QPR 1st once again urges Chris Wright to consider dropping the debt owed in loans.
Following the league’s decision to uphold its transfer embargo on QPR, QPR1st calls on Chris Wright to make it easier for those bidding to buy the club by relaxing his terms or dropping the debt completely.
The ban on signing players, apart from under certain conditions, is a terrible blow as we continue to pursue a promotion that seemed far beyond our reach at the beginning of the season. According to the league, the embargo is only happening because of QPR’s financial status. Therefore, the only way to get it lifted, although QPR 1st is exploring legal options, is to take the Club out of administrative receivership and back into normal trading.
So far, what has stopped this happening has been the size of the loans guaranteed by Chris Wright, £6.7m, which make up about two thirds of the overall debt owed by QPR. Any prospective buyer has been asked to shoulder that debt burden and find money to operate the club as a going concern. Consequently, we call on Chris Wright to find a way of reducing, or even cancelling altogether, the amount of money which the winning bidder must pay to service this debt.
QPR 1st is actively seeking meetings with Chris Wright and with the apparent lead bidder of the moment, Brian Melzack. This is one of the reasons that we are currently polling members to see if we can relax our rules on bidder confidentiality and we hope to have meetings set up next week. Meanwhile, we have also repeated the questions we asked of Maurice Fitzgerald at the end of January.
Chris Wright invited to QPR 1st public meeting
QPR 1st recently made contact with Chris Wright to invite him to speak at a public meeting we are arranging to take place in April. Unfortunately Mr Wright is unable to attend due to other commitments abroad during that period in April. We are seeking a meeting with Chris Wright, and his advisers, to take place in the very near future, but in the meantime QPR 1st once again urges Chris Wright to consider dropping the debt owed in loans.
The invitation to Chris Wright to speak publicly is also being sent to all known prospective bidders/buyers of QPR FC; the current club management; the current team management; players (past and present); various media parties; supporters groups; local council and political reps and reps from Supporters direct, the Governing body of supporters trusts. More news and information of the format of the evening will be released shortly.
QPR 1st would also like to say, following the launch of the QPR 1st Directory idea last month, how encouraged we are to note that the club is receptive to innovative ideas, and indeed thank them for encouraging more fans and fan groups to be involved in our initiative.