Accounts are in

QPR accounts are in.
We made a loss of £11.9 million in 2019. the season we are writing off in the three year roll over was £22 million.

Our wage bill is cut by 25%, to about £11,500 per week, 4th lowest in the division.

I'm still waiting for those cleverer than me to say whether it's enough..I'm guessing it is

 

In that season we bought no one...but got £3.9 million in sales which must be for Smithies.
That is good money for a reserve goalie whi sits on the bench

 

Just heard on news that CoVid19 likely to wipe out profits for many airlines especially the Asian ones. Bad news for TF and us.

 

Depends what you're hoping it's enough for!

Keeping us FFP compliant? I think so.

Putting us on a sustainable footing? No, but a large step in the right direction.

Meaning we don't need to sell Eze / BOS? Alas no.

I think the next set of accounts will be all the more impressive, with greater ££ from sales, lower wages again, but, crucially, with better football on the pitch!

 

11.500 per week
That's only about 600 quid per first team player a week

 

I'm pretty sure the FFP is okay.
Yes the next one will be better still as we still didn't by anyone (except £60k for Kelly,) and sold a few (Freeman, Furlong, Smith etc) got big earners off the wage bill (Bidwell, Cousins etc

 

I think that is average per player.

 

Average wage.

That's still a lot of money...but small compared to others

 

That’s less than saracens

 

Any clue as to how we are covering the loss? Are the shareholders still giving/loaning us money or are we getting it from banks? I assume that we don’t have unlimited lines of interest free credit. Even though the loss is reduced we are still in the position presumably of increasing the overall debt, which is impossible to pay off without long term access to the PL pot of gold........it’s actually a very fragile position, but we are far from being alone in this broken business model. We might be ok re FFP but not as business.

 

Reading could be in trouble.

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Agree. Football success seems to be how small your losses are. Ridiculous business model. While many leeches squeeze their own profits from the prize carcass called football.

 

Heres one for Watford.

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To be fair, that is a significant effort by the board to get us to that point (OK, after they put us in the **** with a catalogue of mistakes).
There are some teams that sit very precariously in the table without windfall monies. I wonder which threw even more into their pot last season for the big gamble. And will they be punished comparably with how we were? I doubt it.

 

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Our overall debt is actually significantly reduced in these accounts as the owners had to concert a lot of debt to equity as part of / ahead of the FFP settlement.

That said, there was a new loan in 2019 of £11.4m from the owners, interest free (for now).

 

“The Super Hoops had the third lowest wages to income percentage in 2019, paying out £69 in wages for every £100 of income, average for division is £106. This is expected to rise in 2020 as income falls.”

 

Yup. This year will be remarkable on paper as, fingers crossed, we will improve our league position, football, and squad, while saving a ton of cash.

The next year will then account for any sales this summer.

So (I stand ready to be corrected) we're through the worst of the belt tightening, but that sadly doesn't mean we'll have much ££ to spend.

 

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