| Latest QPR accounts 09:39 - Feb 14 with 14331 views | Northernr |
Not as bad as it has been but not great news.
The accounts are for last season (Holloway) and show a £37m loss of which £20m is the FFP fine.
£17m loss is still a lot, up from £6.4m the year before. It means we'll breach FFP this season if we lose more than £15m, and means we can only lose £20m over this season and next or we're in breach again.
Wages as a percentage of turnover back up to 98% from 64%.
This is all the effect of the declining parachute payment, which is reduced again for this season and disappears altogether next. Shows why we had to let Onuoha and Robinson go and sell Smithies.
Paid £4.8m to buy players (Scowen, Baptiste, Wheeler, Samuel, Smyth), received £0.1m (Gladwin, Doughty, Bowler, El Khayati, Henry, Ngbakoto, Reece Cox, Comley, Borysiuk).
It's tight.
Follow @nrogers959 on Twitter for a proper run down.
This post has been edited by an administrator |  | | |  |
| Latest QPR accounts on 19:31 - Feb 14 with 1868 views | Rangersw12 |
| Latest QPR accounts on 18:45 - Feb 14 by BazzaInTheLoft |
How much did the loans cost in fees and wages? |
I get a horrible feeling the strategy of ignoring Penrice's lower league picks for short term premier league loans is going to back fire massively next season
Also the decision to flog the same players and not use any of the youngsters is also backfiring
Holloway had his faults but he certainly put the club before himself |  | | |
| Latest QPR accounts on 20:01 - Feb 14 with 1825 views | Phildo |
We are in the situation where the club has backers with money but cannot spend because of FFP. I don’t know how long FFP is going to hold though when some big clubs fall foul of it.Football stinks.It is supposed to be a sporting competition- what a laugh that is. |  | | |
| Latest QPR accounts on 20:04 - Feb 14 with 1823 views | Northernr |
| Latest QPR accounts on 18:53 - Feb 14 by Roller |
It was originally going to be £9.6 million, but when the new Sky deal was agreed they went up. For that season, and this one, our parachute payment was/is £16.6 million. This makes the shortfall we've got to cover for next season even more freighting. |
Does that increase apply to us though? I don't think it does. I think it's only for clubs that got relegated after the deal was signed. | | | |
| Latest QPR accounts on 20:10 - Feb 14 with 1805 views | CamberleyR |
| Latest QPR accounts on 19:31 - Feb 14 by Rangersw12 |
I get a horrible feeling the strategy of ignoring Penrice's lower league picks for short term premier league loans is going to back fire massively next season
Also the decision to flog the same players and not use any of the youngsters is also backfiring
Holloway had his faults but he certainly put the club before himself |
"I get a horrible feeling the strategy of ignoring Penrice's lower league picks for short term premier league loans"
You know that for a fact do you? |  |
| |
| Latest QPR accounts on 20:11 - Feb 14 with 1804 views | Roller |
| Latest QPR accounts on 20:04 - Feb 14 by Northernr |
Does that increase apply to us though? I don't think it does. I think it's only for clubs that got relegated after the deal was signed. |
I'm sure it does. Our broadcasting rights income is showing as just over £20 million. If we only received £9.6 million from our parachute payments, where does the rest come from?
Likewise, the season before out broadcasting rights were over £35 million. If our parachute hadn't been increased to £31 million, what explains the rest? |  | | |
| Latest QPR accounts on 22:07 - Feb 14 with 1692 views | BrianMcCarthy |
Christ....
Just read four pages of this in one go.
I'm going to enjoy tomorrow night, and then wait for Lee Hoos' velvet voice to seduce me into believing all this will be ok. |  |
| |
| Latest QPR accounts on 22:14 - Feb 14 with 1678 views | qprxtc |
| Latest QPR accounts on 22:07 - Feb 14 by BrianMcCarthy |
Christ....
Just read four pages of this in one go.
I'm going to enjoy tomorrow night, and then wait for Lee Hoos' velvet voice to seduce me into believing all this will be ok. |
Just let this all float by on a bed of silkt indifference, let it caress your skin as you dive into it’s beautiful nothingness and the schemes and plans of the evil bastard breathed heartens are drowned out by the silence of your indifference.
This is the way to eternal QPR peace of the inner soul. |  | | |
| Latest QPR accounts on 22:58 - Feb 14 with 1622 views | BazzaInTheLoft |
The only way is up, baby.
