Post by QPR Report on May 29, 2010 7:28:27 GMT
Again as reported by QPR1st at the time
QPR Holdings 2008 AGM - Wednesday, 16 April 2008 00:00
"The AGM for QPR Holdings took place on the 14th April [2008] at Loftus Road. Neil Dejyothin and Geoff Gibbs attended representing the Supporters Trust.
Neil made notes of the meeting, these can be viewed by clicking on the document link below
QPR Holdings 2008 AGM report
www.qpr1st.com/docs/qpragm2008.pdf
The nine (ordinary) resolutions were as follows:
1. To receive and approve the Company's accounts and reports of the directors and the
auditors for the year ending May 31st 2007.
2. To re-elect Flavio Briatore as a director.
3. To re-elect Bruno Michel as a director.
4. To re-elect Alejandro Agag as a director.
5. To re-elect Gavin Taylor as a director.
6. To re-elect Amit Bhatia as a director.
7. To re-elect Marco Rapini as a director.
8. To re-elect Gianni Paladini as a director.
9. To re-appoint Shipleys LLP as auditors.
All nine resolutions were passed.
The one (special) resolution was as follows:
1. To substitute the existing Articles of Association for the new Articles of
Association.
The resolution was passed.
In general
Alejandro Agag said -
- when they arrived at the club it was in a very difficult situation.
- the economic side was in 'critical' state.
- the existing staff at that time 'did a good job' helping save the club, particularly Gianni Paladini.
- when they arrived the team was struggling in the relegation zone.
- the combination of the business and playing side meant the Club was in a state of emergency.
- the objective was to stay in the Championship.
- that relegation to League One would have been a big set-back for the project.
- that January was the first real opportunity to acquire new players and 10 were brought in.
- the same strategy used in January will be used going forward and in the summer
where reinforcements are expected.
- they were pleased that information about targets were not leaked.
- they felt the deals they made were done in secrecy and that's the way they like to work.
- they feel the asking price for those player's would have risen had information been
leaked and competitors got involved.
- they feel that all new signings should be announced on the Club website first.- they liked announcing new arrivals over a period of day's and will continue with this
approach.
- they feel a staggered approach to such announcements keeps QPR in the public eye and raises the awareness about the Club.
- they are happy overall with the current position we're in and the progress being made.
- they feel that bar a miracle, the Club is safe and has secured its Championship status.
- they are already thinking about next season.
- they are not promising anything in terms of what to expect next season and we should be mindful there is a 4-year plan.- there is no extra pressure to get promoted next season, however they're very confident that it's possible.
- they are working on lots of things behind the scenes, some that can and some that cannot be announced until the time is right.
- they are feeling that the QPR support is behind them and the fans are in the same boat.
- they realise the importance of the fans and that the support shown is crucial.
- they are very satisfied with how things are going.
- the Club will remain public and not be made private.
- the Share Capital is increasing because they are putting money in (which is diluting the minority shareholders shares).
- they see these events with smaller shareholders as 'symbollic' and have made a permanent decision to remain public so long as they are at the helm.
- the share breakdown is roughly: Sarita Capital (57%), Amit Bhatia (20%), Bernie Ecclestone (15%), Flavio Briatore (5%) and 3,000 minority shareholders (3%).
- there are 11 million shares valued at 1p, totalling to 1.1 billion shares in issue.
Other issues
Season Tickets
Alejandro Agag said -
- there hasn't been a final decision on season tickets.
- increases will be reasonable and not over the top.
Ali Russell said -
- that he has put a plan to the board.
- he is awaiting feedback on these proposals.
- there are a variety of schemes they're looking at.
- there will be an increase in some areas and "some big, some small".
- they expect to finalise these plans within 2 weeks.
- they appreciate that it's difficult to pay for a season ticket in "one hit".
- direct debit schemes are under consideration including one being direct debit based
and another through Zebra Finance.
- they are considering a wide variety of packages and this also includes multi-game deals and half-season tickets.
- children's pricing and family day's are very much in the Club's thoughts.
Stadium Redevelopment[/b
]Alejandro Agag said -
- they agree that leg space at Loftus Road is an issue for everybody.
- there is no easy solution to increase space due to the structure of the stadium.
- increasing this space is a big development. By their calculations it would cost at least £6m.
- this will not change for next season and they feel buying new players is more important at this time.
