Following renewed speculation and continued request from members we posed the following question to David Davies this morning, his response is coped below.
Dear David,
The Trust acknowledges the fact you are bound by a confidentiality agreement in respect of the £10m loan. However, given the strength and detail of the rumour surrounding the identity of the mystery lender, will you at least state categorically that it is not Michael Hunt, the jailed former head of Nissan UK. You have already stated that it is not Mohammed Al Fayed. Can you make the same assurance about Michael Hunt?
We intend to publish both this e-mail and your response in full on the qpr1st website. Please reply by e-mail by 5pm 31/03/03.
Regards,
Justin Pieris
Vice Chairman
QPR 1st
Response from David Davies
Justin
Although I know it has been the subject of some speculation, you have been aware for some time I am bound by confidentiality and not in a position to comment on your request. However, I feel it is fair to make the following points.
The other party involved in the loan is clear, the loan is with ABC Corporation and its Directors. The loan of the money is enshrined in a legally binding framework, to which both parties are subject. The clubs concern now, and going forward is to meet its obligation when they fall due. The speculation over who may or may not have been involved in the affairs of Nissan(UK) contribute little to meeting those obligations.
The most important element is ensuring the loan repayments are met, not what the background of an individual may or may not be. What is, and was uppermost is that the money is legitimate, not raised through illegal activities. The club and BDO Haywood satisfied the court at the point of exiting administration that the loan came from legitimate sources.
We have structured the agreements enabling repayments on a monthly basis. It was far more prudent to do this than to face a lump sum at the end of the quarter or year, thus denting our cashflow.
I recognized the concerns of the fan base over the timing of the exit from Administration and the Groundshare agreement with Fulham. Based on those real concerns I took the step to clarify there was no relationship between the two. Similar concerns surrounded the possibility of the lender being Ron Noads and again in an attempt to allay fears I clarified the situation. Furthermore I am prepared to clarify the lender does not own another club.
I am not in a position to clarify matters any further, and after umpteen meetings where the same question has been raised by you, this will not be a surprise to you.
David