Board Writes off 60m of QPR Debt - One for the Tony bashers

[KuPR]

Says the bloke who only started supporting rangers a couple of seasons ago probably........appreciate your opinion mate so enough with the "childish" comments and appreciate mine as well. Thats all they are opinions. As for Wembley apart from the 3 0r 4 minutes i was embarrassed with the performance. We looked total sh1t. Derby far better team.

And another childish and completely incorrect insult.

You appear genuinely incapable of disagreeing with someone's opinion without adding an insult of some kind.

It's like internet forum Tourette's

[bakes8]

I've read some absolute shite before but this thread takes the biscuit.

Some people need to take a long look at themselves.

[TBLOCKRANGER]

People in a minority do not have to shout louder, they just need to have more substance to their point or be able to put it across in a better way. If all they do is respond to every positive with any old negative just for the sake of it, then their views hold less credence every time. Hence why they quickly become a "minority", as opposed to someone with a different, but equally as valid opinion.

This thread is intended to point out the fact that the owners have written off £60m of debt, not to state how wonderfully successful they have been since arriving. It was soon hijacked by those having a pop at TF & co., once again harping on about previous mistakes which they seem to have learnt from and complaining about them only being interested in a property deal, amongst other things. I think I even saw the comment that they might want it back at some point in the future. It's been written off FFS, how much clearer can that be, if you understand English?

If they were interested solely in a property deal, then only the spectacularly stupid would try to force their way in through the back door on the back of buying a football club, which judging by the costs and losses involved these days, would simply eat into any profit they make. Not much point in earning a couple of hundred million on one deal, if you are just going to have to give it away on another, particularly just to annoy a few QPR fans.

Hope that clears things up a little.

Not sure that is what was said. The amount has been written off but to say posters have said they want it back isn't fully understanding the point.
In anyone's book even the megarich £70m is a huge amount and what is being said is it may be written off in the short term but it may be recouped later. If the club say stay in the premiership and have further massive tv deals or if the land deal goes well then it isn't unforseaable or unreasonable to suggest those owners who took a hit in 2015 of £70m may recoup the cash down the line.
As previously said the Mittal family refused to up their stake of about £20m to buy the club outright as they thought tango and cash had overvalued the club thus allowing TF to become majority shareholder. However now it's argued the Mittals are happy to donate free of charge millions of pounds to QPR without ever expecting to see it again.
The reason posters are harping on about previous mistakes, is because those mistakes have directly contributed to the £70m losses that needed to be paid off to avoid an equally massive fine and other posible sanctions. Clearly the losses and past mistakes go hand in hand. If the club was better run, we wouldn't be in a position we are in. If we were a well run club we wouldn't be paying off £70m loans.
Posters on here think the write off will have zero consequences, like paying off a parking fine. The write off could in fact have huge consequences if say we get relegated such as further non activity in transfer windows, owners trying to sell the club at an inflated price, parachute payments going into their pockets to recoup write offs. Consequences could potentially be adverse to our club.
On one hand posters say don't worry we are being run by great businessmen but I don't know many businessmen who write off £70m of losses that they accrued themselves. I would love to see this pitch on dragons den.
As to posters I think both sides on this thread have been moderate, both say good that its been written off but some are simply questioning the potential future consequences which on the face of it due to the amount isn't unreasonable.

[Manx Hoop]

Very welcome news. Oh to be able to p iss away £60M. I earn good money, but, boy, how the other half live.....

Yep fair enough, but they maybe hedging.

See they may think its 60/40 70/30 we go down, spend millions in legal fees, be hated and mired in this 50 million ffp thingy, write it off, its gone anyway one way or the other, and if we knew the finer details we would probably see they have made the most financially prudent move, for THEM.

[vespa]

