Skip to main content

QPR face many challenges

Another defeat for QPR yesterday and the latest set of accounts  from March, showed the club was losing around £2million ($2.4m) a month, and sporting director Les Ferdinand left his position in June and has not been replaced.  The Athletic reckons this is the sorry tale of a club stuck in an ominous downward spiral.

A big part of QPR’s problems has centred on their recruitment, namely their inability to cash in on prized assets.   Kevin Gallen, who now works as a full-time scout for Crystal Palace, says: “Recruitment in a football club is the most important thing. QPR’s recruitment over the years hasn’t been good. That part drastically needs to improve.

With QPR unable to bank a hefty fee since Eze joined Crystal Palace for £20m in August 2020, they are sailing close to breaching financial fair play (FFP) rules. This means they have little spending power to improve the squad. Under the rules, Championship clubs are allowed losses up to £39m in a three-year cycle.

In the latest set of accounts in March, QPR lost £24m. This amounts to around £474,000 a week. It showed almost £90m was still owed in various loans and player transfer instalments, as well as an outstanding settlement over FFP breaches.

However, now the Eze sale has rolled out of the three-year cycle, it will be replaced by whatever the club loses this year. Their last set of accounts showed that, apart from Eze, they have only generated a profit from player sales greater than £10m twice in the last decade.

Another stumbling block for QPR is the size of their stadium in west London. Loftus Road has been their home for more than 100 years but holds fewer than 20,000 people.   Alternative sites have been looked at for more than a decade but after exhausting the search, plans are afoot to redevelop the main stand.

While the club’s search for a new ground ended in frustration, they do at least boast a new £20m training ground in Heston. This includes seven pitches for the first team and academy.   QPR fans raised £6.8m to fund the training ground via a bond scheme. It is hoped the site will help attract and bring through the best upcoming talent.

 

 

 

 

Labels:

Comments

Post a Comment

Popular posts from this blog

It's no deal say Spurs insiders over Taiwanese takeover

Senior figures at Tottenham Hotspur insisted on Friday that they had not been informed of any deal to sell Daniel Levy’s stake in the club. A business group, Eight Sports Capital — which is said to include a billionaire Taiwanese financier — claimed that it had an agreement in place to buy a 24.99 per cent stake in ENIC, the club’s majority owners, from Levy, who owns 29.88 per cent. The Times has been told Ng Wing Fai and Brooklyn Earick form part of the group, having both been linked previously to potential takeovers of the Premier League club. The Taiwanese businessman, Richard Tsai, is also said to be part of the consortium. He is reportedly worth £7 billion.  Last year Earick, the former DJ and tech entrepreneur, was part of an attempted £4.5 billion takeover, which was “unequivocally rejected” by Spurs.  An ENIC spokesperson said: “We can confirm that neither ENIC nor THFC are aware of any sale by Daniel Levy’s Family Trust of its minority stake in ENIC, THFC’...
Post a Comment
Read more

Reports about Charlton sale exaggerated

Reports have appeared in The Guardian and elsewhere that Charlton has been put up for sale. Richard Cawley is an authoritative local journalist who runs a South London Sport substack site.  He reached out to the club yesterday evening to ask for comment on The Guardian’s article. Early indications from the club have been that nothing has changed since the story about them seeking investment, except that it is now a different company doing it. Charlton have since managed to consolidate their place in the Championship, avoiding an instant return to League One, with their women’s side promoted to the WSL, returning to the top flight for the first time since 2007, although staying there is likely to be costly. It would be counter-intuitive for owners Global Football Partners not to progress the club when looking for investment, that the focus remains on driving it forward, that their spend this summer is in line with long-term planning and will see an increase in wages spent on players...
Post a Comment
Read more

Hull City's 'strange' loan

When football finance guru Kieran Maguire seems flashing lights in a club's loan deal, I become concerned.  He is the leading football finance expert in the UK. Hull City have borrowed £55m against their stadium and training ground yet they should get £30m from the Premier League before long.  What is going on? https://www.bbc.co.uk/sport/football/articles/cpwel48y51do
Post a Comment
Read more