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Post by Macmoish on Apr 10, 2013 6:44:31 GMT
But I don't know what they say. I don't want to again splash out as I've done in the past. (This site of course doesn't receive any "income" from advertising or sponsors ) Sometimes it's worth it - such as with the accounts. Sometimes it's not. QPR HOLDINGS LIMITED Document: MG01 - Particulars of a mortgage or charge PARTICULARS OF A MORTGAGE OR CHARGE / CHARGE NO: 56 Filed on: 27 Mar 2013 �4.99 QPR HOLDINGS LIMITED Document: MG01 - Particulars of a mortgage or charge PARTICULARS OF A MORTGAGE OR CHARGE / CHARGE NO: 57 Filed on: 27 Mar 2013 Sub Total �9.98 VAT at 20% �2.00 Total �11.98 www.companiesintheuk.co.uk/Company/AllDocuments/8705
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Post by Macmoish on Apr 16, 2013 11:53:27 GMT
David McIntyre Few have asked about recent loan taken out by QPR from Barclays Hong Kong. Am going to circulate something on it. May appear somewhere later or in papers tomorrow. Failing that will bung something on West London Sport.
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Post by Macmoish on Apr 16, 2013 12:03:38 GMT
GUARDIAN - James Riach
QPR secure bank loan for first time during reign of Tony Fernandes
• Relegation-threatened club finalised £15m loan in March • All parties insist they 'remain wholly committed'James Riach guardian.co.uk, Tuesday 16 April 2013 07.32 EDT Queens Park Rangers secured a £15m loan from Barclays Bank in Hong Kong last month, charged against all the club's assets including Loftus Road, significantly borrowing for the first time during Tony Fernandes's regime as majority owner. Fernandes and his partners finalised the loan on 18 March, in agreement with QPR's remaining shareholders – the family of the Indian steel magnate Lakshmi Mittal. All parties insist they "remain wholly committed to the club's short, medium and long-term objectives". However, with QPR approximately £90m in debt due to the significant loans paid in by Fernandes and his partners during the 2011-12 financial year, totalling £55m, and the Mittal family, who lent £27m, supporters may be concerned at the shift in approach. The £15m was secured on the first working day after QPR's 3-2 defeat to Aston Villa in the Premier League, a result which left them seven points adrift of safety, but the club claims the loan had been agreed well in advance of that date. Following QPR's spending spree during the January transfer window, when the west London club twice broke their transfer record with deals for Loïc Rémy, £8m, and Chris Samba, £15m, in an attempt to preserve their top-flight status, fears have grown that the club will face serious financial difficulty if they are relegated to the Championship at the end of the season. Since Fernandes, a Malaysian airline entrepreneur, secured a 66% stake in August 2011 the club have spent a significant amount on transfer fees and player wages. Accounts for 2011-12 show that QPR's wage bill doubled to £56m and that the club made losses of £23m during that period, which does not include January's splurge. Fernandes recently denied that QPR would be crippled by relegation and claimed that reported figures regarding Samba's wages, said to be in the region of £100,000 per week, were wide of the mark. Last month he insisted QPR's spending needed to be "closely monitored and controlled" and the club says that the Barclays loan could be the first step in a future relationship between the two parties. A spokesman said: "The club's shareholders have an ongoing relationship with Barclays and both parties were keen to extend this relationship to include QPR, particularly in light of the club's stated plans for a new stadium development. "Given the current financial climate, it demonstrates the clear backing banks want to give our shareholders and their plans for the club. The loan is personally guaranteed in full by the club's shareholders, who remain wholly committed to the club's short, medium and long-term objectives." A new ground holding 40,000, more than double the capacity of Loftus Road, has been in the offing but any move is likely to be a distant possibility with more pressing concerns regarding QPR's immediate future. However, the Guardian understands that more progress has been made in recent months after the chief executive, Philip Beard, said last month that relegation would not scupper any plans. Fernandes, who sacked Mark Hughes in November last year, has given Redknapp significant cash to bolster his squad but QPR are currently second-bottom in the Premier League and 10 points behind Villa with five matches remaining this season. www.guardian.co.uk/football/2013/apr/16/qpr-bank-loan-tony-fernandes?CMP=twt_gu
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Post by eastranger on Apr 16, 2013 12:14:52 GMT
So am I right in understanding the club (as opposed to any individual associated with it or investing in it) currently has the following debts?
Fernandes and partners: £55m Mittal family: £27m Barclays Hong Kong: £15m
That's a lot of debt for a championship team to be shouldering...
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simonr
Ian Holloway
Posts: 377
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Post by simonr on Apr 16, 2013 12:15:30 GMT
I've got a very bad feeling about this.
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Post by bowranger on Apr 16, 2013 12:23:26 GMT
This is more than the ABC loan was I believe? Although presumably at a less punitive interest rate. Either way, it is still literally mortgaging our future.
