| Tony Fernandes leaves the club 09:02 - Jul 10 with 19422 views | kingsburyR |
Now what? |  |
| Dont know why we bother. .... but we do! |
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| Tony Fernandes leaves the club on 14:25 - Jul 10 with 3656 views | Rangersw12 |
| Tony Fernandes leaves the club on 13:52 - Jul 10 by Sonofpugwash |
What,Richard "Cheveley Park Stud" Thompson who asset stripped the club?
Do me a favour. |
At a time aswell where all it needed was minimal investment and we could have challenged for the league |  | | |
| Tony Fernandes leaves the club on 14:28 - Jul 10 with 3621 views | BostonR |
| Tony Fernandes leaves the club on 14:23 - Jul 10 by Blue_Castello |
Me neither the debt that has been incurred has been converted into shares and the owners have absorbed the debt, it's true they have lost millions keeping the club afloat.
Well at least that's my understanding of the situation, one of our accounting fans will clarify. |
It’s certainly nowhere near £BN’s. I might align with say £25M from the current statement and perhaps liabilities of say £80M owed over time. |  | | |
| Tony Fernandes leaves the club on 14:29 - Jul 10 with 3613 views | rbee |
| Tony Fernandes leaves the club on 14:24 - Jul 10 by Antti_Heinola |
Mark, is that you? |
It's true. |  | | |
| Tony Fernandes leaves the club on 14:34 - Jul 10 with 3556 views | Hayesender |
I'm glad he's gone, but the pessimist in me is wonderingn if Les, and now Fernandes have jumped ship before some s@%t hits the fan? |  |
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| Tony Fernandes leaves the club on 14:42 - Jul 10 with 3500 views | QPR_Jim |
| Tony Fernandes leaves the club on 14:03 - Jul 10 by rbee |
One of his biggest mistakes was bringing in Mark Hughes and then signing players that Hughes didn't want!
I know what you are saying about us being a London club but we are in debt and the Profit and Sustainability Regulations severely restrict any investment in the club. |
Not very meticulous of Mark then was it? |  | | |
| Tony Fernandes leaves the club on 15:01 - Jul 10 with 3393 views | andrew1302 |
We are where we are today because of his ego. Just loved being the centre of media attention. Who knows if the club will survive his recklessness as if this season goes the way many fear Ruben may decide that is enough. Fernandes was i think the worst of all of our owners since Gregory when i started supporting. Some were pretty awful but Fernandes blew our chance to be a Brighton, Brentford or now a Millwall or Luton. Frankly good riddance. | | | |
| Tony Fernandes leaves the club on 15:42 - Jul 10 with 3214 views | joe90 |
A crazy chapter in QPR’s history is over.
Tony got mugged off big time, but fair play to him for sticking around and trying to sort it.
As much as he’s screwed us I still think there are plenty of clubs in far worse positions. At least our owners have built a new training ground and got rid of that horrible crest.
It’s going to be an interesting season. It feels like we’re gearing up to be a competitive and sustainable league 1 club. Wouldn’t be the end of the world, might actually be the spring board we need? |  | | |
| Tony Fernandes leaves the club on 15:54 - Jul 10 with 3146 views | traininvain |
| Tony Fernandes leaves the club on 14:34 - Jul 10 by Hayesender |
I'm glad he's gone, but the pessimist in me is wonderingn if Les, and now Fernandes have jumped ship before some s@%t hits the fan? |
Yep. Out of the frying pan and into the fire we go. |  | | |
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| Tony Fernandes leaves the club on 16:27 - Jul 10 with 3008 views | Benny_the_Ball |
I'm not in the least bit surprised. Over recent years Tony's shareholding and influence at QPR has been steadily diluted, and his core business, Air Asia, has experienced turbulent times. Lest we forget, Tony lost his spot on the QPR board some time ago. He was replaced as chairman in 2018 by Amit, and removed from the top table altogether. That suggested to me that Tony's peers had lost confidence in him. Given the rollercoaster ride under his stewardship, I can't say that I blame them.
It's difficult to draw firm conclusions on the future direction of QPR until we know exactly who Tony has sold his stake to. There's a reasonable assumption circulating on this message board that Ruben has absorbed Tony's shareholding, however this is yet to be officially confirmed. With Richard Reilly in the mix, it'll be interesting to see what the final shakedown looks like, and to hear their vision for the club.
In the meantime, it's safe to say that today's news marks a watershed moment for QPR FC. I only hope that it proves to be a catalyst for stability and success in the long term. [Post edited 10 Jul 2023 16:28]
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| Tony Fernandes leaves the club on 16:37 - Jul 10 with 2947 views | TheChef |
| Tony Fernandes leaves the club on 14:03 - Jul 10 by rbee |
One of his biggest mistakes was bringing in Mark Hughes and then signing players that Hughes didn't want!
