2 Yr Flashback - New 27 Million Pound Loan made

[Macmoish]

2 Year Flashback/Bump a Year -

As posted a year ago

Not sure if this is new info, or something I missed, or a misunderstanding.

In Norwegian and English

www.fotballsonen.com/qpr-med-nytt-banklan/

QPR med nytt banklån NYTT LÅN: Queens Park Rangers har lånt £27 millioner fra Barclays (Foto: Steve Bardens/BPI)

NYTT LÅN: Queens Park Rangers har lånt £27 millioner fra Barclays (Foto: Steve Bardens/BPI)
Mats Rydland Tips meg @matsry Publisert 27.03.2014 16:46


An English version of the article below:

Queens Park Rangers secured a £27 million loan from Barclays earlier this month.

A filing at Companies House says the loan is secured against the club’s parachute payments from the Premier League. In addition, the loan is secured against any potential Premier League TV revenue if QPR were to play in the top flight in the 2014/15 season or the 2015/16 season.

The charge was created on March 13th and is the second bank loan QPR have undertaken during the current ownership. In March 2013 QPR loaned £15 million from Barclays.

QPR’s losses have increased in recent years, and the accounts for the 2012/13 season show a loss of £65.4 million and a total debt of £180.7 million. £165.7 million was owed to the club’s shareholders.

In a statement on the club’s website after the £65.4 million loss, QPR’s chairman, Tony Fernandes, said:

«Relegation wasn’t part of the plan and it has cost us financially and emotionally, but I and my fellow Shareholders are fighters. We are committed and here for the long term.

With regards to the debt it is important to understand that this is through shareholder loans. The debt in the club is owed TO the Shareholders BY the Shareholders».

We are all fully committed to QPR in the short, medium and long term and are 100 per-cent focused on delivering our vision for the club. Promotion back to the Premier League is a major challenge, but one we are committed to».

On Twitter, Fernandes on March 13th said the only debt the club had was stadium related.

The club declined to give a comment.




[The Norwegian Version which came first, I'm putting at bottom
Queens Park Rangers sikret seg tidligere denne måneden et lån på £27 millioner fra Barclays.

En innlevering til Companies House viser at lånet er sikret mot fallskjermutbetalingene QPR mottar fra Premier League etter nedrykket forrige sesong. I tillegg er lånet sikret mot potensielle TV-inntekter fra Premier League hvis QPR spiller i toppdivisjonen i løpet av 2014/15-sesongen eller 2015/16-sesongen.

Dette er det andre banklånet QPR har tatt under det nåværende eierskapet etter at klubben tok opp et lån på £15 millioner fra Barclays i mars 2013.

De siste årene har QPRs underskudd økt, og det siste regnskapet som dekker 2012/13-sesongen, viste et underskudd på £65,4 millioner og en gjeld på £180,7 millioner. £165,7 millioner av dette er gjeld til klubbens eiere.

I en uttalelse på klubbens nettside etter underskuddet på £65,4 millioner, uttalte QPRs styreformann, Tony Fernandes:

- Nedrykk var aldri en del av planen og det har kostet, både økonomisk og emosjonelt, men jeg og de andre eierne er krigere. Med tanke på gjelden, er det viktig å forstå at gjelden er gjennom aksjonærlån. Gjelden klubben skylder er til aksjeeierne fra aksjeeierne.

- Vi er alle fullt forpliktet til QPR på kort, mellomlang og lang sikt, og er 100 prosent fokusert på å levere vår visjon for klubben. Opprykk til Premier Leauge er en stor utfordring, men en utfordring vi er forpliktet til.

På Twitter skrev Fernandes nylig at den eneste gjelden klubben hadde, var relatert til stadion.

QPR ville ikke gi en kommentar til Fotballsonen angående lånet.

Fotballsonen skrev nylig om QPRs økonomiske situasjon og utvikling utenfor banen.

