At our recent meeting with the club a number of the questions from members had to be left with the club for a response due to a shortage of time, we have now had replies to the questions which are set out along with the answers we have received.
Members Questions
1 Who were the interested Italians? Why did they cool their interest?
Confidentiality agreements prevent the club from discussing in detail any prospective bids. We understand that fans get frustrated at this, but likewise our fans have to understand that it is standard business practice.
2 At what stage are the discussions with a possible interested buyer and will they be revealing the name to QPR1st before any contracts are signed? (with reference to LSA meet)
See the answer above. The first duty of the board of directors is to the shareholders – it has to be this way legally because we are structured as a plc. So in the event of a bid, the board would make a decision on behalf of the shareholders.
3 Does the club need to make any alterations to the ground before the DDA comes into effect in 2004?
We do not anticipate being required to make any alterations. However, if we had sufficient funds available we would look to make alterations ourselves to improve the facilities for our disabled fans.
4 What is the clubs business plan for the next financial year?
Our business plan is based on a rolling 3 year timescale. It is altered regularly – as it has to be in our industry – to take account of any changes in the club’s own situation and the wider football environment. The plan is currently based on the assumption of being in the same division for this period. This does not mean that the club has no ambition to get promoted, just that it is not assumed in budgetary terms.
5.Is there any news on the Fans Forum at Slough Town FC that is supposedly taking place in FEB – If the club is serious about these events, why are they shrouded in secrecy? – With enough notice fans could actually make arrangements to attend!
There is no secrecy! The point is to allow fans to ask questions of players, management and club staff. Anyone can send in a question in advance and everyone stands an equal chance of getting their question (or at least a similar one sent in) asked. If the point were to be secretive and hide facts, the club wouldn’t bother running Fans Forums in the first place.
Simply, we don’t release details until all aspects of the event are confirmed. Our experience is that it is better to go to people with clear details rather than unconfirmed thoughts. The last forum was organised at relatively short notice. Plans are afoot for another forum, hopefully in Slough, but arrangements still need to be confirmed with a number of different parties such as BBC LDN.
6. What have Messrs Blackburn/Jones/Fuller/McGrath/Winton actually done QPRwise over the last 6 months.
7. Regarding Lyndon Fuller. What money has he put into the club apart from the commision on sales of his services? And do QPR financial services pay a commercial rate for the massive amount of advertising they get?
6&7 answered in meeting with QPR 1st Committee. (see report)
8. I would like to know that if Fulham asked for an indefinite stay at QPR would the board consider it, or would there be a limit to their stay with us?
The board has always said it would be their duty to consider sensibly any approach from FFC for a permanent groundshare. The board has said this at the risk of annoying our fans, purely and simply because it is the board’s duty to look at all possibilities that could potentially benefit the club. To date there have been no negotiations, so we cannot say whether there would be any proposed limit to any potential deal. The current limit of their stay is 2 years.
9. Were the Winton family given any of the cash that they invested in players back now that their fund raising scheme did not succeed?
The arrangements between WAQ and the club are still in place, there has been no change. The board believes that WAQ has returned all the donations it raised in the failed bid for flotation.
10. What is the clubs business plan for the period of the loan?
See answer to question 4.
11. Shortly after exiting administration, the official site announced that “Nick Blackburn has been invited to resume as Chairman” Hence my question: “Who ‘invited’ him?
The board invited Nick Blackburn to resume his duties as chairman.
12. Why have Fulham, who have nowhere to play next season, not been signed for a three year extension to their ground-share lease?
The original agreement was envisaged as a 1 year deal, with the possibility of 2, as at the time the assumption was that FFC would be looking to return to Craven Cottage. An extension to the current arrangement has neither been sought nor asked for by either club.
13. If the plc, who were confident even BEFORE the windfall of Fulham’s puny rental income of moving the Football Club forward courtesy of the £10million loan, are still courting prospective buyers then will they step aside and permit the return to self determination of the Football Club and allow it’s future to be it’s own problem and not that of outside interest. And if not, why not?
This is a complicated question, so our answer comes in 3 parts.
i) The question quotes ‘Fulham’s puny rental income’ – The rental FFC is paying is the market value for such arrangements. There is a perception that because FFC have a wealthy owner they should be fleeced for all their business deals. However, we want to be known as a club that does sensible, sustainable deals, not one always on the make looking to fleece people.
ii) Why are the club still courting buyers? The board has always stated they are looking for what is best for the club and the plc. The exit from administration was an important step in the right direction, but it was not the final solution for the future wellbeing of the club. A significant injection of capital would undoubtedly help the club. If somebody was able to provide such an injection of capital the board have stated unequivocally that they would be willing to step aside if it enabled such a deal to happen.
iii) The question of self-determination – very few football clubs have the complete ability to determine their own future, even at the top tier (look at the examples of Leeds and Leicester). Exiting administration has given the club more control over it’s own destiny. If the questioner is alluding to the club being structured and run as a co-operative, then such an approach would have to be treated like any other prospective purchase according to corporate law.