Not sure that is what was said. The amount has been written off but to say posters have said they want it back isn't fully understanding the point.
In anyone's book even the megarich £70m is a huge amount and what is being said is it may be written off in the short term but it may be recouped later. If the club say stay in the premiership and have further massive tv deals or if the land deal goes well then it isn't unforseaable or unreasonable to suggest those owners who took a hit in 2015 of £70m may recoup the cash down the line.
As previously said the Mittal family refused to up their stake of about £20m to buy the club outright as they thought tango and cash had overvalued the club thus allowing TF to become majority shareholder. However now it's argued the Mittals are happy to donate free of charge millions of pounds to QPR without ever expecting to see it again.
The reason posters are harping on about previous mistakes, is because those mistakes have directly contributed to the £70m losses that needed to be paid off to avoid an equally massive fine and other posible sanctions. Clearly the losses and past mistakes go hand in hand. If the club was better run, we wouldn't be in a position we are in. If we were a well run club we wouldn't be paying off £70m loans.
Posters on here think the write off will have zero consequences, like paying off a parking fine. The write off could in fact have huge consequences if say we get relegated such as further non activity in transfer windows, owners trying to sell the club at an inflated price, parachute payments going into their pockets to recoup write offs. Consequences could potentially be adverse to our club.
On one hand posters say don't worry we are being run by great businessmen but I don't know many businessmen who write off £70m of losses that they accrued themselves. I would love to see this pitch on dragons den.
As to posters I think both sides on this thread have been moderate, both say good that its been written off but some are simply questioning the potential future consequences which on the face of it due to the amount isn't unreasonable.

Another well reasoned post Tblock .
Personally i dont bother questioning the board and their motives on here anymore , its like banging your head on a brick wall .

[vespa]

Yep fair enough, but they maybe hedging.

See they may think its 60/40 70/30 we go down, spend millions in legal fees, be hated and mired in this 50 million ffp thingy, write it off, its gone anyway one way or the other, and if we knew the finer details we would probably see they have made the most financially prudent move, for THEM.

[vblockranger]

Not sure that is what was said. The amount has been written off but to say posters have said they want it back isn't fully understanding the point.
In anyone's book even the megarich £70m is a huge amount and what is being said is it may be written off in the short term but it may be recouped later. If the club say stay in the premiership and have further massive tv deals or if the land deal goes well then it isn't unforseaable or unreasonable to suggest those owners who took a hit in 2015 of £70m may recoup the cash down the line.
As previously said the Mittal family refused to up their stake of about £20m to buy the club outright as they thought tango and cash had overvalued the club thus allowing TF to become majority shareholder. However now it's argued the Mittals are happy to donate free of charge millions of pounds to QPR without ever expecting to see it again.
The reason posters are harping on about previous mistakes, is because those mistakes have directly contributed to the £70m losses that needed to be paid off to avoid an equally massive fine and other posible sanctions. Clearly the losses and past mistakes go hand in hand. If the club was better run, we wouldn't be in a position we are in. If we were a well run club we wouldn't be paying off £70m loans.
Posters on here think the write off will have zero consequences, like paying off a parking fine. The write off could in fact have huge consequences if say we get relegated such as further non activity in transfer windows, owners trying to sell the club at an inflated price, parachute payments going into their pockets to recoup write offs. Consequences could potentially be adverse to our club.
On one hand posters say don't worry we are being run by great businessmen but I don't know many businessmen who write off £70m of losses that they accrued themselves. I would love to see this pitch on dragons den.
As to posters I think both sides on this thread have been moderate, both say good that its been written off but some are simply questioning the potential future consequences which on the face of it due to the amount isn't unreasonable.

Top post again Tblock

[dsqpr]

Not sure that is what was said. The amount has been written off but to say posters have said they want it back isn't fully understanding the point.
In anyone's book even the megarich £70m is a huge amount and what is being said is it may be written off in the short term but it may be recouped later. If the club say stay in the premiership and have further massive tv deals or if the land deal goes well then it isn't unforseaable or unreasonable to suggest those owners who took a hit in 2015 of £70m may recoup the cash down the line.
As previously said the Mittal family refused to up their stake of about £20m to buy the club outright as they thought tango and cash had overvalued the club thus allowing TF to become majority shareholder. However now it's argued the Mittals are happy to donate free of charge millions of pounds to QPR without ever expecting to see it again.
The reason posters are harping on about previous mistakes, is because those mistakes have directly contributed to the £70m losses that needed to be paid off to avoid an equally massive fine and other posible sanctions. Clearly the losses and past mistakes go hand in hand. If the club was better run, we wouldn't be in a position we are in. If we were a well run club we wouldn't be paying off £70m loans.
Posters on here think the write off will have zero consequences, like paying off a parking fine. The write off could in fact have huge consequences if say we get relegated such as further non activity in transfer windows, owners trying to sell the club at an inflated price, parachute payments going into their pockets to recoup write offs. Consequences could potentially be adverse to our club.
On one hand posters say don't worry we are being run by great businessmen but I don't know many businessmen who write off £70m of losses that they accrued themselves. I would love to see this pitch on dragons den.
As to posters I think both sides on this thread have been moderate, both say good that its been written off but some are simply questioning the potential future consequences which on the face of it due to the amount isn't unreasonable.