[Macmoish]

[Macmoish]

Mats Rydland ‏@matsry

qprreport I’ve uploaded the #QPR filing to Scribd now:

www.scribd.com/doc/214872658/QPR-loan-charge

[Macmoish]

The QPR RESPONSE

IanJTaylor ‏@ijtaylor81 1m


Re the new loan story, the next few tweets are attributed to a club spokesperson ... (1/5) #QPR

'As an extension of our relationship with Barclays & following an initial loan last year, which has now been repaid in full ... (2/5) #QPR

'... the club has agreed a second loan. As with the previous loan, this demonstrates the clear backing banks want to give our ... (3/5) #QPR

'... shareholders and the future long-term plans for the club. The loan is personally guaranteed ... (4/5) #QPR


'... in full by the club's shareholders, who remain wholly committed to the club's short, medium & long-term objectives' (5/5) #QPR

[terryb]

If it has personal guarentees it shouldn't (in theory) be a problem.

However, why hadn't the club publicised this loan?

[Macmoish]

GUARDIAN
James Riach
The Guardian, Friday 28 March 2014 15.06 EDT

Queens Park Rangers take out £27m loan from Barclays Bank

• Loan secured against club's assets and parachute payments
• Recent financial results cause alarm bells to ring


Queens Park Rangers have agreed a £27m loan with Barclays, secured against the club's assets and Premier League parachute payments including potential TV revenue over the next two seasons if they return to the top flight.

It is the second time the Championship club have agreed a loan with the bank in the past year and comes at a time when their financial security has come under intense scrutiny. In March 2013 QPR borrowed £15m from Barclays and their recent financial results, for the year to May 2013, revealed a loss of more than £65m.

The QPR chairman, the Malaysian airline entrepreneur Tony Fernandes, agreed the £27m loan on 13 March. The club say the deal strengthens their relationship with the bank ahead of plans to build a new stadium and training ground. It was agreed in accordance with Fernandes's Malaysian business partners and QPR's remaining shareholders – the family of the Indian steel magnate Lakshmi Mittal.

The club says that the £15m borrowed last year has been paid back, however, given that Rangers reported debts of £177m this month, supporters may be concerned that outgoings remain significant.

A QPR spokesman said: "As an extension of our relationship with Barclays and following an initial loan last year, which has now been repaid in full, the club has agreed a second loan. As with the previous loan, this demonstrates the clear backing banks want to give our shareholders and the future long-term 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."

Fernandes has previously stated that all QPR's debts are stadium-related, yet the publication of the club's most recent financial results caused serious alarm. They revealed that Rangers paid more on wages during the last financial year than the Champions League finalists Borussia Dortmund and that the club are in severe danger of a significant fine under Football League Financial Fair Play regulations.

The new £27m loan is secured against assets including Loftus Road and parachute payments that the club are due to receive following their relegation from the Premier League last season. Rangers have received £23m this year, will be paid £18m next season and then £9m in each of the following two seasons.

In December QPR unveiled ambitious plans for a new 40,000-seater stadium, as part of a major regeneration project in the Old Oak area of west London. The club also recently secured permission to build a new £30m training complex on Warren Farm in Hanwell, expected to be completed in 2016.

Harry Redknapp's side are currently third in the Championship, 10 points off second-placed Burnley, with eight matches remaining.

www.theguardian.com/football/2014/mar/28/queens-park-rangers-27m-loan-barclays-bank

[Macmoish]

[Deleted]

Im beyond argueing the toss.

What will be will be.

Foreverqpr

[Roller]

Mar 28, 2014 21:26:35 GMT @mountpleasantrangers said:

I'm beyond arguing the toss.

What will be will be.

Foreverqpr

What is another £27m Maude, other than pretty insignificant compared with £177m?

[Deleted]

So the debt is the shareholders not the clubs, but this loan is secured on clubs future finances not shareholder input of finances? i'm lost, i think i will give in to, just think of the football i must tell myself.

[ingham]

These people are deranged.

1. ALL the debt is 'stadium-related'.

2. The debt is secured against parachute payments AND the stadium, so it ISN'T all stadium related.

3. The debt related to the stadium has been paid off, so it isn't EVEN stadium related (and can't be secured against parachute payments).

4. So there isn't any debt. But there is, and the accounts show that there is. And the announcement shows that there is even more.

5. It isn't secured against Loftus Road, because the debt shown in the accounts is too big, and the Loftus Road debt is paid off.

6. And it can't be secured against the new Ground because the new Ground doesn't exist, and can't be given as security for anything.

7. And it doesn't need to be because there is no debt (Bhatia), and there is (Fernandes) but it is owed by 'shareholders to shareholders', so it doesn't make sense.