- that the stadium was a difficult situation at this time.
- they are not open to anything and are not excluding any of their options.
- they are in talks with the Council over the BBC site.
- potentially we could have a stadium next door with excellent facilities.
- next season they will look to at maximising revenues.
- as a result they will change around 300 seats for next season as reasonable redevelopment costs.
- they will try to sell these luxurious seats (behind the Directors Box) and generate
lots of revenue from them.
- they believe between the Board they can attract enough high profile people to be able to do this.
- season ticket holders who sit in this area will be offered the opportunity to stay there
first, but unfortunately face a big increase in price.
- they will try to accommodate fans who have to move by relocating them to the next
best seat as near as possible to the original.
- the Club will meet with and work with concerned supporters in this area to find a
solution that is adequate and that everybody is happy with.
- they appreciate it's a difficult situation and unfortunate. They understand that some fans may not feel this is fair.
- all stadium improvements have been prioritised in order of what they feel is most important.
Ali Russell said -
- that because Loftus Road was an old stadium, the club needs to take a 'measured
approach' with improvements.
- that the Club needs to concentrate its efforts on getting to the Premier League and
then get the facilities right.
- all areas of the stadium have been looked at and work has been prioritised.
- some improvements will be made in the summer and some afterwards or in the following seasons.
Luigi De Canio
Alejandro Agag said -
- that Luigi couldn't speak a word of English when he first arrived.
- that Luigi is now able to speak some English and can communicate with the player's
in training.
- that Luigi doesn't want to give press conferences at this time because he isn't confident that he won't be misinterpreted.
- that he thinks Luigi's family does not want to move from Italy.
- that Luigi has only been back to Italy once since he arrived and they believe he is happy here.
- that from the their perspective, so long as results are good, the Board are happy.
Gianni Paladini said -
- that Luigi doesn't have one member of his family in Italy, which is his daughter.
- that stories suggesting he is home-sick are false.
Youth Department
Gianni Paladini said -
- that they plan to cover one of the pitches at the training ground, which is a requirement to compete at the elite Youth level.
- they will try to have this cover ready for next season.
- the cover would allow the Youth team to compete against the likes of Manchester United, etc.
- they plan to have more staff and coaches.- that Angelo Balanta and Roman Rose are close to being ready for the senior squad and they want to build on this.
Kit Sponsorship
Alejandro Agag said -
- the agreement with Car Giant was ended friendly.
- the termination of the Car Giant deal means they will not be the kit sponsors next season.
- they are currently looking at 3-4 possibilities for new sponsors, although it may not
end up being any of these.
- from their experience in F1, they will not sell cheaply or devalue an asset which they
want feel is an important and strong brand.
- if their expectations for sponsorship money is not met, they believe it's better to not have a sponsor on the shirt at all.
Disabled Facilities
Ali Russell said -
- the club have met with various supporter groups and disabled fans and recognise the
facilities are not ideal.
- they have priortised improvements and will tackle these in order of priority.
- they expect improvements will be carried out either for next season or the start of the one after.
Pre-Season Tour
Gianni Paladini said -
- a tour could potentially be held in Italy or Spain this summer.
- nothing will be announced or done until contracts are signed with clubs.
Transfers
Alejandro Agag said -
- that there will be "definite reinforcements" in the summer.
- that Gianni Paladini was working on a number of exciting deals.
- that they couldn't speculate at this time on how many players will be joining.
Revenue Streams
Ali Russell said -
- lots of assets at the Club have not been maximised.
- they have seen an upturn in revenues since January.
- the targets for next season across the board are going to be a lot more aggressive.
ABC Loan
Alejandro Agag said -
- that the ABC loan has not yet been paid.
- that talks are continuing with a number of parties to refinance the loan before the July 31st deadline.
- the Club are still looking for the best situation and solution.
- that the difficulty with banks is they will not give a loan to any football club.
- that the Board will pay out of their own pocket if nothing suitable is found.
- that the Club will not lose ownership of it's ground.
Catering
Ali Russell said -
- they want the matchday experience to be first class.
- they are however obliged contractually to continue with the current caterers.
- they are working with the current caterers to try and improve the quality of the
service.
- they have been looking at other clubs and researching on ways they can improve thematchday experience.
- they feel the Emirates stadium is a good benchmark.