So far as I can tell TBLOCK, you are saying that the negative consequences are that they could try to take money out of the club or stop spending to recoup their £60m or whatever. But they could do those things anyway, without first writing off £60m!

Yes, they could recoup this money if the club does fantastically well in the next few years and turns a handsome profit. But wouldn't that be a GOOD thing for everbody?! In any case, if that rosy scenario unfolds, I suspect the Board would be more interested in maximizing the value of their asset (QPR FC) than trying to devalue it by pulling money out.

I find it kind or ridiculous that people can find a way to criticize the Board for doing something that is clearly good for QPR FC just on some wild speculation about how they could turn from Dr. Jekyll into Mr. Hyde overnight. Really ridiculous.

[Kevin Mcleod]

Writing it off means writing it off and its written off and gone. Its not a trick, its not a joke, its not beadles about. Only people with hidden agendas will spin it into 'its not written off and they want it back'. Carry on agenda'ing but its falling on deaf ears with me, but if it makes you feel better then who is anyone to stop your pleasures.


"You know that tenner i lent you, forget it mate i dont ever want it back.'

Week later.

"Where's that tenner you owe me.'


Ha ha ha. like i say, carry on if its making you feel better.

[QPR Richard]

Yep fair enough, but they maybe hedging.

See they may think its 60/40 70/30 we go down, spend millions in legal fees, be hated and mired in this 50 million ffp thingy, write it off, its gone anyway one way or the other, and if we knew the finer details we would probably see they have made the most financially prudent move, for THEM.

A financially prudent move for THEM? So it's now THEM and US is it?

And there was me thinking we're ALL part of this great club....

[vblockranger]

A financially prudent move for THEM? So it's now THEM and US is it?

And there was me thinking we're ALL part of this great club....

Nope..definitely THEM and US

[West London is Rss]

Nope..definitely THEM and US

No its not them and us VBlock.. How can you even say that.

We're supposed to be together.. everyone in this club.. Your the type of rotten negative fan that isn't needed IMO. At this stage of the season everyone needs to be together.
I don't know how you can sit there and say that to be honest... Its slightly disgusted me.

You stoop to new lows.

[Kevin Mcleod]

No its not them and us VBlock.. How can you even say that.

We're supposed to be together.. everyone in this club.. Your the type of rotten negative fan that isn't needed IMO. At this stage of the season everyone needs to be together.
I don't know how you can sit there and say that to be honest... Its slightly disgusted me.

You stoop to new lows.

Dont worry mate, its only them and us to v and four others.
#WeRNotTogether

[West London is Rss]

Whatever you say about key figures at the club or whatever opinions you have of them... At this stage of the season, everyone HAS to be together.

[klonk]

Writing it off means writing it off and its written off and gone. Its not a trick, its not a joke, its not beadles about. Only people with hidden agendas will spin it into 'its not written off and they want it back'. Carry on agenda'ing but its falling on deaf ears with me, but if it makes you feel better then who is anyone to stop your pleasures.


"You know that tenner i lent you, forget it mate i dont ever want it back.'

Week later.

"Where's that tenner you owe me.'


Ha ha ha. like i say, carry on if its making you feel better.

yeah... writing £60m off is writing £60m off. the only way the shareholders could now get the money back would be to sell the club at a big profit (something that seems a bit unlikely).

whether it's a trick is a bit more debatable... i'd need to be able to actually read the books, but what i think the books will show that the shareholders have cancelled the club's liability to repay loans made during previous financial years. this is fairly straightforward when the person writing off the debt is completely independent from the company that has taken out the debt, but seems a bit murky when the person making the loan owns the company, because usually investing money into a club is recorded as 'financing' on the balance sheet and the amount invested has no impact on the profit/loss position recorded on the operating statement, whereas cancellation of liability is normally recorded as 'other income' on the operating statement and therefore has (in this instance) a huge impact on the profit/loss position (reducing the loss from £69m to, somewhat conveniently, £9m).

if this is the treatment, then the shareholders' logic is clear... it's better to write £60m off and cop for a fine of about £300k than to pay a £57m fine (presumably funded by further loans) and keep the original loan payable.

the league is in a difficult position though... if they allow us to get away with this accounting treatment, it's a safe bet that other clubs will adopt similar approaches probably involving much higher amounts (there are much worse transgressors of these rules elsewhere).