPR's team that day: Camp, Forbes, C arlisle, Gnohere, Rowlands, McLeod, Bircham, Johnson, Gallen, Thorpe, Furlong - subs Edghill, Bean, Cureton - Subs not used Day, Palmer Scorers: Gallen (46), Rowlands (68)
Paladini describing his first game in his QPR World Q&A"..... I first heard about QPR through my accountant and I went to the game against Wycombe where it was very windy and we came back from 2-0 down. I met Bill Power at the game and I got hooked. The club then asked me to help out and I did." www.qpr.premiumtv.co.uk/page/QA/0,,10373,00.html
WYCOMBE MATCH REPORT
Wanderers recorded their ninth draw in eleven games after they threw away a two goal lead to draw with promotion chasing Queens Park Rangers at a windswept Adams Park. In front of the biggest League gate of the season at Adams Park and with the wind behind them, Wanderers scored twice in three first half minutes through Matt Bloomfield and Craig Faulconbridge but things were levelled up after the break as the wind turned the game into a near lottery. Kevin Gallen pulled a goal back a minute after the re-start and then on 68 minutes 'Wanderers reject' Martin Rowlands floated in a cross/shot from the right wing that Steve Williams watched sail over his head and into the back of the net. Danny Senda came closest to winning it for Wycombe when he went close in the 75th minute while Williams made up for his earlier misjudgement when he made late saves to frustrate the large travelling contingent from West London.Tony Adams made one change to the side that had drew in the week versus Colchester United - a not fully fit Jermaine McSporran dropping to the bench and Danny Senda moving forward to the right of midfield and Mark Rogers returning to the side at right back for his first appearance since Boxing Day.The effect of the wind was difficult to gauge in the opening stages where Wycombe's best chance came on 7 minutes when Nathan Tyson dragged a shot wide from the left after a good through ball from Michael Simpson. It was Tyson who played a major part in both of Wycombe's goals. First on 26 minutes he raced in on the left side of the penalty but under challenge from Clarke Carlise the ball deflected across the face of the goal where Bloomfield was waiting to convert his first goal in Wycombe shirt. Three minutes later Tyson broke again down the left and this time centred for Faulconbridge to cooly finish for his first goal since February 2003.Tyson was the centre of attention again three minutes before the break when he fought back to retrieve the ball down the right only for Carlisle to challenge roughly backed up by Marc Bircham. Tyson seemed to react by raising his arms to Carlisle and will probably be grateful for only picking up a yellow card along with the Rangers player.Half-time Wycombe 2 QPR 0It was disappointing from Wycombe's point of view to concede so soon after the re-start when Kevin Gallen made the most of poor defending from Wycombe as he was able to take a touch on the right side of goal before finishing past Williams.
However, Wanderers almost restored their two goal advantage on 61 minutes when Currie's goalbound free-kick from the left seemed to be headed over by Faulconbridge from inside the Rangers six yard box.QPR's equaliser will go down as freak goal - Rowlands slung in a cross from the right that swirled and dipped in the wind before nestling in the far corner of the net. Most onlookers would have made QPR favourites to win from this point but Wanderers stuck in there and there was a chance to claim victory when Steve Brown's through ball to Tyson on 75 minutes culminated in Simpson and finally Senda seeing their efforts on goal twarted. At the other Williams made an excellent save from a Gallen free-kick on 82 minutes and with five minutes left on the clock he pushed away another Gallen attempt to earn Wycombe their deserved point and perhaps in more favourable conditions it would have been three.Final Score - Wycombe 2 QPR 2
Rangers boss Ian Holloway commented on the conditions that had spoiled the game as spectacle, commenting "It was a really surreal day. I've never seen wind affect a football match like that before - not even in my amateur days. It was the most bizarre half time experience of my life. I wanted to scream and shout - but I also didn't think it was necessary. I just knew we'd get back in it.".
Meanwhile, Tony Adams said he thought at half time that the two goal lead was not going to be enough bit and was frustrated that Wanderers had conceded straight away after the break. The Wycombe gaffer also didn't concede that his team were relegated "They're giving me everything they've got and as a manager I can't ask for more from them. They haven't thrown the towel in yet and they haven't done since I've been here. We may only have eight games left to avoid the drop but we're going to keep fighting until the last. If we win the last eight games, we'll stay up. Are we going to win the last eight? We'll most definitely try and that's all we can do."
Wycombe: Williams, Rogers (sub 87 McSporran), Vinnicombe, Johnson, Nethercott, Senda, Simpson, Currie (sub 77 Philo), Bloomfield, Faulconbridge (sub 63 Brown), Tyson - subs not used: Simpemba, DixonBookings: Tyson (ungentlemanly conduct 42)Scorers: Bloomfield (26), Faulconbridge (29)
QPR: Camp, Forbes (sub HT Edghill), Carlisle, Gnohere, Rowlands, McLeod (sub 75 Cureton), Bircham (sub 86 Bean), Johnson, Gallen, Thorpe, Furlong - subs not used Day, PalmerBookings: Carlisle (foul 42), Bircham (foul 59)Scorers: Gallen (46), Rowlands (68)http://www.chairboys.ndirect.co.uk/onthenet/reports0304/qpr-h-20mar2004.htm
Read more: qprreport.proboards.com/thread/2973/years-ago-first-mention-paladini#ixzz5CpPxBGox
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