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Latest QPR accounts 09:39 - Feb 14 with 14275 viewsNorthernr

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
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Latest QPR accounts on 09:47 - Feb 14 with 6573 viewsterryb

This can't be right Northern.

I've read postings on this site that the loss for last season was less than the previous season. Therefore, we would be able to sign whoever we wanted to this summer!

It may be that we can't afford to offer any of Hall, Lynch & Bidwell a new contract. We might also need to win a couple more FA Cup games to keep this seasson below £15 million.
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Latest QPR accounts on 09:55 - Feb 14 with 6538 viewsNorthernr

Latest QPR accounts on 09:47 - Feb 14 by terryb

This can't be right Northern.

I've read postings on this site that the loss for last season was less than the previous season. Therefore, we would be able to sign whoever we wanted to this summer!

It may be that we can't afford to offer any of Hall, Lynch & Bidwell a new contract. We might also need to win a couple more FA Cup games to keep this seasson below £15 million.


Yes well that was always going to be bolox.
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Latest QPR accounts on 09:56 - Feb 14 with 6531 viewsElHoop

I'm not entirely sure that is correct but i may be wrong (probably am).

Because of the stupid way in which liabilities such as the FFP fine are recognised in accounts these days, we're only actually showing a liability of £15m. The other £5m is a weird sort of credit which reduces the loss (note 8). So arguably we lost £22m after a net FFP provision of £15m - £22m is the declared operating loss on page 8, before the FFP shite is included. I have no idea how this affects our overall FFP calculation though, but it isn't looking too good.
[Post edited 14 Feb 2019 10:05]
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Latest QPR accounts on 10:08 - Feb 14 with 6481 viewsElHoop

The accounts are also here by the way:

https://beta.companieshouse.gov.uk/company/03197756/filing-history/MzIyNjgwNzQ4N
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Latest QPR accounts on 10:13 - Feb 14 with 6453 viewsBrianMcCarthy

Good God, when it comes to accountancy I'm even thicker than usual.

Even if it was the best news ever, it would give me a headache.

"The opposite of love, after all, is not hate, but indifference."
Poll: Player of the Year (so far)

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Latest QPR accounts on 10:22 - Feb 14 with 6413 viewsqprxtc

I wonder to myself quite often what is the point in supporting Rangers, it seems we are going to be fined for the rest of our existence just for being in existence.
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Latest QPR accounts on 10:24 - Feb 14 with 6409 viewsmakaveli1882

Once the FA Cup run is over (probably tomorrow) and once we are safe (3 more points) would it not be wise to send Wells and Hemed back to their parent clubs?

Heard Wells was on 30k plus a week, not sure if that is true or if Burnley are helping with wages but Hemed will be on high wages too and neither will be playing for us next season that is for sure.

Also a chance to blood the youth we have for next season Bright Eze etc
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Latest QPR accounts on 10:24 - Feb 14 with 6404 viewsdaveB

Latest QPR accounts on 09:47 - Feb 14 by terryb

This can't be right Northern.

I've read postings on this site that the loss for last season was less than the previous season. Therefore, we would be able to sign whoever we wanted to this summer!

It may be that we can't afford to offer any of Hall, Lynch & Bidwell a new contract. We might also need to win a couple more FA Cup games to keep this seasson below £15 million.


puts the Smithies sale into perspective, club were slaughtered for that but have ended up with a few million when they were clearly in desperate need of the money
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Latest QPR accounts on 10:30 - Feb 14 with 6371 viewsNorthernr

Latest QPR accounts on 10:24 - Feb 14 by makaveli1882

Once the FA Cup run is over (probably tomorrow) and once we are safe (3 more points) would it not be wise to send Wells and Hemed back to their parent clubs?

Heard Wells was on 30k plus a week, not sure if that is true or if Burnley are helping with wages but Hemed will be on high wages too and neither will be playing for us next season that is for sure.

Also a chance to blood the youth we have for next season Bright Eze etc


On a season long loan mate we're committed to paying them anyway, whether they're here or not, unless they get another move which obviously the can't now. When Gillingham sent JET back early, they were still paying their percentage of his wage for the remainder of the season, they just couldn't stand to have the lazy fat wnkr around any more so were happy to pay him to not be there.
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Latest QPR accounts on 10:43 - Feb 14 with 6313 viewsted_hendrix

Latest QPR accounts on 10:13 - Feb 14 by BrianMcCarthy

Good God, when it comes to accountancy I'm even thicker than usual.

Even if it was the best news ever, it would give me a headache.


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.

My Father had a profound influence on me, he was a lunatic.

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Latest QPR accounts on 10:47 - Feb 14 with 6292 viewsqprxtc

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.


Afeckingmen Ted.
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Latest QPR accounts on 10:48 - Feb 14 with 6290 viewsAntti_Heinola

Latest QPR accounts on 10:24 - Feb 14 by makaveli1882

Once the FA Cup run is over (probably tomorrow) and once we are safe (3 more points) would it not be wise to send Wells and Hemed back to their parent clubs?

Heard Wells was on 30k plus a week, not sure if that is true or if Burnley are helping with wages but Hemed will be on high wages too and neither will be playing for us next season that is for sure.

Also a chance to blood the youth we have for next season Bright Eze etc


it's safe to say that while Wells will be on 30k a week, we won't be paying all of that. Maybe half.

Bare bones.