8. But it is GUARANTEED by shareholders.

9. Though it doesn't need to be, because it is 'stadium-related' AND secured against the Ground AND the Parachute payments.

They told us the LR debt was paid off before and it wasn't, that the Club is debt-free and it isn't, and the debt that is in the accounts doesn't exist, but it is secured against a stadium that doesn't exist which is why it doesn't exist because although THAT Ground exists, IT'S debt has been paid off, so there is no debt except over the NEW Ground.

Which doesn't exist.

That, as near as I can work it out, is what the article means.

[Macmoish]

All I can say is if the owners can lose 100 million, 150 million poundsin 3 years and keep going, happily/"Stay Committed" - suggests how much money they think they can
make from the new Stadium project

[peterg]

Old builders scam
Find a merchant buy some stuff. Pay cash
Open a credit account settle order invoicees promptly
Increase credit limit. Repeat
Increase credit limit again to maximum allowable. Place order to credit limit
Receive goods
Leggit

[Macmoish]

Might also add that while QPR are Losing tens of millions of pounds a year -there are some "non-QPR Accounts" benefits going to Fernandes et al - the advertsising/promotional for Air Asia, etc.

(espec if in Prem!) As he himself noted. So rather than one hand feeding the other and tens of millions coming into QPR directly, Air Asia and Tunes from QPR which may not show straight in the QPR Accounts.


To Quote "Tony"


"F1 and the English league are phenomenally successful sports watched around the world. That’s a huge captive market. Having AirAsia and Tune Hotels beamed straight into people’s homes is more powerful than putting out a print ad.”

“Sport helps to put the Tune out there. Branding impacts the bottom line, even if you can’t measure it. The aura of our brand has attracted a lot of partnerships and sports is a large part of that aura.”

- QPR Chairman, Tony Fernandes on owning QPR and Caterham



Also some intangibles from using QPR to outreach in Malaysia and Singapore and India - The Youth/QPR TRust, etc

[ingham]

[ingham]

Hahaha, nice one, peter

Called 'the Long Firm', I believe. Beloved of con men the world over.

But it is suggestive.

I am trying to work out - as has been suggested by supporters (not unintelligently), and by Fernandes (not intelligibly) - how the £177 million (which has vanished) can be secured against the new Ground (which doesn't exist).

If the Ground costs £200 million, as Beard is supposed to have said, the £200 million equity in the Ground has already been spent (assuming there will be a loss of at least £23 million this season on wages alone), so there is no money to build the Ground.

Beginning to sound like the Olympic racket.

Get them in deep, then tell them that they'll lose everything if they don't stump up more.

Tell the government and the mayor that the taxpayer must pay for the whole project. Otherwise they won't get the Old Oak development. Get the taxpayer in deep, then tell them that, after all, the Stadium will be a liability without a Football Club, like the Olympic Stadium, so they must have QPR, and to get QPR, they must pay off Fernandes and Mittal's debts.

Then tell QPR supporters that they must give up their own Ground, because it isn't big enough. Tell them that the Club is too indebted, so QPR can't own it. That the Club won't earn any money from it. Because it doesn't own it. But the Club must pay for it.

Because nobody else wants to, or cares.

[Macmoish]

At least made some money in F1

Express

Caterham profits treble despite lacking winning formula

www.express.co.uk/finance/city/467692/Caterham-profits-treble-despite-lacking-winning-formula



Caterham profits treble despite lacking winning formula
FORMULA One team Caterham has seen its pre-tax profits treble to £4.8 million and revenue more than double to £46.7 million in 2012, new accounts show.
By: Christian Sylt, Caroline Reid
Published: Sun, March 30, 2014



Caterham, Formula One, F1, tax, profits, revenue, GE, industry, Export-Import Bank of MalaysiaTony Fernandes, who also is a major shareholder in Queens Park Rangers part-owns Caterham[GETTY]

This is thanks in part to a major sponsorship deal with American industrial giant GE, which pays the firm an estimated $15 million (£9 million) annually.

Caterham’s turnover is mainly derived from the management fees it receives from its Malaysian parent company, which in turn gets its income from sponsors such as GE.

The accounts also show that Caterham took out a £5.3 million loan from Export-Import Bank of Malaysia, part of which was used to invest in a new plant and machinery.

