15 Years of QPR Trust and Administration

[Macmoish]

Bump - 15 years ago (as of APril 4)

QPR1st April 4

The Trust celebrates its twelfth birthday!

Today marks the twelfth anniversary of the existence of QPR1st, which was founded back on April 4th 2001 in the aftermath of the Club announcing that it was entering administration.

Take a trip down memory lane and read up on the report from the initial meeting that took place at Hammersmith Town Hall.
www.qpr1st.com/news/report-from-initial-meeting-at-hammersmith-town-hall/

www.qpr1st.com/news/the-trust-celebrates-its-twelfth-birthday/

[Macmoish]

And reported on The QPR Official Site at the time

QPR Official Site April 2001


QPR 1st: The Queens Park Rangers Supporters Trust

On Wednesday 4th of April 2001, an initial meeting was held in a London pub by around 30 concerned fans representing various areas of QPR support

The aim of the meeting was to discuss the setting up of a Supporters Trust, in the light of the recent announcement of the club being placed into administration.

The short-term objective is to liase with the Administrators, and to ensure that all areas of QPR support are represented.
The longer term aims are to foster closer relations with the club and its supporters.

Guidance was on hand from a representative of Supporters Direct, a Government-backed organisation offering
support to football supporters and shareholders groups wishing to set up a trust.

A public meeting has been arranged for the evening of Wednesday 18th April, Hammersmith Town Hall, King Street, Hammersmith, with a 7pm start.
All QPR fans, (including anyone with an interest in QPR) and reps from the club and from the press/media etc are invited to attend to listen
to our interim committee, and other guest speakers, regarding our aims and objectives.

In the meantime if you'd like to know more info then contact [e-mail] or 07752 521712. You can also visit our new website,
which has been created by a member on our interim committee, at www.qpr1st.co.uk

Julia Hill, Tracy Stent

Group Coordinators.


© planetfootball/QPR 2001

[Macmoish]

Which followed a couple of days after announcement QPR go into Administration

that thread qprreport.proboards.com/index.cgi?action=display&board=general&thread=12572&page=1#319074

[Macmoish]

makes interesting rereading...and compare to today...

".... "Most clubs don't have the benefit of owning a ground and training ground. That is different in this respect. You've got one individual who has effectively bankrolled the club, whereas with a lot of the other clubs, they have been involved with a lot of commercial lending organisations. The scenerio here is that the assets of the company exceed the liabilities.

"As most people are aware, football clubs are often known to be running on the economics of a madhouse. We are now trying to bring this back into some sense of normality and run things in a proper commercial way as any other company, which means you've got to budget your income and expenditure and balance those...."

QPR Official Site April 2001

RANGERS WILL SURVIVE - EXCLUSIVE

QPR administrator Ray Hocking is confident the club will survive - but it could take some time before new buyers are found.

Two offers to buy the club have already been received following yesterday's announcement that both QPR and Loftus Road plc have been placed into administration, but Hocking will wait until he gets the best offer to ensure the club's survival.

He said: "Getting a new buyer could take a few weeks, but we will wait until we get the right offer. There is no panic to dispose of this in the next few days or the next few weeks. We want to do it properly and we are looking at long-term survival here, not a quick fix. I don't see it as a situation threatening the existence of QPR, more as a necessary step. In the future there will still be a QPR.

"These things vary as to how long it could take to sort out. It could take a couple of weeks, or as we have seen with some clubs, it could take a season or more. It really does depend on who comes along and what offers they put forward. We have to report to the court within 90 days and give them a report of what's happened and what we think the right way forward is."

Hocking revealed that although the club owe � to Chris Wright and �5m to other debtors, QPR is in a much stronger position than other clubs forced into administration.

He said: "Most clubs don't have the benefit of owning a ground and training ground. That is different in this respect. You've got one individual who has effectively bankrolled the club, whereas with a lot of the other clubs, they have been involved with a lot of commercial lending organisations. The scenerio here is that the assets of the company exceed the liabilities.

