| Losses Reduced on 12:47 - Mar 2 with 2734 views | Rangersw12 |
| Losses Reduced on 12:34 - Mar 2 by BazzaInTheLoft |
I want a financially stable club that runs on it's own steam. If that means football league status then so be it.
Of course I don't want a massive fine for the club. But I want 'football' businessmen taught a lesson, including our own dear leader and fellow shareholders.
The 'they did it first' argument is childish. Murder / rape / FGM (a LFW favourite) have also been done before. Why can't we do that too? |
Surely he is being taught a lesson as he has written off 60 million and won't be able to get that back ?
Hopefully this is the start of us being run properly with the debt being reduced and we actually spend within in our means regardless of the league we're in |  | |  |
| Losses Reduced on 12:47 - Mar 2 with 2730 views | Jamie |
| Losses Reduced on 11:57 - Mar 2 by daveB |
or we stay in the prem for 2 years, get the new stadium and that debt is cut in half at the very least |
I can't work out if you are genuinely trying to suggest Old Oak will be done within 2 years. | | | |
| Losses Reduced on 12:52 - Mar 2 with 2707 views | Juzzie |
Regardless of the rules, FFP, how it's all accounted etc., all I can say is they've written off a big chunk of the debt they themselves caused. No one else.
Fair play to them and not try and get everyone else to pay for their mistakes like the banks did. |  | | |
| Losses Reduced on 12:55 - Mar 2 with 2688 views | Match82 |
Read the first post, expected this to be 4 pages of delight. But it appears that we are focused on finding the negatives in this, somehow?
Perhaps I'm misunderstanding, but isn't this what we have been asking for the shareholders to do for years? |  | | |
| Losses Reduced on 12:56 - Mar 2 with 2683 views | mikeygunn |
I cant see how this is anything but good news. I think the penny dropped for the board in the summer and we can hopefully start to become the club we once knew again. |  | | |
| Losses Reduced on 12:57 - Mar 2 with 2672 views | daveB |
| Losses Reduced on 12:47 - Mar 2 by Jamie |
I can't work out if you are genuinely trying to suggest Old Oak will be done within 2 years. |
course not, meant get the green light for the stadium rather than build it, that is years away |  | | |
| Losses Reduced on 12:58 - Mar 2 with 2667 views | BazzaInTheLoft |
| Losses Reduced on 12:47 - Mar 2 by Rangersw12 |
Surely he is being taught a lesson as he has written off 60 million and won't be able to get that back ?
Hopefully this is the start of us being run properly with the debt being reduced and we actually spend within in our means regardless of the league we're in |
One way or another they'll get it back.
At worst it will be the land Loftus Rd sits on I expect. At best it will be over many, many years of financial prudence. |  | | |
| Losses Reduced on 13:00 - Mar 2 with 2655 views | danehoop |
Are you married to SOG? |  |
| Never knowingly understood |
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| Losses Reduced on 13:01 - Mar 2 with 2654 views | BrianMcCarthy |
| Losses Reduced on 12:31 - Mar 2 by connell10 |
so is this good news or bad news?? im confused! |
We don't know yet. Either:-
a) Our losses went from £177 to £246.8m before a write-off of £60m brought them back to £186.8m and a loss for the year of £9.8m, or
b) We made a loss for the year of £9.8m, and our historic losses were reduced from £177m to £117m, or
c) Something entirely different
We'll have to wait and see, I suppose. |  |
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| Losses Reduced on 13:08 - Mar 2 with 2619 views | kensalriser |
I look forward to this thread in due course exceeding the Friday Frankie one as the earnest discussion, uninformed wild speculation, stabs in the dark and amateur accountancy unfolds.
Great advert for why you should always employ an accountant to do your annual tax return! |  |
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| Losses Reduced on 13:10 - Mar 2 with 2609 views | derbyhoop |
Just goes to show how important it is to preserve premiership status. 20% of a £9.6m loss is not sustainable in the Championship for very long.
And there's more good news to come. Since May 2014 we got Julio Cesar, Remy, Luke Young, Andy Johnson, Yossi, Mbia and Granero off the wage bill. Even if 4 of those spent the 2013/14 season out on loan. I believe that Green, Zamora and Traore had their wages cut. The net outflow on transfers since last May would be around £15m. But income from Sky will be up from £16m parachute payments + £2-4 for TV coverage in the Championship to more like £65m.
