QPR 1st have been approached by representatives of Brentford Supporters Trust, Bees United, who say they are very close to securing a deal under which Ron Noades will give their Trust 51% ownership of Brentford FC.
Griffin Park is to be sold for a figure thought to be something
aproaching £17m, leaving Brentford needing to build or acquire a new stadium.
Bees United are considering two options, which are pertinent to QPR:
either to purchase Loftus Road outright or to purchase 50% of Loftus Road in order to secure tenancy on a groundsharing basis with QPR.
Both options are seen as a short-term measure to allow Brentford FC to continue to exist while a new stadium is developed in a suitable location. Bees United have intimated that a deal involving the purchase of part or all of Loftus Road would allow QPR to come out of administration and pay off some or all of our club’s debts; and would involve the transfer of ownership of QPR FC to the QPR 1st Supporters Trust. Once Brentford FC had secured or developed a suitable stadium of their own, they intend to sell their portion of Loftus Road to QPR FC
Whilst fully appreciating the situation at Brentford and in no way
doubting the sincerity of the Bees United approach, which was made to QPR 1st late on Friday and is planned to go public next week, our reaction to it was and remains one of profound scepticism.
QPR 1st does not believe that the figures Bees United have given us add up. The idea is that Griffin Park’s sale will raise up to £17m – and a bid for all of Loftus Road would be £10m; or £6m for 50% of it. We believe this figure is lower than a realistic commercial valuation of the stadium and the land it stands on. Under this deal, QPR FC would in essence become tenants of Loftus Road until Brentford moved on.
QPR 1st does not consider such a proposal as it stands to be workable or acceptable to QPR fans. There is, though, a possibility that Bees United could pursue such a course of action, regardless of opposition from QPR fans. As such, we will engage in further dialogue with Bees United in order to clarify their position and investigate any proposals they have. We will continue to make public the substance and outcome of any such talks.