Serious money saving scheme for the club

[PeterG]

so according to some here the club is losing serious money every week, no suprise there really however I think Flav and Amit could really help here

the club is paying approx 70k per month in interest to amit and flav on the 10M loan through their company

I would imagine that the 10M was not thier own money so it will be costing them interest every month but not 7% probably more like 3.5%

on that basis if they reduced the interest to what it is costing them rather than 7% it would save the club around 420k per year. just an example as I dont know the actual cost to them but makes you think.

[Quaz]

seems very logical.....but logical is not the way our board do things

[Goodfell_R`s]

this is qpr dont forget

[PeterG]

Well and that the club must be run with i keep hearing about how much is being invested by the board and that financial prudence is important.

Also bizarre to me that a company that is in debt and paying interest on loans and is to be run on financially prudent lines gives an interest free loan to an employee/director

perhaps I am missing something

[NewCrossHoop]

They could always get GP to pay his loan back ;D

[Sleeping Giants]

so according to some here the club is losing serious money every week, no suprise there really however I think Flav and Amit could really help here

the club is paying approx 70k per month in interest to amit and flav on the 10M loan through their company

I would imagine that the 10M was not thier own money so it will be costing them interest every month but not 7% probably more like 3.5%

on that basis if they reduced the interest to what it is costing them rather than 7% it would save the club around 420k per year. just an example as I dont know the actual cost to them but makes you think.

I'm not very good with interest APRs and all that but £70,000 a month is £840,000 a year which in simplistic terms is 8.4%. Since the credit crunch, the Bank of England base rate has tumbled and is currently 0.5%. Surely this would have been refinanced by now?

[PeterG]

The loan is at 7% I might be a few grand out as I have said its more the principle of the thing I am interested in.

I doubt amit and flavio are paying 7% on any money they borrowed so their company could lend qpr the 10m, so if they are concerned in the finances of the club rather than any profit they can make from lending the club money perhaps they can do something to reduce the interest that the club is paying them.

[qprmarc]

they dont care its pocket money to them.

[scottyboy007]

Clueless post!!