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Post by Macmoish on Apr 16, 2013 12:29:34 GMT
On the bright side, the ABC Loan Was 100% of our debt.
This new loan comprises just about 10-15% of our debt!
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Post by Bushman on Apr 16, 2013 12:39:58 GMT
22/09/2011
Amit Bhatia: “Let’s be clear, previously directors provided loans and those debts no longer exist. They have been wiped out. In fact I would go so far as to describe the club as being debt free.
“Cash is now being provided by the owners with no burden being placed upon the club and we felt that was the best way.
“The main thing is that we’ve brought stability to QPR, which was badly needed. It gives us a chance to achieve what we all want for the club.”
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Post by Macmoish on Apr 16, 2013 12:49:51 GMT
Thanks Bushman, I just tweeted to remind...
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Post by FloridaR on Apr 16, 2013 14:26:48 GMT
Can we get a refund on Samba please ;D
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Apr 16, 2013 17:45:03 GMT
Can we get a refund on Samba please ;D ;D ;D ;D On a serious note though.............Really don't like the sound of this!!! With the wealth of our owners why on earth do we need a loan!!!
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Post by Macmoish on Apr 16, 2013 18:56:33 GMT
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Post by mfnc on Apr 16, 2013 19:19:25 GMT
hoodwinked you all.
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Post by Macmoish on Apr 16, 2013 19:41:41 GMT
Not at all. There's a perfectly reasonable, benign explanation and I look forward to hearing it tomorrow
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Post by mfnc on Apr 16, 2013 20:19:21 GMT
a lot of our support think tony is some sort of messiah, but he will be our downfall.
fans say he is better than what we had in the past, well, those in the past ONLY skimmed the cream off the top, including ecclestone/briatore.
briatore didnt try to re brand QPR, its why the word 'boutique' was used, he tried to change loftus rd for his flunkies, not change it from its roots.
tf will strip the soul out of this club, starting with a new stadium, maybe a kit change here and there, a debt here and there, and some more promises to keep you happy, whilst the 'support' waters down into a unrecognisable crowd of popcorn eaters with westfield bags and a combined ticket to go bowling after the game.
fernandes is not a messiah...he is a very naughty boy.
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Post by birchambluerinse on Apr 16, 2013 20:50:32 GMT
hes feeding us too many sweet things, that we are just going to bust......
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Post by Bushman on Apr 16, 2013 21:20:41 GMT
a lot of our support think tony is some sort of messiah, but he will be our downfall. fans say he is better than what we had in the past, well, those in the past ONLY skimmed the cream off the top, including ecclestone/briatore. briatore didnt try to re brand QPR, its why the word 'boutique' was used, he tried to change loftus rd for his flunkies, not change it from its roots. tf will strip the soul out of this club, starting with a new stadium, maybe a kit change here and there, a debt here and there, and some more promises to keep you happy, whilst the 'support' waters down into a unrecognisable crowd of popcorn eaters with westfield bags and a combined ticket to go bowling after the game. fernandes is not a messiah...he is a very naughty boy. Briatore wants a QPR super-brand Queens Park Rangers co-owner Flavio Briatore say he wants to turn the club into a world wide brand. Rangers have pulled clear of the Championship relegation zone following the investment of Briatore's group. The Italian told BBC London 94.9: "I want to create an international brand and I believe we have the possibility. "QPR is a very nice story, you start from the bottom and reorganise the club. It's much more sexy to take a Championship club up [to the top]." news.bbc.co.uk/sport1/hi/football/teams/q/qpr/7342191.stm
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Post by mfnc on Apr 16, 2013 21:28:52 GMT
a lot of our support think tony is some sort of messiah, but he will be our downfall. fans say he is better than what we had in the past, well, those in the past ONLY skimmed the cream off the top, including ecclestone/briatore. briatore didnt try to re brand QPR, its why the word 'boutique' was used, he tried to change loftus rd for his flunkies, not change it from its roots. tf will strip the soul out of this club, starting with a new stadium, maybe a kit change here and there, a debt here and there, and some more promises to keep you happy, whilst the 'support' waters down into a unrecognisable crowd of popcorn eaters with westfield bags and a combined ticket to go bowling after the game. fernandes is not a messiah...he is a very naughty boy. Briatore wants a QPR super-brand Queens Park Rangers co-owner Flavio Briatore say he wants to turn the club into a world wide brand. Rangers have pulled clear of the Championship relegation zone following the investment of Briatore's group. The Italian told BBC London 94.9: "I want to create an international brand and I believe we have the possibility. "QPR is a very nice story, you start from the bottom and reorganise the club. It's much more sexy to take a Championship club up [to the top]." news.bbc.co.uk/sport1/hi/football/teams/q/qpr/7342191.stmcan you find for me a snippet of a interview with briatore were he says he will move qpr to a new stadium? in the above quotes he is talking fashion within the constraints of loftus rd..
