Is this old news?

[andover66]

Yesterday I was told by some QPR fans that the owners have re-mortgage the ground/club so they can re claim some of the money they have invested?
Sorry if it old hat or just rubbish.

[West Acton]

I heard this about a week or so ago and it has been discussed on other websites but people with better financial minds then mine appeared to explain it in a way which suggested its nothing out of the ordinary.

Be interesting to see the clubs view on things

[Yousef]

Well there will be a lot of change at the end of the season and we will all know by then!

[QPR Richard]

Even if it had been remortgaged it can never be sold to developers because the council put a covenant on it many years ago. I would guess it would only be lifted if we built a new stadium.

[3touch]

Yesterday I was told by some QPR fans that the owners have re-mortgage the ground/club so they can re claim some of the money they have invested?
Sorry if it old hat or just rubbish.

I did a company house search and experian check and think this is very worrying. A bank has placed a charge on LR Stadium and also a debenture which is a fixed and floating charge over the company assets. It gives the bank the right to appoint an administrator if we are going bust and means that they would get paid first if anything went wrong.

Importantly though, it means although Fernandes told us we have no external debt until recently, we now definitely do have external bank debt as of about 3 weeks ago. I have tried to get comment from Fernandes, Beard and Ian Taylor but have been totally blanked. I have now passed this information onto the press in the hope that they can get answers.

I don't know why this would be because owners are trying to reclaim some of the money invested, perhaps this is being done to repay directors loans from the Mittals as it is widely rumored that they will be gone in the summer.

To summarise, we don't know why this external refinancing has been done but we know from publicly available information that it has most definitely happened and that the stadium is now mortgaged.

This question needs answering by the club.

[West Acton]

Could it be linked to developing the new training ground borrowing the money to do this??

[3touch]

Could it be linked to developing the new training ground borrowing the money to do this??

That's a possibility. Strange that Fernandes was bragging about us having no external (bank) debt until so recently when they would have known this was in the pipeline.

[andover66]

I don't care who say's what, we are going to do this and that it's all rubbish as far as I'm concerned as nothing has happened with our training ground.
I think they are all going to bale out, When a similar thing happened to us when I work in the print and I was a union official, the management told us this is for reinvestment and we had a very good outlook for the next 5 years and had nothing to worry about.
Less than two months later we all had redundancy notices and shut 6 month later.
Sorry to be a pessimist but some one is telling porkies.

[vblockranger]

Some fans view Fernandes as god and seem to believe everything he tweets but surely must recognise that the guy is not a fan and his ultimate aim is to make big money. Two failed seasons later and its only sensible that him and his backers have some kind of exit strategy in place. Wouldnt you?

[MYU]

Some people were also telling us that Gianni was only here to sell the ground.

What I'm trying to say is that, none of us know what is going on?

[3touch]

Some people were also telling us that Gianni was only here to sell the ground.

What I'm trying to say is that, none of us know what is going on?

We do know that the stadium has been mortgaged and that we now have bank debt despite being ts told very recently that we don't. That is a fact.

[BUSHRANGER1982]

At this moment in time, all we can do is take what Tony says at face value, either that, or endlessly speculate on what MIGHT be, or MAY be.
I for one, think the man is sincere.

[QPRDave]

At this moment in time, all we can do is take what Tony says at face value, either that, or endlessly speculate on what MIGHT be, or MAY be.
I for one, think the man is sincere.

Agree with you again bush......the way i see it and hope i'm right is why would he come out and say these things firstly and secondly as you say we can all jump up and down and get stressed about things if/when they happen

[Gerryhatrick]

Did I read somewhere that of all people Briatore still has part or all ownership of the stadium or the land it sits on?
Don't shoot me down, it's just a nagging bit of info from the depths of my memory, and it could of changed in the last few years, but the ownership of the stadium/land was a seperate issue from QPR holdings not long ago IIRC.