Trust meet with Administrators
Representatives from QPR 1st’s financial team met with the administrators, Ray Hocking and Robert Smailes from BDO Stoy Hayward, on Wednesday at their offices in London.
The meeting was called to gauge the current attitude of the administrators and glean any information that we could. Clearly we are not in a position to make any demands and nor is the administration required to have any dealings with us at all.
It was therefore a pleasant surprise to find a relaxed atmosphere, where no subject was deemed to be off-limits. A number of useful and/or interesting points came out of the meeting, and we draw everyone’s attention to no.7 in particular.
1. An alternative bid was received for the training ground by a property developer but it was below Chris Wright’s offer. They were invited to resubmit and did make an increase, but still below the Chris Wright figure. Ray Hocking is totally happy that the figure paid by Chris Wright was at or above the market value.
2. The training ground deal was done to provide cashflow to QPR. Without it the club would have had to close or sell players.
3. Ian Holloway has not been given a final budget for the team next season, although some parameters have been set. A final budget will be agreed shortly. This will be an “average” budget for a Second Division team.
4. The PFA have been very supportive of the club and the players. Robert Smailes is in negotiation with Brendan Batson’s deputy on this – Simon Barker!
5. There has been some interest in the transfer market but there are currently no plans to sell players. If a fantastic offer came in next week for a player, then it would be considered on its merits.
6. If October comes around with no deal being done, then cashflow may need to be facilitated by selling a player. This is a reality which many clubs face each season.
7. Season ticket prices will be released shortly. A guarantee will be given on money paid out that if for any reason QPR merge/go bust (their words, not ours!) a full refund will be given.
8. Ray Hocking and Robert Smailes are keen to liaise with QPR 1st to maximise season ticket sales, shirt sales, etc. In turn, we welcome feedback from fans about ways that can be achieved. All ideas are valid.
9. After an initial five-year period, QPR and Wasps would, in effect, be on 12 months’ notice by the freeholder for use of the training ground and playing at Loftus Road. Obviously this is not a problem if QPR own the freehold.
10. Ray Hocking agreed to a formal Q & A ‘interview’ to be released on to this website.