If we're not careless we could make a small profit in 2014/15.
And then we have Barton and SWP coming to the end of their lucrative deals. Player wages should show a significant fall in the next set of accounts. |  |
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Find me on twitter @derbyhoop |
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| Losses Reduced on 13:10 - Mar 2 with 2609 views | ElHoop |
Is it good news or bad news? Mainly bad I would say. The loans were never going to be recoverable unless they could sell the club to someone else for what they've spent so far, so writing off a part is just accepting the inevitable. The good news is that costs are falling and with most big contracts expiring this year they will continue to fall. The best news would be staying up - lower costs, higher Sky revenues and a more promising strategy would combine to hopefully stopping these horrible losses. |  | | |
| Losses Reduced on 13:22 - Mar 2 with 2544 views | Hunterhoop |
| Losses Reduced on 13:01 - Mar 2 by BrianMcCarthy |
We don't know yet. Either:-
a) Our losses went from £177 to £246.8m before a write-off of £60m brought them back to £186.8m and a loss for the year of £9.8m, or
b) We made a loss for the year of £9.8m, and our historic losses were reduced from £177m to £117m, or
c) Something entirely different
We'll have to wait and see, I suppose. |
It's clearly a), Brian.
Whether that is "correct" in itself, is another matter. But there is no logical way last season/tax year, we cut our operating losses from £80m odd to just under £10m. How? Our outgoings reduced, but we still had a lot of a big earners still at the club in some capacity last year. And our income certainly didn't increase drastically. Moving to c. £70m losses, before the shareholders wrote off £60m as a gift, is how we get to c. £10m.
Irish must be right, and this £60m right off has effectively been added to the P&L picture. There's simply no other way this makes sense.
Now, the bigger issue, is does the FFP regulations have clauses to prevent this counting in their judgement? If so, then you can add whatever the FFP fine is to the overall debt position, which is c. £187m. If they can't get us on this loophole, then you don't.
We're still in debt by £187m. And, as I think will be shown and as Irish is saying, we still basically operated at a £70m loss last year. I'm guessing this time next year, we'll show this came down massively this tax year, since our cost base probably decreased again and our revenue will have increased significantly. We MIGHT have even broke even for the current year.
But, even then, we're still at £187m in debt today, unless they write off the debt, most of which, we're led to believe is debt to the shareholders themselves. Athough I'm sure it's debt financed by a loan they have as individuals or entities from banks, which they'll have to repay themselves.
Today's news is "quite good", but it's not as good as it's being presented. We marginally improved our operational financial performance (but it was still disastrous) and we've had a load of debt written off, which is excellent, but it's only about 25% of the total debt we have....and that's on the assumption we won't get a further FFP fine. |  | | |
| Losses Reduced on 13:23 - Mar 2 with 2540 views | Nov77 |
| Losses Reduced on 13:10 - Mar 2 by ElHoop |
Is it good news or bad news? Mainly bad I would say. The loans were never going to be recoverable unless they could sell the club to someone else for what they've spent so far, so writing off a part is just accepting the inevitable. The good news is that costs are falling and with most big contracts expiring this year they will continue to fall. The best news would be staying up - lower costs, higher Sky revenues and a more promising strategy would combine to hopefully stopping these horrible losses. |
Getting barton and Swp off the payroll this summer will save us another £6m plus a year. |  |
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| Losses Reduced on 13:25 - Mar 2 with 2530 views | robith |
| Losses Reduced on 12:01 - Mar 2 by BazzaInTheLoft |
Am I the only one super fvcked off with this?
The rules are there to stop financial doping. We bitch and moan about the authorities like the FA, FIFA, UEFA etc being ineffectual but when they actually do something for the benefit of the game clubs pull sh1t like this.
Yeah, yeah, Chelsea and Man C do the same thing on a bigger scale but that's not the point. We only want to see action taken when it's not us. |
FFP isn't for the benefit of the game - it's the elite few turning the already closed shop into a fully fledged castle surrounded by an insurmountable moat with sharks in |  | | |
| Losses Reduced on 13:28 - Mar 2 with 2515 views | BazzaInTheLoft |
I hate pissing on the bonfire and maybe this is good news for the club, but surely you can see that this is a complete farce.
It's like someone breaking your legs, getting them fixed and being happy about it, but then forgetting why they were broken in the first place.