I know what you are saying about us being a London club but we are in debt and the Profit and Sustainability Regulations severely restrict any investment in the club. |
Er, I thought most Hughes signings came through his mate Kia Joorabchian? |  |
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| Tony Fernandes leaves the club on 16:48 - Jul 10 with 2866 views | Ranger_Things |
| Tony Fernandes leaves the club on 09:27 - Jul 10 by BazzaInTheLoft |
Les, Fernandes, and probably Hoos out.
Lots of us getting exactly what we wanted. Sunlit uplands ahead I’m sure. [Post edited 10 Jul 2023 12:09]
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These are not the sunlit uplands I voted for. |  | | |
| Tony Fernandes leaves the club on 17:05 - Jul 10 with 2780 views | stowmarketrange |
| Tony Fernandes leaves the club on 09:51 - Jul 10 by dmm |
So who's bought Fernandes' shares? |
Somebody who had £9 in cash? |  | | |
| Tony Fernandes leaves the club on 17:26 - Jul 10 with 2705 views | Northernr |
| Tony Fernandes leaves the club on 13:44 - Jul 10 by Lblock |
Question for ya
If he "paid financially for them" why is the club approaching half a billion pounds in debt? |
It's not. |  | | |
| Tony Fernandes leaves the club on 17:32 - Jul 10 with 2680 views | VancouverHoop |
Gnanalingam and Reilly both have MLS interests. I wonder if there's a future player pipeline in the making? | | | |
| Tony Fernandes leaves the club on 17:43 - Jul 10 with 2615 views | stainrods_elbow |
| Tony Fernandes leaves the club on 11:41 - Jul 10 by Nov77 |
This. Like les, can see what an almighty shitshow this season is going to be, getting out now to escape the flak and before his shareholding becomes worthless. |
That's my ominous sense of it too - whatever TF has/hasn't done to/for this club.
The portents are certainly not promising, what? |  |
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| Tony Fernandes leaves the club on 17:47 - Jul 10 with 2599 views | stainrods_elbow |
| Tony Fernandes leaves the club on 12:17 - Jul 10 by Yorkshirehoop |
I believe Tony genuinely tried his best and one would imagine he is seriously out of pocket.
Why should he keep pumping money into the club when it's going down the sinkhole ?
His biggest mistake was bringing in Mark Hughes and allow him to run the club like we were Real Madrid.
The best club owners are the ones you never hear from buy keep the club ticking over.
I know we didn't have social media in the early 90s but Richard Thompson ran our club as a sustainable business, I don't think anyone can argue with that.
Chris Wright could have bankrupt the club with his panic buy signings, Mike Sheron
Being the biggest example.
As for the silver fox Briarore, he made us a laughing stock.
The best thing he came out with on that documentary was "tell me who the fans are that are booing or I'll sell the club".
The soap opera that is our football club is in a perverse way one of the reasons we keep coming back.
I've got a feeling that Ruben will be looking to sell up, yet despite our current plight we will be an attractive draw to someone what with us being a London club. |
As for Richard Thompson and 'sustainable business practice', give me a break! Stripped the club's assets (Seaman, Parker, Sinton, Wegerle, Ferdinand, Peacock et al.) and presided over our fall from top London club (remember thatr, folks?) to relegation - which was great for 'business', I'm sure.
Somtimes I wonder why fans are fans at all! | |
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| Tony Fernandes leaves the club on 17:58 - Jul 10 with 2566 views | rbee |
| Tony Fernandes leaves the club on 16:37 - Jul 10 by TheChef |
Er, I thought most Hughes signings came through his mate Kia Joorabchian? |
So did I and loathed Hughes for it. But a chat a few years ago with a certain journalist based in West London put me in the picture. | | | |
| Tony Fernandes leaves the club on 18:13 - Jul 10 with 2511 views | Boston |
| Tony Fernandes leaves the club on 10:26 - Jul 10 by Northernr |
US I think, but was at the training ground opening last week. |
Boston, well an abutting community.
Edit...though I hear his real home is actually in Beverly Hills, LA.
[Post edited 10 Jul 2023 18:56]
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| Tony Fernandes leaves the club on 22:36 - Jul 10 with 2156 views | thehat |
For the first time in many years we are seeing a change that may get a lot worse before it gets better. Tony is the first of the owners to bail out and hand his shares back to club and no longer has any responsibility for covering our losses. This means the remaing owners now have to cover Tony’s share too. Lets hope they remain interested and have very deep pockets! | | | |
| Tony Fernandes leaves the club on 22:46 - Jul 10 with 2114 views | Lblock |
| Tony Fernandes leaves the club on 17:26 - Jul 10 by Northernr |
It's not. |
Okay
Comment withdrawn and then re-stated with a caveat
According to Swiss Ramble "QPR gross debt rose £9m from £53m to £62m, including £55m from the owners (£46m loan plus £9m convertible bond issued to Ruben Gnanalingham's wife) and £7m EFL loan. Would have been much higher without capitalising £232m loans (£17m last year) and writing-off another £60m"
So if you add up the £62M, the £232M and the £60M we're actually (at the time of those accounts) £354Mill down the gurgler.
