[Football] QPR Ruling

[hans kraay fan club]

Well, that article from a couple of years ago suggests it'll be more like an £8m fine, but the latest report today suggests the panel doesn't feel that a £58m fine is disproportionate, so one completely contradicts the earlier one.

I don't see how the fine can possibly be £50m+ now though, when the precedence has already been set to fine the cheats around £8m.

What's not to understand? The fines are proportional to the SIZE of the overspend.

 

[Easy 10]

It may well be more down to the £60m they tried to transfer to shares as 'income'. The FL wasn't having any of that.

So the Directors effectively wrote off £60m worth of debts, and the FL want to fine them another £60m on top of that. Presumably they're looking to force QPR into administration - not sure anyone wins with that scenario.

Not that I'm defending QPR's actions in breaching FFP, but a punishment that would potentially force a club into insolvency does seem excessive.

 

[Easy 10]

What's not to understand? The fines are proportional to the SIZE of the overspend.

QPR posted losses of £65m in the year they were promoted (before they "wrote off" a chunk) = £58m fine, or 89% of the losses
Plucky posted losses of £38m the year they were promoted = £7.6m fine, or 20% of the losses

Still looks hugely disproportionate to me.

 

[AZ Gull]

QPR are on their last season of parachute payments,

I believe they have two more seasons of parachute payments left.

 

[Murray 17]

Great, the cheats have run out of options.

Bournemouth and Leicester coughed up, but more importantly did not put a creative accounting adjustment through the accounts to cheat the rules signed up to by all clubs. QPR did.

Didn't Leicester allegedly pay a 'marketing company' millions to promote their club abroad? It was then suggested that this 'company' didn't have a phone number or email address?

 

[Westdene Seagull]

So the Directors effectively wrote off £60m worth of debts, and the FL want to fine them another £60m on top of that. Presumably they're looking to force QPR into administration - not sure anyone wins with that scenario.

Not that I'm defending QPR's actions in breaching FFP, but a punishment that would potentially force a club into insolvency does seem excessive.

But if that wasn't against the rules you could get a owner spending a billion and then writing it off and thus breaking the point of the rules. Hope they get everything they deserve. They knowingly overspent, knew the rules and yet somehow think they shouldn't be punished.

 

[hans kraay fan club]

Didn't Leicester allegedly pay a 'marketing company' millions to promote their club abroad? It was then suggested that this 'company' didn't have a phone number or email address?

That wouldn't have helped much.

I think you mean that the marketing company PAID THEM, several million pounds, for the privilege of promoting their rights overseas.

And I think that esteemed company DID have an address, too. (Dave Richards' daughter's garden shed, if I recall).

 

[Murray 17]

That wouldn't have helped much.

I think you mean that the marketing company PAID THEM, several million pounds, for the privilege of promoting their rights overseas.

And I think that esteemed company DID have an address, too. (Dave Richards' daughter's garden shed, if I recall).

Yes, that's what I meant! [emoji6]

 

[One Teddy Maybank]

According to Sky, Bournemouth and Leicester are watching closely, so perhaps they haven't paid it off.........

-40 points would be fair if you ask me, then we just need to finish above Palace.

 

[Easy 10]

But if that wasn't against the rules you could get a owner spending a billion and then writing it off and thus breaking the point of the rules. Hope they get everything they deserve. They knowingly overspent, knew the rules and yet somehow think they shouldn't be punished.

Absolutely they should be punished. But my point is that the fine seems disproportionately large when compared to Bournemouths "little miracle" in their promotion year. Both clubs cheated to go up, but one of them is getting lined up for a fine x8 larger than the other for breaching FFP. Just wondered why is all.

 

[Driver8]

Absolutely they should be punished. But my point is that the fine seems disproportionately large when compared to Bournemouths "little miracle" in their promotion year. Both clubs cheated to go up, but one of them is getting lined up for a fine x8 larger than the other for breaching FFP. Just wondered why is all.

They cheated (lost) more than PLB.

 

[Easy 10]

They cheated (lost) more than PLB.

Not 8 times more though. An (admittedly) quick Google search said QPR lost £65m, whilst the muff lost £38m.

Be good to have [MENTION=31]El Presidente[/MENTION] 's input, once he's put his special sock in the wash.

 

[Papa Lazarou]

Yes. [MENTION=31]El Presidente[/MENTION] is clearly the best qualified pwrson to talk about this. I assume he's busy on the telly or radio currently.

 

[LlcoolJ]

Absolutely they should be punished. But my point is that the fine seems disproportionately large when compared to Bournemouths "little miracle" in their promotion year. Both clubs cheated to go up, but one of them is getting lined up for a fine x8 larger than the other for breaching FFP. Just wondered why is all.

Isn't it just because QPR are in the FL and PLB and Leicester aren't at present?

 

[Easy 10]

Isn't it just because QPR are in the FL and PLB and Leicester aren't at present?

I wondered that, but PLB paid their fine to the FL whilst in the PL.



What do we want ? No more acronyms
When do we want them ? ASAP.

 

[seagullwedgee]

I’m no expert on this, but I think QPRs issue is in relation to losses in the 13/14 season, when losses were capped at £8m for that season, and AFCBs issue is in relation to losses in the 14/15 season, which is when the “£39m allowable losses over a 3 year period” came in. I guess there are many ways you can calculate the nature of AFCBs indiscretion, given that averaging rule.

 

[Thunder Bolt]

So how come QPR are getting clobbered for £58m, whilst Bournemouth were fined £7.6m for doing the same thing ?

Is it because QPR are back in the FL ? Or weren't they plucky enough ? Seems a bit unfair.

The article says they broke FFP and threw in the £60M, so broke the rules in two different ways.

Under the Football League's 2012 rules, Championship clubs were permitted losses of £8m in 2013-14, with clubs promoted to the Premier League subject to a fine if they exceeded that figure.

After a sliding scale of fines on losses between £8m and £18m, losses above £18m would be punished by a fine imposed on a strict pound-for-pound basis.

QPR's actual loss for the 2013-14 campaign, in which they won the Championship play-off final, was £9.8m.

However, then-owner Tony Fernandes, now co-chairman, and other shareholders also wrote off £60m in loans as an "exceptional item".

 

[sandfacer]

looking at the figures i have seen brighton losses in last 3 years
10.5m
24.44m
unknown
so if over 3 years you are allowed to lose 39m think brighton could be in the same boat unless they managed to stay under a 3m loss for there promotion year ? thoughts

 

[Weststander]

So the Directors effectively wrote off £60m worth of debts, and the FL want to fine them another £60m on top of that. Presumably they're looking to force QPR into administration - not sure anyone wins with that scenario.

Not that I'm defending QPR's actions in breaching FFP, but a punishment that would potentially force a club into insolvency does seem excessive.

No.

Fernandes deliberately wrote off part of the loan to the company, via the Profit and Loss Account, rather than by the orthodox football club route of capitalising the debt into share capital.

There could have been one reason, to try to bypass FFP by saying the loan write off credit was allowable football operations income.

In accounting terms that nonsense. Under FFP it's disallowed in the calculations.

Every step of the way, authorities have found it to be nonsense.

 

[Fungus]

Dismissed.

http://www.bbc.co.uk/sport/football/41736013

Nice picture of Bobby...