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Post by marshbowles10 on Jul 5, 2015 9:31:14 GMT
I have worried for a while that our only sponsors are interlinked with the fortunes of TF.
I sincerely hope that part of the new CEO's job is to find new sponsors so are fortunes are not totally dictated by 'internal companies'.
An article in The Financial Times gives me cause for concern.
The Indonesian affiliate of Air Asia has 4 weeks to raise new equity or risk withdrawal of its operating licence. Air Asia has had a host of problems. The crash last year hit demand at a time when sales were already suffering from a slowing Asian economy and significant competition. Tony Fernandez stated " We are in the process of taking the necessary steps to recapitalize our equity to meet government regulations"
Last month GMT an independent equity research company criticised Air Asia's accounting practices and said the company was 'teetering on default'.
Air Asia rejected the allegations
The Greeks, QPR, Air Asia we're all doomed.
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Post by Macmoish on Jul 5, 2015 10:13:36 GMT
Yes I've seen the various reports. Have no idea how valid/serious they are...or if more the norm...
Obviously Tony Fernandes has returned to focusing on his prime asset: Air Asia - and even if there were problems wouldnt say it, because that would just further undermine confidence in Air Asia - which becomes, self perpetuating
So I guess we have just to wait/see
(Always did like Mittal investment!)
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Post by terryb on Jul 5, 2015 10:53:43 GMT
Should we be worried?
NO, in that this is part of the strategy that our owners have deliberately followed. I'm sure that we could find outside owners if needed. Perhaps car giant would step in again!
YES. I doubt that the club receive as much as one penny of this sponsorship. Our accounts will show it as income (thus reducing our losses) but I suspect the balance sheet will show this as part of our debtors & is used to reduce our debt to our "inter companies"! It will also be used against taxes for our sponsors.
Whichever way you look at it, there is no income from outside the companies owned by our owners. Therefore, we are very reliant on them but we have also limited our liabilities to the same people.
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Post by Macmoish on Jul 5, 2015 11:09:30 GMT
I have in the past wondered whether we could get more from sponsorship than if we went beyond Air Asia
I seem to remember some quote from Fernandes saying the sponsorship for Air Asia
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Dufster
Neil Warnock
I say!
Posts: 548
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Post by Dufster on Jul 5, 2015 11:34:01 GMT
At Board level our club has been a very very insular place with little or no QPR DNA at the table.....I've been emphasising on this board for a long time that our club is too dependent on the benevolence of its current owners and its methods of doing business should be of real concern to all of us!
Perhaps after 4 monumentally disastrous years " Our Tony" might be losing his appetite for the slog ahead given that he now leads 2 businesses that are haemorrhaging money....perhaps that's why we now have 2 Chairman!
I just hope that with a proper Football CEO in place we can step away from that mumbling bumbling idiots influence and revert back to a club that relates to its fan and resembles its past history!
PS! Do us all a favour and do one Tony!
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