As Caterham has yet to win a race or score a point, Fernandes and his partners have the dubious distinction of investing more money in an F1 team without success than anyone else in the history of the sport

The team is based in Prime Minister David Cameron’s constituency of Witney and is part-owned by Malaysian Tony Fernandes who celebrates his home race at today’s Malaysian Grand Prix.

Since Caterham joined the sport in 2010, Fernandes and his co-owners have put an estimated $219.5 million (£132 million) into the team.

However, as Caterham has yet to win a race or score a point, Fernandes and his partners have the dubious distinction of investing more money in an F1 team without success than anyone else in the history of the sport.

Fernandes is also a major shareholder in Championship football club Queens Park Rangers.

[Deleted]

He likes to borrow a few quid does our tony.

[Deleted]

here is a piece written a couple of years ago about the potential of old oak.

lookwestlondon.com/

For some reason the link does not take you straight to the piece i was on about. if you can be arsed type old oak needs government to bust silos, in the search box on the link page to read the piece, sorry for the arsing about

[Macmoish]

Bump a Year

Mar 28, 2014 20:43:04 GMT Macmoish said:

GUARDIAN
James Riach
The Guardian, Friday 28 March 2014 15.06 EDT

Queens Park Rangers take out £27m loan from Barclays Bank

• Loan secured against club's assets and parachute payments
• Recent financial results cause alarm bells to ring


Queens Park Rangers have agreed a £27m loan with Barclays, secured against the club's assets and Premier League parachute payments including potential TV revenue over the next two seasons if they return to the top flight.

It is the second time the Championship club have agreed a loan with the bank in the past year and comes at a time when their financial security has come under intense scrutiny. In March 2013 QPR borrowed £15m from Barclays and their recent financial results, for the year to May 2013, revealed a loss of more than £65m.

The QPR chairman, the Malaysian airline entrepreneur Tony Fernandes, agreed the £27m loan on 13 March. The club say the deal strengthens their relationship with the bank ahead of plans to build a new stadium and training ground. It was agreed in accordance with Fernandes's Malaysian business partners and QPR's remaining shareholders – the family of the Indian steel magnate Lakshmi Mittal.

The club says that the £15m borrowed last year has been paid back, however, given that Rangers reported debts of £177m this month, supporters may be concerned that outgoings remain significant.

A QPR spokesman said: "As an extension of our relationship with Barclays and following an initial loan last year, which has now been repaid in full, the club has agreed a second loan. As with the previous loan, this demonstrates the clear backing banks want to give our shareholders and the future long-term 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."

Fernandes has previously stated that all QPR's debts are stadium-related, yet the publication of the club's most recent financial results caused serious alarm. They revealed that Rangers paid more on wages during the last financial year than the Champions League finalists Borussia Dortmund and that the club are in severe danger of a significant fine under Football League Financial Fair Play regulations.

The new £27m loan is secured against assets including Loftus Road and parachute payments that the club are due to receive following their relegation from the Premier League last season. Rangers have received £23m this year, will be paid £18m next season and then £9m in each of the following two seasons.

In December QPR unveiled ambitious plans for a new 40,000-seater stadium, as part of a major regeneration project in the Old Oak area of west London. The club also recently secured permission to build a new £30m training complex on Warren Farm in Hanwell, expected to be completed in 2016.

Harry Redknapp's side are currently third in the Championship, 10 points off second-placed Burnley, with eight matches remaining.

www.theguardian.com/football/2014/mar/28/queens-park-rangers-27m-loan-barclays-bank

Mar 27, 2014 16:38:44 GMT Macmoish said:

The QPR RESPONSE

IanJTaylor ‏@ijtaylor81 1m


Re the new loan story, the next few tweets are attributed to a club spokesperson ... (1/5) #QPR

'As an extension of our relationship with Barclays & following an initial loan last year, which has now been repaid in full ... (2/5) #QPR

'... the club has agreed a second loan. As with the previous loan, this demonstrates the clear backing banks want to give our ... (3/5) #QPR

'... shareholders and the future long-term plans for the club. The loan is personally guaranteed ... (4/5) #QPR


'... in full by the club's shareholders, who remain wholly committed to the club's short, medium & long-term objectives' (5/5) #QPR

[Macmoish]

2 Year Flashback