| 180million Write Off on 07:32 - Nov 10 with 1710 views | NW5Hoop |
| 180million Write Off on 23:44 - Nov 9 by barbicanranger |
I wasn't aware that he borrowed to buy the club? - I thought they formed a consortium and pooled their cash to invest.
If he did borrow and it was in their names then I guess the lender would ask them what security he has and he would say I own a house here, some shares here and QPR and they have a stadium in west london worth X. But there are other shareholders like the mittals that own 30% of the club and therefore the ground and it would get very i) messy if it came to Armageddon to sort that out; and ii) not sure a bank would be comfortable lending with that. But I'm purely speculating at this point as I didn't know they borrowed to buy / fund the club. |
No one rich buys big assets with their own cash. |  | |  |
| 180million Write Off on 07:35 - Nov 10 with 1699 views | JonDoeman |
| 180million Write Off on 07:05 - Nov 10 by DWQPR |
Another consideration is that with QPR Holdings Ltd now being a debt free entity it may be far more attractive to the OOC Development Corporation in terms of the club's bid to get involved with all of this and secure the land they require to build a new stadium and other facilities. Certainly the club is far more attractive as a business partner than they were as an entity with £180 million of debt. |
Yeah that's good shout, if it was FFP related they would have done it last time.
These sums would make a glass eye cry, hard to believe it won't affect us somehow. |  |
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| 180million Write Off on 07:45 - Nov 10 with 1682 views | Lblock |
High finance - you gotta love it.
Restructure, bury this and show that in a better light, divestment or divestiture and the process of pushing large sums around which are actually huge debts to one man but a valuable asset to another.
Send me a large bucket of smoke and the biggest mirrors you can carry.
However; if this works out in the favour of the good ship Queens Park Rangers FC and TF's repositioning means we are healthy and sound for the next decade or whatever (until the next lunatic steps up)... then he'll adopt legend status for me and need anointing and sainthood. If he also gets a "state of the art" training facility at Warren Farm built AS WELL then I may very well sell everything I own and corner the world market supply of rose petals and spend the rest of my life walking in front of him spreading a carpet of them for him to walk on.
For the interim I'll look on with suspicion and interest sprinkled with a modicum of hope.
The Bungle moniker could be dropped yet |  |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| 180million Write Off on 07:56 - Nov 10 with 1660 views | SuffolkHoop |
This may well be fattening the pig ready for market, but I still can't get my head around him writing off £180m...who does that? There'll be strings attached surely. |  | | |
| 180million Write Off on 08:14 - Nov 10 with 1644 views | Lblock |
| 180million Write Off on 07:56 - Nov 10 by SuffolkHoop |
This may well be fattening the pig ready for market, but I still can't get my head around him writing off £180m...who does that? There'll be strings attached surely. |
Who does that?
Someone either very shrewd or a complete lunatic with unimaginable wealth.
We'll see which. | |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| 180million Write Off on 08:30 - Nov 10 with 1619 views | superhoopdownunder |
| 180million Write Off on 07:45 - Nov 10 by Lblock |
High finance - you gotta love it.
Restructure, bury this and show that in a better light, divestment or divestiture and the process of pushing large sums around which are actually huge debts to one man but a valuable asset to another.
Send me a large bucket of smoke and the biggest mirrors you can carry.
However; if this works out in the favour of the good ship Queens Park Rangers FC and TF's repositioning means we are healthy and sound for the next decade or whatever (until the next lunatic steps up)... then he'll adopt legend status for me and need anointing and sainthood. If he also gets a "state of the art" training facility at Warren Farm built AS WELL then I may very well sell everything I own and corner the world market supply of rose petals and spend the rest of my life walking in front of him spreading a carpet of them for him to walk on.
For the interim I'll look on with suspicion and interest sprinkled with a modicum of hope.
The Bungle moniker could be dropped yet |
Yes sounds too good to be true
There must be a good reason to write off a third of your wealth
Be interesting to find out in the fullness of time - I hope my optimism and faith are warranted. | | | |
| 180million Write Off on 08:49 - Nov 10 with 1586 views | CroydonCaptJack |
| 180million Write Off on 08:14 - Nov 10 by Lblock |
Who does that?
Someone either very shrewd or a complete lunatic with unimaginable wealth.
We'll see which. |
Or someone in between! |  | | |
| 180million Write Off on 09:01 - Nov 10 with 1555 views | PunteR |
| 180million Write Off on 08:49 - Nov 10 by CroydonCaptJack |
Or someone in between! |
A shrewd lunatic.. |  |
| Occasional providers of half decent House music. |
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| 180million Write Off on 09:02 - Nov 10 with 1553 views | Mytch_QPR |
| 180million Write Off on 08:49 - Nov 10 by CroydonCaptJack |
Or someone in between! |
A wealthy shrew with unimaginable lunacy.