For youths and frees now.
#Yazz |  | | |
Login to get fewer ads
| Latest QPR accounts on 23:17 - Feb 14 with 1598 views | qprd |
| Latest QPR accounts on 14:42 - Feb 14 by terryb |
How do clubs like Millwall & Preston etc manage to comply with FFP quite easily?
No parachute payments, lower income than Queens Park Rangers, but I've never read that they have a problem.
Do they survive on transfer receipts, or is it down to financial management?
I would have included Brentford in the question, but I assume their transfer sales bring a large profit.
Are these not the type of clubs we should be comparing our accounts with, rather than Forest, Villa, 'boro?
What is for sure, is that Rangers need to reduce the staff costs by a lot more than we have already achieved. Much has been done, but 98% costs for last season show what an awful position we started from! |
Millwall sold George Saville to Boro for 8m
Preston sold Hugill to West Ham for 10m
Its not just about austerity
its also about strategically selling players when the time is right. QPR consistently holds on to to the good players we have until they run out of contract, and sell/terminate contracts when no one else wants them
i did not foresee that the loss would be this bad (even accounting for the decline in parachute payments). but obviously the club has known this for a while, as they maintain management accounts which are ready ages before the yr end audited financials are available. if they knew we were going to incur such a hefty loss, they shouldve tried to move on a valuable asset
we were never going up, and we were never going down.... so selling at the end of january might have helped clean up the financials for coming years (without causing too much damage on the pitch) | | | |
| Latest QPR accounts on 23:28 - Feb 14 with 1579 views | qprd |
| Latest QPR accounts on 19:24 - Feb 14 by WestbourneR |
Essentially we need to Fernandes and Ruben to keep pumping major funds in to keep us competitive - we're allowed a lose of circa £30 mill (is that right?) over three years with FFP... if we use that lee-way then we can still shrewdly build a squad to go up. I think... sure i'll be told I'm very wrong.
However, I've heard strong rumours that Tony is out of money. No liquidity. Hence why he's been trying to get the Linford land off the council for free. He needs all the money from the property development to pay for the build... and all the rest.
The Malaysian government has changed - Tony was very close with the last lot - and now he's not getting the 'favours' he used to get to help bank-roll his whole enterprise.
When you think of the money we pissed up the wall for four years it makes you cry. Just a small slice of that now could transform this squad into a promotion team.
Feel a bit sorry for TF and Ruben. I think they wanted to do well but it's just getting harder and harder. |
The rumors about Fernandes' liquidity are easily proven wrong with a very quick google search
Fernandes is the controlling shareholder of a multibillion dollar company. as air asia is a public company, the value of his stake is public information.
https://ir.airasia.com/major_shareholder.html
https://finance.yahoo.com/quote/5099.KL/?guccounter=1
the operations of air asia are diversified across asia, so the bit about political risk/favours is really oversimplified.
he has more than enough money to afford qpr
whether he wants to continue to pump a minimum of 10m-15m each year to a club where most of the fans hate him despite the money he has sunk into the club...... thats a different question | | | |
| Latest QPR accounts on 23:29 - Feb 14 with 1575 views | BazzaInTheLoft |
We still have so much fat we can trim. Look how many players we have out on loan that can 'do a job' in place of one of our senior players.
Maybe i'm being naive but 11 seniors players is all we need. The rest can be younguns, which we have in spades!
It's now or never for most of these kids. | | | |
| Latest QPR accounts on 23:40 - Feb 14 with 1563 views | QPR_John |
| Latest QPR accounts on 23:28 - Feb 14 by qprd |
The rumors about Fernandes' liquidity are easily proven wrong with a very quick google search
Fernandes is the controlling shareholder of a multibillion dollar company. as air asia is a public company, the value of his stake is public information.
https://ir.airasia.com/major_shareholder.html
https://finance.yahoo.com/quote/5099.KL/?guccounter=1
the operations of air asia are diversified across asia, so the bit about political risk/favours is really oversimplified.
he has more than enough money to afford qpr
whether he wants to continue to pump a minimum of 10m-15m each year to a club where most of the fans hate him despite the money he has sunk into the club...... thats a different question |
Fernandes having enough money to afford QPR is irrelevant under FFP. | | | |
| Latest QPR accounts on 23:50 - Feb 14 with 1551 views | qprd |
| Latest QPR accounts on 23:40 - Feb 14 by QPR_John |
Fernandes having enough money to afford QPR is irrelevant under FFP. |
I know. No one is suggesting otherwise
Jeff bezos could buy qpr and it wouldn’t make a difference for ffp [Post edited 14 Feb 2019 23:51]
| | | |
| Latest QPR accounts on 00:05 - Feb 15 with 1535 views | PunteR |
| Latest QPR accounts on 10:43 - Feb 14 by ted_hendrix |
Accountancy?
