QPR Report Twitter Feed

Monday, April 14, 2008

QPR Holding its AGM

Today is QPR's AGM: The first of the new era (or more accurately, bringing to an end the old era.) As reported elsewhere, the recently-released accounts of course show another loss. (The Independent Rs site is the only site that has, to my knowledge, printed even any details of the latest accounts.) Further details, as they come online
[Past AGM Accounts information can be found at QPR1st and Boardroom Blues.]

Flashback to Five Years ago The Evening Standard (London) April 14, 2003
HEADLINE: QPR seeks £2m kick-start to revive flagging Fortunes

By Robert Lea QUEENS Park Rangers fans will be asked to put their hands in their pockets and raise up to £2 million for the cash-strapped Loftus Road club.QPR today admitted it racked up losses of £10 million in the past two seasons. The losses cover the 2000-01 and 2001-02 seasons, during which the club was in administration after one of the more spectacular collapses among the stock market listed football companies. It came out of administration last summer after the sale of its sister rugby club London Wasps to Chris Wright, the former QPR chairman.Financial details reveal it was rescued after a £10 million cash injection from ABC Corporation, a secretive Bahamas-based trust that loaned the money secured on the club's Shepherds Bush stadium.That enabled the club to pay off Wright, who had bankrolled QPR from his own music-industry fortune, with a £3.5 million cheque. Wright, QPR's lifepresident, wrote off a further £3.3 million owed to him and waived his rights over the stadium - on which the loans had previously been secured.Wright's controlling shareholding has been given back to the club and is waiting to be sold to a prospective buyer.In the meantime, however, QPR finance director Paul English confirmed the club is looking to sell new shares. "Given the current negative investment climate in the City it is more likely to be aimed at our fan base," he said."We are actively seeking to raise the further capital to ensure the future of the company and club."Rangers made operating losses of £3.5 million last season despite slashing the players' and management's wage bill to £3.6 million from £6.8 million the previous season, when the club made an operating loss of £6.5 million.English said QPR would make further losses this season, though the underlying performance should improve.The Second Division club gets £1 million a season from tenants Fulham."

LAST YEAR: See - QPR's June 2007 AGM Reports
QPR1st Report of AGM. Also: QPR's 2007 AGM Also Clive Whittingham/Then-QPR Rivals Report

Flashback Two Years Ago
"March 2006: QPR Holdings Ltd -AGM Report

QPR1st: "March 19, 2006 - Tracy Stent represented the interests of the Supporters Trust at the Annual General Meeting of QPR Holdings Ltd ...Tracy has produced a report of the meeting ... - QPR 1st And QPR1st's 2006 AGM Report

Previous Reports

Blog Archive