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Latest QPR accounts on 10:50 - Feb 14 with 6277 viewsstevec

Wages as a percentage of turnover 98% !

We all blame TF, the Board, lack of a training ground etc etc, but just read that line over and over again and ask yourself is this really acceptable.

Next time you see a player outside the ground, on the tube, don't ask for a selfie, don't ask if the boys are up for the next game, just politely ask 'do you genuinely feel footballers wages are justified?'
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Latest QPR accounts on 10:55 - Feb 14 with 6258 viewsNorthernr

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.


No me neither, and I didn't start this site because I wanted to be a financial service, but this is where FFP has driven us sadly.
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Latest QPR accounts on 10:56 - Feb 14 with 6253 viewsoldmisery

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.


The probable irony is that in the far flung future our grandchildren will think these are the good old days!
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Latest QPR accounts on 10:56 - Feb 14 with 6253 viewsElHoop

In the old days, when the board tried to balance the books they were greeted with chants around the ground of 'Gregory must go' or 'We want Thompson out' - the likes of which have ever been directed at Fernandes & Co to my knowledge.

Just an observation from supporting the club for a long time - but maybe that sums us up as a club in terms of the average supporter.
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Latest QPR accounts on 10:58 - Feb 14 with 6247 viewsCFW

There is no doubt as a club we have made great progress in trying to get our financial situation under control - if we are still having problems how the hell do other clubs manage?

In the Championship many clubs that have much bigger squads than us, purchase players for considerable fees and their wage bills must be much, much more than ours. Ok some have bigger grounds and therefore larger gate receipts but we cannot be the only club in this situation.

The fear is for me is simple - we can never get out of this division and will struggle to stay in it.
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Latest QPR accounts on 10:59 - Feb 14 with 6235 viewsstevec

Latest QPR accounts on 10:55 - Feb 14 by Northernr

No me neither, and I didn't start this site because I wanted to be a financial service, but this is where FFP has driven us sadly.


Not the players?
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Latest QPR accounts on 11:00 - Feb 14 with 6237 viewsJordanFoster

I just can't see how we stay up next year with the position we will be in.
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Latest QPR accounts on 11:02 - Feb 14 with 6223 viewssimmo

Latest QPR accounts on 10:50 - Feb 14 by stevec

Wages as a percentage of turnover 98% !

We all blame TF, the Board, lack of a training ground etc etc, but just read that line over and over again and ask yourself is this really acceptable.

Next time you see a player outside the ground, on the tube, don't ask for a selfie, don't ask if the boys are up for the next game, just politely ask 'do you genuinely feel footballers wages are justified?'


Of course you're right, but that's also because our turnover has dropped significantly with the parachute payments diminishing. The turnover is now the lowest it's been since 2011 or something, so stands to reason wages as a % of it will increase...

ask Beavis I get nothing Butthead

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Latest QPR accounts on 11:05 - Feb 14 with 6207 viewsRblockPrior

Just shows the importance of the FA cup run this year, that £360,000 if we win tomorrow will help alot, add that to the additional ticket sales and tv money. It is well worth taking it seriously!

Fourth Round Proper winners (16) £180,000
Fifth Round Proper winners (8) £360,000
Quarter-Final winners (4) £720,000
Semi-Final winners (2) £1,800,000
Semi-Final losers (2) £900,000
Final runners-up (1) £1,800,000
Final winners (1) £3,600,000

Poll: Of the 3 linked away, who do you think will still be a QPR player come February?

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Latest QPR accounts on 11:09 - Feb 14 with 6192 viewslondonscottish

Latest QPR accounts on 10:58 - Feb 14 by CFW

There is no doubt as a club we have made great progress in trying to get our financial situation under control - if we are still having problems how the hell do other clubs manage?

In the Championship many clubs that have much bigger squads than us, purchase players for considerable fees and their wage bills must be much, much more than ours. Ok some have bigger grounds and therefore larger gate receipts but we cannot be the only club in this situation.

The fear is for me is simple - we can never get out of this division and will struggle to stay in it.


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.

Poll: Do you love or hate the new Marmite ad?

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Latest QPR accounts on 11:15 - Feb 14 with 6167 viewspaulparker

Enjoy Eze and Freeman while you can folks

And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot That’s there that’s two, and that’s Bowles Brian Moore

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Latest QPR accounts on 11:18 - Feb 14 with 6153 viewsstevec

Latest QPR accounts on 11:02 - Feb 14 by simmo

Of course you're right, but that's also because our turnover has dropped significantly with the parachute payments diminishing. The turnover is now the lowest it's been since 2011 or something, so stands to reason wages as a % of it will increase...


I get that but is there a single Company outside of football, in the entire World, that pays 98% of it's turnover on wages?

Don't need to waste your time looking, there isn't.

It's not like we didn't know there would be a collapse of turnover, parachute payments are there in writing, it's simply that players are being paid far too much across the board.
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Latest QPR accounts on 11:24 - Feb 14 with 6129 viewsNorthernr

Latest QPR accounts on 10:59 - Feb 14 by stevec

Not the players?


No of course the players and their salaries, but what I mean is before FFP if an owner just wanted to chuck money at it he'd chuck money at it, whereas now you face a points deduction if you don't meet a certain point on your balance sheet. so as Ted says we used to go to Rangers and watch the football and come away, and now we're all sifting through sets of accounts to see what they mean for our league status next season.
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