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- Past QPR Documents/Filings Available for Purchase
- APPROACHING 1,300 DAYS SINCE QPR's LAST FAN FORUM: April 27, 2007and more than Six Months Since Last Club/Fan Reps Meet.
- One Year Flashback: QPR's Superkid in Demand
- Two Year Flashback: Briatore Speaks re QPR "I Know What I'm Doing"
- Three Year Flashback: QPR Appoint Chief Scout
- VIDEO from QPR-Burnley Game
- Dundee Deducted TWENTY-FIVE Points
- Rowan Vine Returns to QPR
- As has been noted on this site on a number of occasions: "QPR's ABC Replacement Loan from Amulya: It's been more than two years since the two year loan (at 8.5%) was announced
QPR AND AMULYA LOAN
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[The Shareholders letter (as originally posted by IsleworthRanger on WATRB Site]
[Note: Marco Rapini either is a QPR Director]
FLASHBACK - This was the July 2008 Letter to QPR Shareholders:
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"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."
Wednesday, August 06, 2008
"New Loan Pushes ABC Out of the Picture"-
Ealing Gazette - New loan pushes ABC out of the picture
QPR have averted the prospect of ABC Corporation acquiring their Loftus Road ground, the club have confirmed.
ABC had the option to take ownership of the stadium if a £10m loan they made to the club’s holding company in 2002 was not repaid in full by the end of last month.
A recent letter to shareholders explained that the debt was paid by securing another £10m loan from a different company, Amulya Property Ltd, who now have a similar option to acquire the stadium in two years’ time if they are not repaid.
The interest rate on the new loan is 8.5% and Amulya has links with both Rangers’ co-owner Flavio Briatore and QPR holdings vice-chairman Amit Bhatia, whose father-in-law Lakshmi Mittal bought a 20% stake in the club last year.
The ABC loan has posed a threat to the club’s future for some time and the interest payments of nearly 11% were a major financial burden.
The loan was arranged so Rangers could come out of administration by making a payment to former owner Chris Wright, who was then a major creditor having made a series of directors’ loans during his tenure.
It also left the club with significant working capital which was used to fund the squad that won promotion from the Second Division two years later.
"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," Briatore told QPR’s website.
"I am delighted that we have now made arrangements to put this saga to an end." Ealing Gazette
August 5, 2008 - BBC - QPR complete payment of £10m loan
Queens Park Rangers have repaid the £10m they owed the ABC Corporation.
The loan was taken out in 2002 to assist the west London club in coming out of administration.
QPR Holdings Limited were required to repay £10m to the Panama-registered corporation on or before the 31 July 2008 deadline.
ABC had an option over the club's Loftus Road ground which could be exercised if the debt had not been met in full.
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 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 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
July 28, 2008 "Remembering the ABC Loan"
QPR Official Site - HELPING THE HEROES!
- Serving members of the Royal Air Force at RAF Northolt were treated to a very special night recently, when former R's legends Kevin Gallen and Marc Bircham and current Youth Development Manager Steve Gallen gave up their evening to run a special training session for the football team.
- The footballers play local Sunday League Football in the Hayes & District League and the squad is made up of service personnel who between them have done over 30 six-month tours of Iraq and Afghanistan.
- One midfielder, Corporal Gary Clarke of The Queen's Colour Squadron, has done three tours to Iraq and two to Afghanistan, with another Afghanistan tour coming up in May.
- The team recently changed its name to Northolt Shepherds FC in tribute to one of their squad members - Dan Shepherd - who was killed in an explosion in Afghanistan last year. He was awarded a posthumous George Cross for bomb disposal.
- To coincide with the team changing its name, Manager Corporal Warren Ringham - of the Central Band of the RAF - applied to over 30 local companies looking for sponsorship and Michael Beavis of Northern Motors Vauxhall, Ruislip got the team kitted out with a full kit, balls, bibs and training wear. The old kit had become so shrunken with seasons and seasons of heavy usage and washing that the socks were cutting off the blood supply to the player's feet! It was Mr. Beavis' suggestion that the Club get in touch with the Club to see about a 'Help For Heroes' type training session.
- Warren is a lifelong QPR fan and Season Ticket holder (although RAF commitments prevented him from renewing these last couple of seasons) and he played in Kevin Gallen's testimonial against the Chelsea legends. He won a charity auction to play in the match, which QPR won 6-0, and he even set up a goal and scored one himself!
- The players from QPR were only too happy to give up their time and come and put the RAF players through their paces. Steve Gallen set the whole thing up and ran the session. Players were drilled on skills, technique, tactics, shooting and finished with a match - in which QPR legends Bircham and Gallen joined in.
- Warren Ringham told www.qpr.co.uk: "It was such an amazing experience to be coached by these professionals.
- "There was great banter, superb tips and coaching and getting to play with and against them at the end was a dream come true.
- "Sharing a beer with them afterwards in our NAAFI was a surreal moment and I personally hardly slept a wink that night!
- "I want to extend my deepest thanks to the lads for coming down, everyone is buzzing after the session and even the non-R's have pledged to watch out for QPR results after the tremendous show of generosity from Steve, Marc and Kevin!" QPR
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- QPR-Burnley Reports Compilation
- Amit Bhatia Supposedly Talking about big ambitions for QPR
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