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Post by Bushman on Apr 16, 2013 21:37:20 GMT
Briatore wants a QPR super-brand Queens Park Rangers co-owner Flavio Briatore say he wants to turn the club into a world wide brand. Rangers have pulled clear of the Championship relegation zone following the investment of Briatore's group. The Italian told BBC London 94.9: "I want to create an international brand and I believe we have the possibility. "QPR is a very nice story, you start from the bottom and reorganise the club. It's much more sexy to take a Championship club up [to the top]." news.bbc.co.uk/sport1/hi/football/teams/q/qpr/7342191.stmcan you find for me a snippet of a interview with briatore were he says he will move qpr to a new stadium? in the above quotes he is talking fashion within the constraints of loftus rd.. I think he mentioned something about us playing in Donatella Versace's front room.
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Post by Jon Doeman on Apr 16, 2013 21:43:10 GMT
The amount of whinging you're doing, it's perfect you're on here with an old woman's name! ;D
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Post by mfnc on Apr 16, 2013 22:18:51 GMT
The amount of whinging you're doing, it's perfect you're on here with an old woman's name! ;D calm down jon
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Post by Jon Doeman on Apr 16, 2013 22:44:54 GMT
Chin up maude :-)
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Post by Lonegunmen on Apr 16, 2013 22:48:45 GMT
From Soccernet.com.......
Queens Park Rangers have taken out a £15 million loan against all the club's assets, including their Loftus Road ground, as they prepare for what seems almost certain relegation from the Premier League.
PA Photos Tony Fernandes says he will stay with QPR even if they are relegated • Smith: Path to redemption
Rangers are joint-bottom of the Premier League, having only recorded four wins all season - a statistic in stark contrast with their high spending, which included the signings of £12.5 million Christopher Samba and £8 million Loic Remy.
The West Londoners are owned by Malaysian entrepreneur Tony Fernandes and Indian steel magnate Lakshmi Mittal, who have not borrowed against the club until now.
However, the Guardian reports that, with an estimated debt of £90 million, a change in approach has been taken that may leave supporters concerned.
The loan was secured with Barclays Bank in Hong Kong on the Monday after QPR's 3-2 top-flight defeat to Aston Villa, although it is believed to have been agreed before then.
A spokesman for QPR said: "The club's shareholders have an ongoing relationship with Barclays, and both parties were keen to extend this relationship to include QPR, particularly in light of the club's stated plans for a new stadium development.
"Given the current financial climate, it demonstrates the clear backing the bank wants to give our shareholders and their plans for the club.
"The loan is personally guaranteed in full by the club's shareholders, who remain wholly committed to the club's short, medium and long-term objectives."
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Post by londonranger on Apr 16, 2013 23:39:50 GMT
Personally I think Fernandes will check out. How can he make money on QPR?. His gamble went horribly wrong. When you lose money in an investment, most businessman cut their losses. Only reason buyers with dough get into prem is to make a nice profit. Dont want to beat this overused drum, by yours truly, Bernie Ecclestone knew that this was a losing proposition and how right he was.
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Post by Lonegunmen on Apr 17, 2013 1:56:04 GMT
Hence the loan and noty a personal payoff. What happened to the EPL TV money?
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Post by nomar on Apr 17, 2013 6:04:19 GMT
Just my own feeling, but I don't think the loan thing is anything nearly as threatening as some are worrying about.
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Post by Macmoish on Apr 17, 2013 6:29:53 GMT
Fernandes Tweets
Loan for qpr is for new stadium. Next 2 weeks will be hopefully good news. But work is starting. We will not say anymore on stadium.
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Post by blueeyedcptcook on Apr 17, 2013 7:12:11 GMT
From this day Tony F shall be known as the Loan Ranger and club fans as Loan Rangers. ;D
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Post by Macmoish on Apr 17, 2013 7:15:43 GMT
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Post by Macmoish on Apr 17, 2013 7:45:47 GMT
This is how I started the thread!
Update from Company House
The following changes have been detected: 16 Apr 2013 New Company Document Available Form: MG01 - Particulars of a mortgage or charge PARTICULARS OF A MORTGAGE OR CHARGE / CHARGE NO: 9 Purchase a copy of this document for £4.99 + VAT
Company Mortgage DEBENTURE OUTSTANDING
16 Apr 2013 New Company Document Available Form: MG01 - Particulars of a mortgage or charge PARTICULARS OF A MORTGAGE OR CHARGE / CHARGE NO: 9 Purchase a copy of this document for £4.99 + VAT
Company Mortgage DEBENTURE OUTSTANDING
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