Time for a Shareholders Meeting?

Shareholders have recently received a letter from the Club regarding the £10 million loan the Club received from Amulya Property Limited. The letter informs them that the Club is seeking an agreement for the deadline by which the loan has to be paid to be extended until May 2011.

Loftus Road continues to be used as collateral for the loan. In other words if  the Club continues to default on the loan, ownership of the ground could pass from the Club to Amulya, a company which it is understood both Flavio Briatore and Amit Bhatia have an interest.

In the meanwhile,  a statement has been released by Antonio Caliendo’s press office, stating that he has instructed his lawyers to determine whether there are grounds for the seizure of the Club’s assets held by Mr Flavio Briatore (through the company Sarita Capital Investment Inc) in order to pay back the money Caliendo claims is still owing to him. According to a statement issued at the time of the takeover, it was agreed that a loan of £2 million would be paid to Caliendo by next month.

QPR’s Supporters Trust believes that the shareholders of QPR Holdings Ltd will have various questions about these developments and would wish to seek reassurance that the Club’s ownership of Loftus Road will be protected. We will be writing to the Club to express this view.