Or maybe not. The club statement is very vague, [Post edited 2 Mar 2015 13:30]
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| Losses Reduced on 13:31 - Mar 2 with 2499 views | toboboly |
| Losses Reduced on 13:28 - Mar 2 by BazzaInTheLoft |
I hate pissing on the bonfire and maybe this is good news for the club, but surely you can see that this is a complete farce.
It's like someone breaking your legs, getting them fixed and being happy about it, but then forgetting why they were broken in the first place.
Or maybe not. The club statement is very vague, [Post edited 2 Mar 2015 13:30]
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I can sort of see what you are saying (although I hope FGM is off the table) but to be honest £60m off the debt is good no matter what the reason. And I'm not even one of the happy clappy brigade! |  |
| Sexy Asian dwarves wanted. |
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| Losses Reduced on 13:33 - Mar 2 with 2488 views | BazzaInTheLoft |
| Losses Reduced on 13:31 - Mar 2 by toboboly |
I can sort of see what you are saying (although I hope FGM is off the table) but to be honest £60m off the debt is good no matter what the reason. And I'm not even one of the happy clappy brigade! |
But is it?
Have you ever known a multi billionaire steel magnate give £60m away for nothing?
I'm a miserable cvnt when it comes to QPR but it just means I enjoy the good times more. | | | |
| Losses Reduced on 13:35 - Mar 2 with 2476 views | toboboly |
| Losses Reduced on 13:33 - Mar 2 by BazzaInTheLoft |
But is it?
Have you ever known a multi billionaire steel magnate give £60m away for nothing?
I'm a miserable cvnt when it comes to QPR but it just means I enjoy the good times more. |
They are clearly doing it in order to avoid something down the line, completely agree. However I am glad they have no matter the reasoning. The club is £60m lighter and that is £60m that we won't have to worry about finding buckets for! | |
| Sexy Asian dwarves wanted. |
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| Losses Reduced on 13:38 - Mar 2 with 2466 views | eastside_r |
Not sure what to make of this.
I am a share holder and can confirm, that it is not me! |  | | |
| Losses Reduced on 13:43 - Mar 2 with 2447 views | QPR_John |
| Losses Reduced on 12:34 - Mar 2 by BazzaInTheLoft |
I want a financially stable club that runs on it's own steam. If that means football league status then so be it.
Of course I don't want a massive fine for the club. But I want 'football' businessmen taught a lesson, including our own dear leader and fellow shareholders.
The 'they did it first' argument is childish. Murder / rape / FGM (a LFW favourite) have also been done before. Why can't we do that too? |
" If that means football league status then so be it. "
Fair enough that is your opinion but what gives the Football League the right to force that upon us | | | |
| Losses Reduced on 13:43 - Mar 2 with 2445 views | themodfather |
the loans were a worry, northern r did state ages back, the loans /debts were mainly to the board...ok, i worried they could sod off and clain the loans back, they haven't, their "under written" has been stood by and thank heaven for that.
the football league can ferk itself and ffp can stick itself where the sun don't shine
go talk to man city, chelsea, liverpool, man utd over spending.... | | | |
| Losses Reduced on 14:17 - Mar 2 with 2341 views | terryb |
I have always stated that I thought the losses for y/e May 2013 included provisions that would reduce our loss for the following year.
Also, that we have managed to include all of the transfer fee for Samba in the current period after the cost of purchasing him was in the prervious year.
Rebecca Capelhorn has come up trumps for the club. Accountant's can be expensive but we pay them to avoid having to pay massive fines! | | | |
| Losses Reduced on 14:22 - Mar 2 with 2324 views | BazzaInTheLoft |
| Losses Reduced on 13:43 - Mar 2 by QPR_John |
" If that means football league status then so be it. "
Fair enough that is your opinion but what gives the Football League the right to force that upon us |
It was voted in by the clubs in the football league at the time (not us though).
The clubs made this not the football league. | | | |
| Losses Reduced on 14:26 - Mar 2 with 2308 views | pomanjou |
Its been a good year on the stock markets worldwide (or most of em) The shareholders have probably made a lot of money. They take this hit now and its set off against others profits on which they would otherwise pay tax and mitigates any FFP fine.
Last year the accounts were filed at companies house on the 5th March so maybe we can find out by the end of the week how they have executed this. |  |
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