-
[No mention of the reported new loan to pay off the ABC loan]
QPR Official Site - ABC LOAN REPAID IN FULL
Queens Park Rangers Football Club are delighted to announce the full repayment of our £10 million loan from ABC.
The loan was taken out into 2002 in order to assist the Club in coming out of administration.
QPR Holdings Limited was required to repay the existing loan of £10m to ABC Corporation on or before 31 July 2008.
ABC Corporation had an option over the Loftus Road Stadium, which would become exercisable if QPR Holdings Limited failed to repay the loan in full by 31 July 2008.
This loan was repaid in full today. Therefore, the option that ABC Corporation had over the Loftus Road Stadium no longer exists.
QPR Holdings Limited Chairman Flavio Briatore said: "The ABC loan has been of great concern to QPR fans, and has been a noose around the neck of this Football Club for far too long.
"I am delighted that we have now made arrangements to put this saga to an end.
"Building for the future is what is important to me, and the rest of the QPR Board. However, with certain issues it is always necessary to deal with elements from the past, and today we have done this.
"This once again highlights our commitment to this Football Club, and now I am looking forward to working on the continued growth of Queens Park Rangers, both as a Club and as a brand." QPR
[The Recent Letter to QPR Shareholders:
"The company is required to repay an existing loan of £10M to ABC on or before the 31/7/08. ABC currently has an option over the Loftus Road Stadium which becomes exercisable if the company fails to repay the loan in full by 31/7/08.
The company requires financing in order to repay the loan. The company has sought to secure this financing from various financial institutions, but has been unable to do so owing to conditions and requirements of those institutions. As a result Amulya has agreed to advance a loan of £10m to the company in order to allow the company to repay the loan by 31/7/08 and thereby avoid the possibility of ABC exercising their option and acquiring the title to the stadium.
However as a condition to advancing the loan, Amulya requires the company to enter into the option. The option is on substantially similar terms to the ABC option. It grants Amulya an option to buy the stadium for £10M which is exercisable in the event the company fails to repay Amulya when the loan is due. The term of the Amulya loan is two years. The rate is 8.50% compared with ABC's 10 %.
Amulya Property Limited is a company that both Briatore and Amit Bhatia are connected with and also happens to share its name with a large Indian Property Company."
Also: "Remembering the ABC Loan"
Welcome to QPR REPORT - A completely unofficial and unaffiliated fan site focusing on G-d's Chosen Team, Queen's Park Rangers (QPR) FC. (Visit also QPR Report Messageboard and Follow on Twitter.) QPR Report accepts no sponsorship, advertising or financial contributions. In 2008, QPR Report was named as one of the top two blogs in the Football League
QPR Report Twitter Feed
Blog Archive
-
▼
2008
(1621)
-
▼
August
(154)
- Bernie Ecclestone on QPR - Not Got The Football Bug!
- Ex-QPRs in Action and Flashbacks: Wilks' Higbury G...
- QPR's Strong Draw at Bristol City - Reports and Co...
- Ten Man QPR Draw at Bristol City - Early Reports
- Teams: QPR Vs Bristol City
- Carling Cup Draw: QPR Drawn Away to Aston Villa - ...
- Previewing QPR's Visit to Bristol City
- "Lesema Can become Next Messi or Maradona"
- Snippets - Bristol City on QPR...Ben Watson?...Eir...
- Ledesma at QPR and Paladini's Response
- QPR Coach Bobby Ross Retiring - (The Amended State...
- Bristol City's Captain Snippet - "A lot of money ...
- QPR Not Rushing To Make Ledesma Signing Permanent
- QPR Snippets - Praise, Snideness and Rumour
- QPR Injury Update: Buzsaky, Vine and Hall
- Brian Glanville Perspective of QPR
- Updated: Frazier Campbell for QPR? (Newspaper Goss...
- Two QPR Birthdays...Richard Langley and Chis Day N...
- Tim Flowers NOT Yet Happy With QPR ...Nick Ward Ge...
- Carlisle-Area Perspectives of QPR Game - "United A...
- Football-Related Train Arrest Statistics
- Mahon and Ainsworth Speaking re QPR
- Dowie Would Like a Striker But Doesn't Much Expect...
- Cook Explains His Fulham Injury
- Updated - QPR's Carlisle Success - Additional Repo...
- Dowie Makes it Four Wins Out of Five - Reports and...
- Teams for QPR vs Carlisle
- Additional Carlisle QPR Previews
- QPR Snippets: Carlilse, Bowles and Masson...Lookin...