Why bother? used to be that you could turn up at your club every other Saturday afternoon, gulp a few pints in the pub, watch a game of football without worrying about something called financial fair play/pay or whatever the fck its called nowadays, I don't ever recall back in the day ever crapping myself during a game about facing a points deduction at the end of the season because my club had spent too much money on bastard light bulbs and corporate bleeding sandwiches.
The bloke who plays for the Arse is going to play in Italy at the end of the season and get paid £400k per week?
Yea that's right you couldn't make it up. not quite sure what I'm going on about but I just sometimes wish/hanker for the old days when football was about just that football and not bloody money/finances/points deductions/4.00pm KO's on a pox ridden Sunday/useless referees.
I never drove to Loftus Road years ago worrying about our accounts. |
Great post Ted.
I'm getting a bit sick of it all tbh. I just want to enjoy the game tomorrow without having to worry about the financial consequences of the result.
Football is money obsessed. |  |
| Occasional providers of half decent House music. |
| |
| Latest QPR accounts on 02:19 - Feb 15 with 1482 views | acricketer |
| Latest QPR accounts on 20:10 - Feb 14 by CamberleyR |
"I get a horrible feeling the strategy of ignoring Penrice's lower league picks for short term premier league loans"
You know that for a fact do you? |
If you read the post and follow the linkage of words in the sentence in the order that they were arranged, you will be able to make out the interrogative nature of the response rather than the interpreted certitude. | | | |
| (No subject) (n/t) on 04:02 - Feb 15 with 1438 views | Blue_Castello |
| Latest QPR accounts on 19:31 - Feb 14 by Rangersw12 |
I get a horrible feeling the strategy of ignoring Penrice's lower league picks for short term premier league loans is going to back fire massively next season
Also the decision to flog the same players and not use any of the youngsters is also backfiring
Holloway had his faults but he certainly put the club before himself |
| | | |
| Latest QPR accounts on 04:22 - Feb 15 with 1425 views | Blue_Castello |
| Latest QPR accounts on 19:31 - Feb 14 by Rangersw12 |
I get a horrible feeling the strategy of ignoring Penrice's lower league picks for short term premier league loans is going to back fire massively next season
Also the decision to flog the same players and not use any of the youngsters is also backfiring
Holloway had his faults but he certainly put the club before himself |
The accounts really do paint a horrible picture as highlighted by Clive, thanks for the information it saves wading through a horribly complicated accounting document. There does seem no option now than to take the Bristol City approach and sell your best players, thankfully Lee and Les got Freeman to extend his contract, best case scenario for me is somebody with pots of money takes a gamble on Eze and that gives us the chance to keep Freeman.
The strategy of ignoring lower league picks looked a mistake earlier in the season but I keep looking at Ipswich and that's the exact strategy that Hurst employed. Plenty of people on here thought Ipswich had made a good choice of Managerial appointment and Hursts strategy of hoovering up prospects from Div1 and 2 eventually backfired. The whole process has cost Ipswich a lot of money, sacking him mid-term and then employing Lambert whose strategy has been to get experienced players into the squad as quickly as possible at presumably a very heavy cost to the club.
Whether we should have sent all of our Under 23s out on loan is certainly up for debate but if they were not going to get game time its the right decision. As we now know from the accounts Lee and Les have had some tough decisions to make and I'm sure they have been made in the best interests of the club financially. [Post edited 15 Feb 2019 4:32]
| | | |
| Latest QPR accounts on 07:11 - Feb 15 with 1368 views | Gloucs_R |
So another fire sale this season then. Goodbye Freeman and Eze. Hello bargain basement. Unless some of the players out of contact sign for a lot less, expect a mass exodus in the summer (again) |  |
| |
| Latest QPR accounts on 07:30 - Feb 15 with 1358 views | davman |
| Latest QPR accounts on 12:38 - Feb 14 by Juzzie |
IMO it's not really thanks to FFP. It's thanks to having to use 98% (or whatever it is) of our income to pay players. That is the singular root cause of the mess football is in.
