QPR Accounts 17/18

I have mentioned these figures in various posts over the last week and every time I see them they bring me out in a cold sweat because we are in deep doodoo. What makes things worse is that once our parachute payments disappear we are in even deeper doodoo. We are so close to becoming a dodo, extinct!

I have never heard of any business that can survive on accounts that show wages as 98% of turnover.

You can now see why at the begining of this season we had to sell Smithies and let the likes of Robinson and Onuhoa go.

With no parachute payments available next season it makes the sale of Freeman inevitable! It also means that the likelihood of extensions for players who are out of contract in June 2019 pretty slim.

I asked the question elsewhere about whether we should send Cameron, Wells and Hemed back to their parent clubs to save on their wages, however, I suspect that their contracts probably prevent us from doing this. The club knew what our wage bill was like so should the 3 of them have even been signed in the first place?

On 26th August 2017 TF sent a tweet. 

Tony Fernandes
@tonyfernandes
Club in good financial position. 7 points from 5 against good opposition.
5:25 pm · 26 Aug 2017 · Twitter for iPhone


Don't forget he has also promised a new training ground and a new stadium!

I am certain we won't go down this season BUT having read the analysis of the accounts a few times now I genuinely have no idea how we can compete next season.

We would have to sell Freeman, we will probably lose Bidwell, Hall, Wszolek and Cousins if we cannot afford to renew their contracts.

That is a recipe for relegation.

We'd be fielding a team (and this is best case scenario keeping Luongo) somewhere along the lines of:

Lumley
Kakay Furlong Leistner Hamalainen
Scowen Luongo
Osayi-Samuel Chair Smyth
Oteh

I kinda want to see that team play :-)

Only on the basis to see how far our development team has come on. I think Chair & Smyth are as good as we already have in the team.

That's a very good point, could it be that it was already agreed prior to the accounts going out. It had been rolling on for some.

If they have been making a provision and rolling things forward then that would be good news because the whole thing could now be paid off and forgotten about. Or at least forgotten about until we get another one!