- that Gavin Taylor recently went to the Allianz-Arena in Germany to see their operations.
www.qpr1st.com/docs/qpragm2008.pdf
QPR Holdings 2008 AGM - Wednesday, 16 April 2008 00:00
"The AGM for QPR Holdings took place on the 14th April [2008] at Loftus Road. Neil Dejyothin and Geoff Gibbs attended representing the Supporters Trust.
Neil made notes of the meeting, these can be viewed by clicking on the document link below
QPR Holdings 2008 AGM report
www.qpr1st.com/docs/qpragm2008.pdf
The nine (ordinary) resolutions were as follows:
1. To receive and approve the Company's accounts and reports of the directors and the
auditors for the year ending May 31st 2007.
2. To re-elect Flavio Briatore as a director.
3. To re-elect Bruno Michel as a director.
4. To re-elect Alejandro Agag as a director.
5. To re-elect Gavin Taylor as a director.
6. To re-elect Amit Bhatia as a director.
7. To re-elect Marco Rapini as a director.
8. To re-elect Gianni Paladini as a director.
9. To re-appoint Shipleys LLP as auditors.
All nine resolutions were passed.
The one (special) resolution was as follows:
1. To substitute the existing Articles of Association for the new Articles of
Association.
The resolution was passed.
In general
Alejandro Agag said -
- when they arrived at the club it was in a very difficult situation.
- the economic side was in 'critical' state.
- the existing staff at that time 'did a good job' helping save the club, particularly Gianni Paladini.
- when they arrived the team was struggling in the relegation zone.
- the combination of the business and playing side meant the Club was in a state of emergency.
- the objective was to stay in the Championship.
- that relegation to League One would have been a big set-back for the project.
- that January was the first real opportunity to acquire new players and 10 were brought in.
- the same strategy used in January will be used going forward and in the summer
where reinforcements are expected.
- they were pleased that information about targets were not leaked.
- they felt the deals they made were done in secrecy and that's the way they like to work.
- they feel the asking price for those player's would have risen had information been
leaked and competitors got involved.
- they feel that all new signings should be announced on the Club website first.- they liked announcing new arrivals over a period of day's and will continue with this
approach.
- they feel a staggered approach to such announcements keeps QPR in the public eye and raises the awareness about the Club.
- they are happy overall with the current position we're in and the progress being made.
- they feel that bar a miracle, the Club is safe and has secured its Championship status.
- they are already thinking about next season.
- they are not promising anything in terms of what to expect next season and we should be mindful there is a 4-year plan.- there is no extra pressure to get promoted next season, however they're very confident that it's possible.
- they are working on lots of things behind the scenes, some that can and some that cannot be announced until the time is right.
- they are feeling that the QPR support is behind them and the fans are in the same boat.
- they realise the importance of the fans and that the support shown is crucial.
- they are very satisfied with how things are going.
- the Club will remain public and not be made private.
- the Share Capital is increasing because they are putting money in (which is diluting the minority shareholders shares).
- they see these events with smaller shareholders as 'symbollic' and have made a permanent decision to remain public so long as they are at the helm.
- the share breakdown is roughly: Sarita Capital (57%), Amit Bhatia (20%), Bernie Ecclestone (15%), Flavio Briatore (5%) and 3,000 minority shareholders (3%).
- there are 11 million shares valued at 1p, totalling to 1.1 billion shares in issue.
Other issues
Season Tickets
Alejandro Agag said -
- there hasn't been a final decision on season tickets.
- increases will be reasonable and not over the top.
Ali Russell said -
- that he has put a plan to the board.
- he is awaiting feedback on these proposals.
- there are a variety of schemes they're looking at.
- there will be an increase in some areas and "some big, some small".
- they expect to finalise these plans within 2 weeks.
- they appreciate that it's difficult to pay for a season ticket in "one hit".
- direct debit schemes are under consideration including one being direct debit based
and another through Zebra Finance.
- they are considering a wide variety of packages and this also includes multi-game deals and half-season tickets.
- children's pricing and family day's are very much in the Club's thoughts.
Stadium Redevelopment[/b
]Alejandro Agag said -
- they agree that leg space at Loftus Road is an issue for everybody.
- there is no easy solution to increase space due to the structure of the stadium.
- increasing this space is a big development. By their calculations it would cost at least £6m.
- this will not change for next season and they feel buying new players is more important at this time.
- that the stadium was a difficult situation at this time.
- they are not open to anything and are not excluding any of their options.