- Ian Holloway Talking About QPR's Prospects, Managi...
- QPR Flashbacks: "On This Day" - Opening Day Result...
- QPR's Doncaster Win - Additional Reports and Post-...
- Flashback: Barry Bridges Makes His QPR Debut - For...
- Terry Venables's QPR Return?...Davide Succi's Brace
- Match Reports and Comments....Comparing QPR's Star...
- QPR Vanquish Doncaster Rovers! Match Reports
- Teams: QPR vs Doncaster Rovers: Cerny Remains in G...
- Snippets - Delaney's Foreign Warning... Assessing ...
- On This Day: The Sublime (QPR's Incredible Bowles ...
- QPR Returning for Cranie Loan?...Ainsworth on Defe...
- "QPR Can be The New Chelsea" Comments of Parejo Be...
- QPR Snippets II: Doncaster's Manager on Big (Physi...
- Parejo Keeps Speaking - Compares QPR to Chelsea
- Previewing QPR vs Doncaster
- Snippets: Goalie and Ex-Captain Birthdays...Connol...
- No Salgado at Loftus Road?
- Parejo Aiming High! - "I Can Be The New Torres"
- QPR's Gavin Mahon on QPR's Foreign Loans and on No...
- Previewing Doncaster - Ex-QPR and Doncaster's Rufu...
- QPR Snippets - No Bodgani...Buzsaky Abused...Succi...
- Flashbacks: On This Day - Jim Gregory's Revolution...
- Snippets: Les Ferdinand Lauds Roy Wegerle and Ferd...
- QPR After Hajduk Split's Nikola Kalinic?....Trials...
- Ali Russell: No Near-Term Plans to Move...Ainswort...
- Damien Delaney on Playing for QPR and Ireland --- ...
- Snippets: Closed Door West Ham Friendly Ends in Dr...
- On This Day....QPR Games of Note
- No QPR-Genoa Friendly
- QPR Snippets: Managerial Sack & Promotion Odds---L...
- QPR Life Rope? Clubs Get One Extra Day To Buy Play...
- Next Up for QPR: Doncaster Rovers at Loftus Road -...
- Snippets: QPR Flops...Agyemang Recovery...Exiting ...
- "In Case You Missed It" - QPR-Related Items Over a...
- QPR's Loss - Sheffield United's Game
- Snippets: Dowie Acknowledges May Need Goalscorer.....
- QPR's Week in Perspective
- Football and Finances: Championship NOT Fourth Mos...
- QPR's Suffer Worst Loss to Sheffield United
- QPR's Loss to Sheffield United - Match Reports
- QPR's Unbeaten Record Ends as They Crash at Sheffi...
- QPR Fan Magazine AKUTRs Goes Online
- One Year Ago, QPR Appeared On The Brink...Ex-QPR S...
- Football's Richest Club Owners: #1 ...QPR's Lakshm...
- Snippets: Carlisle Response to QPR Draw....Ex-QPRs...
- Snippets: Ex-QPR Birthday...Leigertwood Assessed.....
- QPR's Next Challenge: Sheffield United
- Assessing QPR's Season Thus Far
- Snippets: Lee Cook Rubbishes Rumours...Harrow Win....
- Q&A With Dave McIntyre re QPR
- QPR Payments to Agents - Football League's Latest ...
- Football Finances Report - Survey of Football Club...
- Cup: QPR Face Club That Gave Us Stan Bowles
- Football League's Latest Agents Report is Out
- Snippets II - Simone Pavan Training With QPR....Ch...
- Carling Cup Draw Tonight
- Dowie's Selection "Problems"...Leigertwood's Desir...
- Agyemang Joins Delaney and Gorkss With an Internat...
- Snippets: QPR Player Interest...Further Swindon Re...
- QPR's 100% Start Continues! Victory at Swindon - R...
- Updated: Swindon vs QPR - Team Lineups
- Snippets: Ex-QPR Youth Ricky Sappleton Update
- Davide Succi for QPR? - "Succi: Offerta dal QPR di...
- QPR Deny Moving to Harrow
- QPR Not Yet Among the Top Clubs - World Rankings
- Swindon versus "The Chelsea of the Championship" -...
- No Ifil, No Kanyuka for Swindon vs QPR
- Making...Championship "Team of The Week"
- Snippets: A Concept QPR Could Emulate....Ex-QPRs U...
- QPR's Opening-Day Victory - Match Reports and Pres...
- QPR Interest in Chievo's Erjon Bogdani?
-
▼
August
(154)