Originally posted by Qprtanpa1
View Post
Unconfigured Ad Widget
Collapse
Announcement
Collapse
No announcement yet.
"The new qpr"
Collapse
X
-
Originally posted by brightonr View PostIn it's most simple terms, the owners issued more shares which they divided between them in return for relieving the club of any actual debt.
The actual facts that cannot be disputed are that in doing this, in addition to the £60m written off previously in an attempt to lower the losses in respect of FFP, a further £180m of debt was removed from the balance sheet.
I'm certain that nobody in their right mind would claim that our owners have presided over a hugely successful period either on or off the pitch since they arrived. But for all their mistakes in allowing that situation to occur in the first place, they have at least put it right to a degree in taking the hit themselves, rather than leaving our club saddled with the debt.
Of course, the club was unsustainable and un-sellable with that level of indebtedness and for taking the hit we have to be grateful to those concerned.
But the fact is that we are now below where we were when the whole sorry saga kicked in despite epic expenditure, and that is why people question the way the club is run. I think that's reasonable.
The most comprehensive account - in the literal sense - of TF's dealings at the helm can be found here. Recommended reading (May last year as I recall).
Comment
Comment