You can dress up loan conversions, write off's and capitalisations however you want, as many on this 'ere board have said -- if you're selling you want your cash back and I'm feeling the figure is fast approaching £400mill ergo rapidly half a bloody billion.
Drink that in.
That's little old QPR who own their ground. That level of spend/debt with virtually nothing but a "almost brilliant" training ground to show for it.
The man has been ruinous, absolutely ruinous. He's sort of been the destroyer of a lot of my love for the club and football in general.
Don't hurry back Bungle. |  |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| Tony Fernandes leaves the club on 22:53 - Jul 10 with 2104 views | VancouverHoop |
| Tony Fernandes leaves the club on 22:36 - Jul 10 by thehat |
For the first time in many years we are seeing a change that may get a lot worse before it gets better. Tony is the first of the owners to bail out and hand his shares back to club and no longer has any responsibility for covering our losses. This means the remaing owners now have to cover Tony’s share too. Lets hope they remain interested and have very deep pockets! |
Gnanalingam and Bhatia (via his FiL) have very deep pockets indeed. | | | |
| Tony Fernandes leaves the club on 22:55 - Jul 10 with 2096 views | Yorkshirehoop |
| Tony Fernandes leaves the club on 17:47 - Jul 10 by stainrods_elbow |
As for Richard Thompson and 'sustainable business practice', give me a break! Stripped the club's assets (Seaman, Parker, Sinton, Wegerle, Ferdinand, Peacock et al.) and presided over our fall from top London club (remember thatr, folks?) to relegation - which was great for 'business', I'm sure.
Somtimes I wonder why fans are fans at all! |
Are you serious mate ?
QPR finished top London club under Thompson, 5th in the premier league then the following season 8th, proper shocking that for the giant we are.
The reason we got relegated is simple, that 6 million we got for Ferdinand should have been used as a direct replacement.
Not a cluster of players like Ned Zelic,Simon Osborn and Mark Hateley.
Ray Wilkins poor transfers cost us not the chairman.
Newcastle lost Andy Cole to united and replaced him like for like.
We didn't do that with Ferdinand and that's what cost us.
Our first relegation from the premier league we couldn't score goals. | | | |
| Tony Fernandes leaves the club on 23:59 - Jul 10 with 2012 views | BostonR |
| Tony Fernandes leaves the club on 22:46 - Jul 10 by Lblock |
Okay
Comment withdrawn and then re-stated with a caveat
According to Swiss Ramble "QPR gross debt rose £9m from £53m to £62m, including £55m from the owners (£46m loan plus £9m convertible bond issued to Ruben Gnanalingham's wife) and £7m EFL loan. Would have been much higher without capitalising £232m loans (£17m last year) and writing-off another £60m"
So if you add up the £62M, the £232M and the £60M we're actually (at the time of those accounts) £354Mill down the gurgler.
You can dress up loan conversions, write off's and capitalisations however you want, as many on this 'ere board have said -- if you're selling you want your cash back and I'm feeling the figure is fast approaching £400mill ergo rapidly half a bloody billion.
Drink that in.
That's little old QPR who own their ground. That level of spend/debt with virtually nothing but a "almost brilliant" training ground to show for it.
The man has been ruinous, absolutely ruinous. He's sort of been the destroyer of a lot of my love for the club and football in general.
Don't hurry back Bungle. |
You are wrong and totally misinformed. It’s not dressing up - it’s called financial accounting. As of today (and in your language) the club is about £90M in the hole of which about £24M is a challenge and it’s all on Ruben. | | | |
| Tony Fernandes leaves the club on 04:42 - Jul 11 with 1905 views | SydneyRs |
| Tony Fernandes leaves the club on 14:25 - Jul 10 by Rangersw12 |
At a time aswell where all it needed was minimal investment and we could have challenged for the league |
Absolutely, we were not far away at all from being genuine contenders back then. | | | |
| Tony Fernandes leaves the club on 19:41 - Jul 11 with 1456 views | Benny_the_Ball |
| Tony Fernandes leaves the club on 22:36 - Jul 10 by thehat |
For the first time in many years we are seeing a change that may get a lot worse before it gets better. Tony is the first of the owners to bail out and hand his shares back to club and no longer has any responsibility for covering our losses. This means the remaing owners now have to cover Tony’s share too. Lets hope they remain interested and have very deep pockets! |
I think it's more a case of Tony having to bail out than wanting to. He cost his co-owners millions with poor decisions that ultimately resulted in his shareholding being diluted and losing his seat on the QPR board. It says something that in 2018 he was replaced as Chairman by Amit, a man who represents someone with a mere 3% stake.
On top of this, Air Asia (and, indeed, the airline industry in general) has experienced some tough times in recent years. It appears Tony is diversifying the business away to reduce reliance on airfares for income. Rebuilding the business will require all of his energy. | | | |
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