NOW THAT IT APPEARS THE CURRENT QPR BOARD HAS SUCCESSFULLY NEGOTIATED A FINANCE PACKAGE TO TAKE THE CLUB OUT OF ADMINISTRATION, WE WISH BOTH DAVID DAVIES AND IAN HOLLOWAY EVERY SUCCESS FOR THE FUTURE.
FOR THE SAKE OF THE SUPPORTERS, WE TRUST THE BOARD WILL NOT ONLY ENSURE THAT THE MISTAKES OF THE PAST ARE NOT REPEATED BUT THAT THEY ARE ABLE TO TAKE THE CLUB FORWARD AND RESTORE IT TO THE EMINENT POSITION IT ONCE ENJOYED.
WE HAVE TO SAY THAT WE REMAIN DISAPPOINTED WE WERE NOT GIVEN AN OPPORTUNITY TO PRESENT OUR PROPOSALS TO THE ADMINISTRATOR. WE HAD A SOUND AND LONG TERM BUSINESS PLAN THAT WOULD HAVE GUARANTEED QPR’S FUTURE. HOWEVER, THE ADMINISTRATOR CHOSE TO GRANT THE CURRENT BOARD A PERIOD OF EXCLUSIVITY FOUR WEEKS AGO AND ALTHOUGH WE WERE AT A STAGE WHERE WE COULD HAVE COMPLETED IN TWO WEEKS, THIS PREVENTED OUR PROPOSALS EVEN BEING CONSIDERED.
FOR THE RECORD, WE HAD TWO ALTERNATIVE PROPOSALS TO PUT TO THE ADMINISTRATOR, THE FIRST INVOLVED THE SALE AND LEASE BACK OF LOFTUS ROAD WITH QPR BEING GRANTED A 250 YEAR LEASE THE SECOND AND MOST FAVOURED BY SPORTING RANGERS WAS A 25 YEAR CAPITAL GUARANTEE WITH A SIX YEAR INSURANCE INDEMNITY, RENEWABLE AT THE END OF THE SIX YEAR PERIOD, WHICH GUARANTEED THE REPAYMENT OF THE INTEREST, THEREFORE SAFEGUARDING QPR AND LEAVING LOFTUS ROAD UNENCUMBERED. BOTH SOURCES OF FINANCE WERE PREPARED TO FURTHER ASSIST THE CLUB IN THE FUTURE TO ENABLE THE CLUBTO REMAIN A VIABLE AND GOING CONCERN AT LOFTUS ROAD.
NATURALLY WE WOULD HAVE LIKED AN OPPORTUNITY TO PRESENT THESE AND OUR OTHER IDEAS BUT DESPITE BEING A MATTER OF IMMENSE IMPORTANCE TO THE FUTURE OF QPR THE ADMINISTRATOR DECIDED OTHERWISE.
WE THEREFORE TRUST THAT THE PEOPLE WHO REMAIN AT THE HELM OF QPR ARE ABLE TO JUSTIFY THE FAITH HE HAS PUT IN THEM. IT IS THE LEAST THE SUPPORTERS DESERVE.
STATEMENT ENDS