QPR’s owners write off £180m
QPR’s owners have effectively wiped out the vast majority of the club’s huge debt by writing off more than £180m.
Directors’ loans worth around £180.6m have been converted to equity – a move the Rangers hierarchy say means the club is no longer liable for the debt.
Documents lodged with Companies House prompted speculation that the owners were looking to sell up.
They insist they have no plans to do so and are simply looking to place the club on a more secure financial footing.
The move could also improve the club’s chances of limiting a fine imposed for breaching Financial Fair Play regulations.
The owners announced in March that they had written off £60m, reducing the club’s losses for the year ending in May 2014 from close to £70m to just under £10m – a decision again made with FFP in mind.
Rangers’ co-chairmen Ruben Gnanalingam and Tony Fernandes will meet with director of football Les Ferdinand in Malaysia on Tuesday to discuss the club’s search for a new head coach.
27/01/2018 @ 9:24 pm
good on tf for the write off he made mistakes but has paid heavely for them not that it has helped qpr much so get shot of les and back to 442 and stick to it
25/01/2018 @ 7:10 pm
I have still not forgiven Tony Fernandes for sacking the best manager we’ve had for decades, Neil Warnock. What was he thinking? Warnock got us in the Premier League for the first time in 15 years. Fernandes knows very little about football. His tweets are just embarrassing and he should have stuck to airlines. QPR are a dying team. Well done Mr. Fernandes
24/01/2018 @ 1:25 pm
Holloway has don nothing at QPR we code be facing the drop to league 1
15/01/2018 @ 1:46 pm
Nice to know the owners are doing something with the shocking debt the club has amassed. But seriously, TF go and play somewhere else, take Ferdinand with you and that clown Holloway, your a bloody joke.
26/11/2017 @ 7:33 pm
A club who isn’t worth 2 bob and is going nowhere and has a loudmouth clown as a manager the vanarama conference is calling haha