Years ago I read an article in WSC where they were interviewing a player who went from Newcastle to Blackburn. He was asked about the differences between the clubs and what he chose to say (amongst many options available) was how the dressings rooms were in such a poor state.
Well, maybe if him and his playing colleagues weren't rinsing the club for every penny they could get then the working conditions might be better. Here's an idea, how about they all club together to pay for the dressings rooms to be revamped. Nah, will never happen, have a Bentley that they need to bling up first. |
Nope, it is purely down to FFP. If that pile of sh1t didn't exist, our Owners would be free to cover whatever costs they wanted and we'd be away. The utterly soul destroying thing is that Chelsea and Man City would not be where they are if FFP had been in place when their owners chucked thir wad.
But now that's against the rules, no-one else can do it.
Apparently that's "fair".
As I have always said, let owners invest what they want. As long as they pay the cash needed rather than credit to avoid the club taking on debt, I do not see what the problem is. They have taken away the ability of fans to dream.
Face it, if we don't go down this season, it'll be next season or the one after.
 |  |
| |
| Latest QPR accounts on 07:52 - Feb 15 with 1332 views | Hunterhoop |
Put simply, from a playing side, it’s “sell Eze AND Freeman”, and replace in the first team with Chair and BOS. It’s then sign two young league 1/2 players as back ups. We can stay up doing that.
It’s let Hall and Lynch go, and sign a CB from League 1/2 on a free (I hope the club have this lined up already) and save a lot in wages, with Giles Phillips moving up the queue.
Bidwell is tricky. I think we’ll try to re-sign him on lower wages given only Nico in reserve. Presumably that’s why he’s abroad gettin game time.
Pav will be similar. They’ll offer a reduced salary depending on whether we’ve shifted Eze and Freeman. Whether he accepts.
Hemed and Wells...basically we’re not keeping them. But the salaries they have spent on both “could” be put towards signing one equivalent player on a free. Oteh and Smith make up the remaining forwards.
I think this team, well coached, could compete and would stay up. But we have to sell two players this summer for more than £10m to give ourselves breathing room for the following year on the rolling 3 year front. |  | | |
| Latest QPR accounts on 09:25 - Feb 15 with 1226 views | GloryHunter |
| Latest QPR accounts on 11:09 - Feb 14 by londonscottish |
This is why Lee Hoos is so keen on getting a stadium sorted which has parking and which can be used for other (corporate) things when it's not being used (rarely) on a matchday. And which isn't tiered (to reduce the cost running it on match days) and which had much better concourses (so they can sell loads more food & drink).
I've been on training courses and things like that several times at the Madjeski, S******d B****e and, most recently, at the Polish national Stadium. The latter had a massive photography tradeshow on at the same time. At the Mad Stad there were 150 of us booking out loads of rooms, eating and drinking and generally throwing money at Reading. |
How does not having tiers reduce the running costs, please? |  | | |
| Latest QPR accounts on 09:33 - Feb 15 with 1215 views | qprd |
| Latest QPR accounts on 09:25 - Feb 15 by GloryHunter |
How does not having tiers reduce the running costs, please? |
You need security for each tier, so double the costs
That’s why they entirely shut down the school end when it can’t be filled
At the end of the day, this incremental cost probably isn’t moving the noodle too much tho | | | |
| Latest QPR accounts on 09:53 - Feb 15 with 1185 views | stevec |
If you look at the Championship table, five of the bottom six are amongst the lowest supported, look at the top ten, around nine are amongst the most well supported.
This is not just a strategy born of the EFL and FFP, it's the Premier League wanting all the best supported clubs in their League. That will be achieved within ten years max.
Basically, it's saying that without a bigger stadium we are fcked, just as TF and Hoos keep telling us.
At a glance, that puts us about 50th out of the 92. We'd need a stadium of about 35,000 capacity to compete at the top level, maybe getting away with 30k to stand a chance of flurries in the Premier League. So stay as we are and we're essentially a League One club, build a stadium and it's Premier/Championship top end.
You can argue the toss with Bournemouth and Sunderland as prime examples but check League One and Two these days, very very few big stadium clubs at that level any more. |  | | |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