I reckon they'll appoint a new manager with a big bonus for promotion and if that doesn't work out they'll sell up - hence this 'tidying up' exercise on the balance sheet. |  |
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| 180million Write Off on 09:10 - Nov 10 with 1539 views | DWQPR |
| 180million Write Off on 07:56 - Nov 10 by SuffolkHoop |
This may well be fattening the pig ready for market, but I still can't get my head around him writing off £180m...who does that? There'll be strings attached surely. |
Personally I cannot see the point of this at all. Whether they sold the club with or without the debt it wouldn't matter. If the club was valued at £50 million then the sale would see the new buyer buy the club for say a nominal £1 on condition that the existing owners take the remaining £130 million of debt with them. I really feel that this is all about OOC and the owners showing their commitment for the long term in order to secure the necessary approvals. | |
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| 180million Write Off on 09:13 - Nov 10 with 1528 views | baz_qpr |
Its always more tax efficient to fund with Directors Loans and convert to equity later. However like others I suspect its clearly been done for a reason and whether that is related to the Equity release deal against the Air Asia shares with Credit Suisse or related to other accounting reasons for them or the Mittals or whether its as some suggested related to Old Oak or readying the club for sale with a clean sheet, whatever it is, its a damn good thing and I suspect they had planned to announce it either as part of a bigger announcement or at the fans forum but its slipped out due to some eagle eyed company house monitoring |  | | |
| 180million Write Off on 09:14 - Nov 10 with 1528 views | BrianMcCarthy |
| 180million Write Off on 01:47 - Nov 10 by qpr1976 |
Indeed, and yet if so, you'd think they'd be making a bit more of it officially, rather than just letting local press report it via Companies House & fans forums ?
Much as I hope you're right Brian, I remain sceptical..... |
I'm sceptical about their motives, to be honest, as they're business people first not Rangers fans. But this in itself has to be good news. |  |
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| 180million Write Off on 09:17 - Nov 10 with 1510 views | Mytch_QPR |
| 180million Write Off on 09:10 - Nov 10 by DWQPR |
Personally I cannot see the point of this at all. Whether they sold the club with or without the debt it wouldn't matter. If the club was valued at £50 million then the sale would see the new buyer buy the club for say a nominal £1 on condition that the existing owners take the remaining £130 million of debt with them. I really feel that this is all about OOC and the owners showing their commitment for the long term in order to secure the necessary approvals. |
No one with any business sense would take a Championship Club on with £130m debt - particularly with a small stadium and lack of infrastructure. You may be right, though, about the OOC project.
It's hard to work out TF at the moment - he tweeted about expectations recently as if to point out that we may have to be happy with mid-table this season. Fine, but why sack Ramsey if this was the case? | |
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| 180million Write Off on 09:23 - Nov 10 with 1501 views | essextaxiboy |
No one writes off that sort of cash without a plan to recover it with a decent return on it further down the track . |  | | |
| 180million Write Off on 09:37 - Nov 10 with 1479 views | Jamie |
| 180million Write Off on 23:44 - Nov 9 by barbicanranger |
I wasn't aware that he borrowed to buy the club? - I thought they formed a consortium and pooled their cash to invest.
If he did borrow and it was in their names then I guess the lender would ask them what security he has and he would say I own a house here, some shares here and QPR and they have a stadium in west london worth X. But there are other shareholders like the mittals that own 30% of the club and therefore the ground and it would get very i) messy if it came to Armageddon to sort that out; and ii) not sure a bank would be comfortable lending with that. But I'm purely speculating at this point as I didn't know they borrowed to buy / fund the club. |
As said, TF & Meranun are reported to have borrowed against Air Asia, which with the fall in share price has force them to look around for alternate funding.
You would imagine that the Gnanalingams borrowed against Westports and having seen the uncertainty around AA has led to Ruben stepping in and taking the reins. | | | |
| 180million Write Off on 09:44 - Nov 10 with 1365 views | SuffolkHoop |
What does the club currently receive in parachute payments, and when do these expire? We all know the new Premier League TV deal is enormous.
Is TF being pragmatic here? [Post edited 10 Nov 2015 9:44]
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| 180million Write Off on 09:46 - Nov 10 with 1357 views | DejR_vu |
You can't be anything but delighted if this is how it looks, but a couple of things spring to mind that make me a little cautious:
1) I think the ownership of the stadium was transferred to a separate company to the football club. I think that company then borrowed £40m using the stadium as security. This has always been a bigger threat to the club than the larger debt owed to the owners imo;
2) Does this mean the owners will continue to cover ongoing losses i.e. create further Director Loans?