"As most people are aware, football clubs are often known to be running on the economics of a madhouse. We are now trying to bring this back into some sense of normality and run things in a proper commercial way as any other company, which means you've got to budget your income and expenditure and balance those.

"Regretfully from the creditors point of view, in administration their position is frozen and they will wait to hear from me what my proposals are to them. Clearly I want to get the maximum sum of money from the creditors point of view, the shareholders point of view and ensure there is the both a football club and rugby club going forward."

Loftus Road chief executive David Davies added that the appointment of an administrator could be seen negatively, but it's a chance for the club to be put on an even keel.

He said: "When we announced that Gerry Francis was standing down, we realised as a board that they were mistakes made five years ago. What you are seeing today is a culmination of those mistakes.

"What I have tried to say to the players and staff alike that this is not the time for histrionics. We have a future in front of us and we have expressions of interest. What we have to do now is come together as a club and a unit to make ourselves as attractive a proposition as possible for a new buyer.

"The appointment of an administrator could be seen as a negative step, I see it as a positive one. Ray and his colleagues are here to help us re-organise the company. Most clubs that have gone through this process in recent years have generally come out of it a much more robust and vibrant business than when they went in. I see this as the new beginning of an era for QPR rather than the end of an old one."

[peterg]

Seems like just the other day

[Macmoish]

Bushman's
qprreport.proboards.com/index.cgi?action=downloadattachment&board=general&thread=1612&post=128626&key=BP0bw9eLwXsebK1TfkCs

[Macmoish]

Bump...13 Years ago: Birth of QPR1st...as QPR in trouble

[Macmoish]

Now whatever became of our Administrator, Mr. Hocking?!

BBC

April 3, 200

Tuesday, 3 April, 2001, 13:44 GMT 14:44 UK
Rangers safe, say administrators
chris wright
Chris Wright (left) will still be finding the club


The newly-appointed administrators of Queens Park Rangers have insisted the First Division club's future is not under threat.

Ray Hocking and Simon Michaels, of BDO Stoy Hayward Business Recovery Services, have been appointed joint administrators to holding company Loftus Road plc and their wholly-owned subsidiary QPR.

The administration was applied for by directors of Loftus Road plc as the best course of action for their long-term survival. The company have amassed debts of up to £11m.

"I don't see it as an existence-threatening position. I see it as a necessary step to ensure in the future there will be a Queens Park Rangers," said Hocking.

"Our priority is to secure a buyer for the company and the club and to ensure that creditors receive their monies."


There's no panic to dispose of this in the next few days or the next few weeks
Ray Hocking, QPR administrator

Chris Wright, majority shareholder and chairman of Loftus Road plc, will continue to fund the club and Hocking confirmed that rugby union club Wasps - another subsidiary of Loftus Road plc - has not been put into administration.

Hocking insisted he was in no rush to find a buyer for the company and the club and said: "It could take a couple of weeks and it could take a season or more. It really does depend on who comes along.

"We will wait until we get the right offer. There's no panic to dispose of this in the next few days or the next few weeks. We are looking at a long-term survival programme here, not a quick fix."

Hocking also stressed the club's assets were worth more than their liabilities. "The club owns its ground and its training ground and they are worth considerable sums of money," he said.


I think it's fair to say that the atmosphere among the players is pretty good
David Davies, chief executive of Loftus Road plc

"Any offers that include those have got to be considerable. We have got to be looking well above the £15-20m mark."

David Davies, the newly-appointed chief executive of Loftus Road plc, said the players, currently battling against relegation, remained positive.

"I think it's fair to say that the atmosphere among the players is pretty good," he said. " I see it as the beginning of a new era for QPR.

news.bbc.co.uk/sport2/hi/football/teams/q/qpr/1258207.stm

[Macmoish]

Just missed the anniversary -14 Years

[Macmoish]

Just missed the ANniversary - 15 YEars