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Friday, June 15, 2007

"Flashback" to Chairman Paladini's March Comments "We Won't Quit"

Chairman Paladini, back in March declaring would be remaining at QPR - Even if Relegated

[Posted on Dave Barton's Queens Park Rangers FC Site(www.queensparkrangersfc.com )


QPR’s Italian owners will stay in charge even if the club are relegated, according to chairman Gianni Paladini.
Sliding into League One would be a disaster for Rangers and destroy Paladini and major shareholder Antonio Caliendo’s dream of owning a Premiership club. But any disgruntled fans who believe the silver lining might be regime change at Loftus Road will be disappointed, Paladini insists.
Paladini says he and Caliendo will not be prepared to cut and run if Rangers lose their Championship status. “That’s not going to happen,” he insisted.
Our commitment here means that the right thing would be to stay and keep working to make the club better - whatever division we’re in. “I believe we’re going to stay up. The players are certainly good enough. But if we were to go down then no, we would not look to sell.”
That raises the prospect – especially if Rangers are relegated – of Caliendo ploughing in more money in the form of loans. He has already done so to the tune of several million pounds. Paladini angrily denies this will eventually put the club back in the position it was in when former owner Chris Wright, whose money was similarly keeping QPR afloat, decided he’d had enough and went from bankroller to chief creditor.
That debt kept Rangers in limbo for over a year and they emerged without ownership of their training ground and saddled with a £10m loan from ABC Corporation. The annual interest alone threatens the club’s survival.
Paladini said: “I understand people being worried because of what happened before, but this is completely different. “There is no charge on the ground. There have been loans and the only way they will ever be repaid is if QPR make a profit. “If the whole thing goes caput then the people involved lose their money, simple as that.”
Paladini is under pressure after a series of problems on and off the pitch since he won a battle for control in 2005 and forced out the then chairman Bill Power and chief executive Mark Devlin. He has always been distrusted by a section of supporters and discontent appears to be growing.
During Saturday’s 2-1 defeat at Ipswich, the first audible anti-Paladini chants from Rangers fans were heard. Paladini countered: “I wish all bad guys were like me. “If this bad guy had been in charge years ago, the club wouldn’t have lost their training ground and all sorts of other bad things would not have happened. “People can say what they like. The board that were here a few years ago were bad news. They almost destroyed this club. Now we are trying to sort the mess out.
“I have had so many problems to deal with at this club and have kept doing my best since the moment I came here. “So many people said we would go into administration and it hasn’t happened. The debts have been reduced. “And I tell you this: QPR will make a profit next year – whatever division we’re in – and it will be the first time that has happened for many years. It will happen..."

Recent statements re Finances at QPR Report "Finances: Looking Forward to QPR's AGM...Looking Back at Last Year's AGM"

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