- they are in talks with the Council over the BBC site.
- potentially we could have a stadium next door with excellent facilities.
- next season they will look to at maximising revenues.
- as a result they will change around 300 seats for next season as reasonable redevelopment costs.
- they will try to sell these luxurious seats (behind the Directors Box) and generate
lots of revenue from them.
- they believe between the Board they can attract enough high profile people to be able to do this.
- season ticket holders who sit in this area will be offered the opportunity to stay there
first, but unfortunately face a big increase in price.
- they will try to accommodate fans who have to move by relocating them to the next
best seat as near as possible to the original.
- the Club will meet with and work with concerned supporters in this area to find a
solution that is adequate and that everybody is happy with.
- they appreciate it's a difficult situation and unfortunate. They understand that some fans may not feel this is fair.
- all stadium improvements have been prioritised in order of what they feel is most important.
Ali Russell said -
- that because Loftus Road was an old stadium, the club needs to take a 'measured
approach' with improvements.
- that the Club needs to concentrate its efforts on getting to the Premier League and
then get the facilities right.
- all areas of the stadium have been looked at and work has been prioritised.
- some improvements will be made in the summer and some afterwards or in the following seasons.
Luigi De Canio
Alejandro Agag said -
- that Luigi couldn't speak a word of English when he first arrived.
- that Luigi is now able to speak some English and can communicate with the player's
in training.
- that Luigi doesn't want to give press conferences at this time because he isn't confident that he won't be misinterpreted.
- that he thinks Luigi's family does not want to move from Italy.
- that Luigi has only been back to Italy once since he arrived and they believe he is happy here.
- that from the their perspective, so long as results are good, the Board are happy.
Gianni Paladini said -
- that Luigi doesn't have one member of his family in Italy, which is his daughter.
- that stories suggesting he is home-sick are false.
Youth Department
Gianni Paladini said -
- that they plan to cover one of the pitches at the training ground, which is a requirement to compete at the elite Youth level.
- they will try to have this cover ready for next season.
- the cover would allow the Youth team to compete against the likes of Manchester United, etc.
- they plan to have more staff and coaches.- that Angelo Balanta and Roman Rose are close to being ready for the senior squad and they want to build on this.
Kit Sponsorship
Alejandro Agag said -
- the agreement with Car Giant was ended friendly.
- the termination of the Car Giant deal means they will not be the kit sponsors next season.
- they are currently looking at 3-4 possibilities for new sponsors, although it may not
end up being any of these.
- from their experience in F1, they will not sell cheaply or devalue an asset which they
want feel is an important and strong brand.
- if their expectations for sponsorship money is not met, they believe it's better to not have a sponsor on the shirt at all.
Disabled Facilities
Ali Russell said -
- the club have met with various supporter groups and disabled fans and recognise the
facilities are not ideal.
- they have priortised improvements and will tackle these in order of priority.
- they expect improvements will be carried out either for next season or the start of the one after.
Pre-Season Tour
Gianni Paladini said -
- a tour could potentially be held in Italy or Spain this summer.
- nothing will be announced or done until contracts are signed with clubs.
Transfers
Alejandro Agag said -
- that there will be "definite reinforcements" in the summer.
- that Gianni Paladini was working on a number of exciting deals.
- that they couldn't speculate at this time on how many players will be joining.
Revenue Streams
Ali Russell said -
- lots of assets at the Club have not been maximised.
- they have seen an upturn in revenues since January.
- the targets for next season across the board are going to be a lot more aggressive.
ABC Loan
Alejandro Agag said -
- that the ABC loan has not yet been paid.
- that talks are continuing with a number of parties to refinance the loan before the July 31st deadline.
- the Club are still looking for the best situation and solution.
- that the difficulty with banks is they will not give a loan to any football club.
- that the Board will pay out of their own pocket if nothing suitable is found.
- that the Club will not lose ownership of it's ground.
Catering
Ali Russell said -
- they want the matchday experience to be first class.
- they are however obliged contractually to continue with the current caterers.
- they are working with the current caterers to try and improve the quality of the
service.
- they have been looking at other clubs and researching on ways they can improve thematchday experience.
- they feel the Emirates stadium is a good benchmark.
- that Gavin Taylor recently went to the Allianz-Arena in Germany to see their operations.
www.qpr1st.com/docs/qpragm2008.pdf