Don't get me wrong, shifting £180m of debt has to be a good thing, but in reality once a debt gets past the £20m-£30m mark, in the context of the vulnerability of the club, it doesn't really matter if it's £100m or £750m, particularly if it's interest-free. It's Armageddon either way if the lenders pull the plug. | |
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| 180million Write Off on 09:47 - Nov 10 with 1350 views | SuffolkHoop |
| 180million Write Off on 09:46 - Nov 10 by DejR_vu |
You can't be anything but delighted if this is how it looks, but a couple of things spring to mind that make me a little cautious:
1) I think the ownership of the stadium was transferred to a separate company to the football club. I think that company then borrowed £40m using the stadium as security. This has always been a bigger threat to the club than the larger debt owed to the owners imo;
2) Does this mean the owners will continue to cover ongoing losses i.e. create further Director Loans?
Don't get me wrong, shifting £180m of debt has to be a good thing, but in reality once a debt gets past the £20m-£30m mark, in the context of the vulnerability of the club, it doesn't really matter if it's £100m or £750m, particularly if it's interest-free. It's Armageddon either way if the lenders pull the plug. |
I asked in another thread but didn't get a reply, who, specifically, owns the keys to Loftus Road? | | | |
| 180million Write Off on 09:49 - Nov 10 with 1345 views | TheBlob |
| 180million Write Off on 01:07 - Nov 10 by LazyFan |
As long as when they sell e do not get a leveraged buy out like the Glazers did with Man Utd.
For our little club this would mean the next debt would indeed not be paid off and wipe us out.
Here is hoping the Mittals make the others an offer.
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz |
Traditional innit....and governments bigger than Croatia are contemplating the same.The Chris Wright share issue effectively was a write off.
Lend us a tenner.
http://www.telegraph.co.uk/finance/economics/11383374/The-biggest-debt-write-off |  |
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| 180million Write Off on 09:57 - Nov 10 with 1333 views | DejR_vu |
| 180million Write Off on 09:47 - Nov 10 by SuffolkHoop |
I asked in another thread but didn't get a reply, who, specifically, owns the keys to Loftus Road? |
I'm not sure. I think the Directors of the company are the same as the owners.
This is pure conjecture on my part, but imo the key to recovering anything like the money they've invested is through the stadium, not the football club. They could sell the club, retain the stadium, charge an eye watering rent and if it's not paid evict the tenants (the club) and re-develop the site. With the proposed re-development of the surrounding area it would be worth a fortune.
In fairness, you can point to the way the club has been run, but the owners haven't done anything to suggest that they would do the dirty, quite the opposite if they have genuinely converted their loans to equity. But, there's a reason they divided the ownership of the club and the stadium. And they didn't get rich by being the good guy giving their money away. | |
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| 180million Write Off on 09:58 - Nov 10 with 1330 views | DWQPR |
| 180million Write Off on 09:17 - Nov 10 by Mytch_QPR |
No one with any business sense would take a Championship Club on with £130m debt - particularly with a small stadium and lack of infrastructure. You may be right, though, about the OOC project.
It's hard to work out TF at the moment - he tweeted about expectations recently as if to point out that we may have to be happy with mid-table this season. Fine, but why sack Ramsey if this was the case? |
You misread me. What I said is that if an new owner bought the club with the current debt then if the real value was £50million debt free then the existing owners would have to take responsibility for the old debt, less the sale price, I.e in this example £130million. Therefore the new owner would have a club he effective purchased by paying the old owners £50million for the debt. | |
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| 180million Write Off on 10:06 - Nov 10 with 1306 views | Mytch_QPR |
| 180million Write Off on 09:58 - Nov 10 by DWQPR |
You misread me. What I said is that if an new owner bought the club with the current debt then if the real value was £50million debt free then the existing owners would have to take responsibility for the old debt, less the sale price, I.e in this example £130million. Therefore the new owner would have a club he effective purchased by paying the old owners £50million for the debt. |
Got you - as you say, anything is possible in a business deal. No doubt the mystery will unravel in the coming weeks (?????) | |
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| 180million Write Off on 10:32 - Nov 10 with 1236 views | qpr1976 |
Bring it up at the Fans Forum anyone ? When is it ? This week or next ? | | | |
| 180million Write Off on 10:35 - Nov 10 with 1228 views | paulparker |
| 180million Write Off on 01:01 - Nov 10 by timcocking |
Nice one Tone, cheers mate.
(plenty of 'em will continue to b!tch and whine though, it's all they ever do. (The younger generation; weak as p!ss.)) |
Yeah nice one Tone
4 wasted years , terrible appointments , false promises, poor signings , "dream managers" , FFP,
We are worse of now than when he bought the club
I wouldn't trust him as far as I could throw him |  |
| And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot
That’s there that’s two, and that’s Bowles
Brian Moore
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| 180million Write Off on 10:38 - Nov 10 with 1213 views | Discodroids |
| 180million Write Off on 10:35 - Nov 10 by paulparker |
Yeah nice one Tone
4 wasted years , terrible appointments , false promises, poor signings , "dream managers" , FFP,
We are worse of now than when he bought the club
I wouldn't trust him as far as I could throw him |
what if he bought you a pint PP and threw in some nobbys nuts? |  |
| The Duke Of New York. A-Number One.
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