QPR’s latest financial statements raise a number of questions. QPR1st Supporters’ Trust hopes the club will clarify these issues so that supporters can have an accurate picture of what it happening at the club they follow.
The financial statements show the club’s net debt grew to £179.6m for the year ending May last year, £2.5m more than the previous year.
It shows shareholders wrote off £60m of debts owed to them, which reduced the debt for the year. But, without that, QPR as a business had an operating loss of £69 million, £4m worse than the previous year.
- Is there a genuine plan to bring spending in line with income, or
- Will shareholders continue to write off their debts in the coming years?
The statement shows QPR Holdings Limited spent more than £4m on behalf of Rangers Developments Ltd. This was created in June 2013, with three shareholders; two of whom, including Tony Fernandes, are QPR directors.
- What is the role of Rangers Development Ltd?
- Will the new stadium will be owned by QPR Holdings – ie the club – or by Rangers Development Ltd?
- How will the proposed New Queens Park, including the stadium be financed?
- Will the owners agree to supporters being represented on the management board of the new stadium – to support the maintenance of the stadium’s central role as the home of QPR football club
The next 12 months will be a momentous year for QPR both on the pitch but also off it as decisions are made over the Old Oak regeneration. It is vital that supporters and the owners understand each other and work together for the success of the club.
We will be contacting the club and asking them these questions.