QPR1st understands that a consortium fronted by Brian Melzack is at an advanced stage to take over QPR and the Loftus Road ground from current owner Chris Wright. In light of this development, QPR 1st makes the following statement:
“QPR 1st calls upon Brian Melzack to make it clear to fans the broad outline of the business plan presented to the administrator and Chris Wright, the full financial terms of the deal to take over the club, and most importantly the identity and business credentials of his consortium members.
QPR 1st also calls on Brian Melzack to allay the current uncertainty amongst QPR fans by confirming or denying rumours of the use of junk bonds as the basis of the funding for the takeover – and to make a clear, unequivocal statement of intent about his consortium’s short- and long-term plans for Queens Park Rangers FC and its Loftus Road ground.
QPR 1st advises Chris Wright, however anxious he might be to recover the maximum possible amount of his investments in QPR, to consider the implications of leaving QPR in a situation whereby the club is in danger of becoming homeless, or even folding, because of the nature of the borrowing to support the purchase of QPR.
QPR 1st also reminds the administrator that his role and primary
objective is to secure the best deal for the long-term future of Queens Park Rangers and not accept a bid at any cost in order to ensure the major creditor is satisfied to the detriment of others.”
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