2019 Accounts
Feb 27, 2020 11:51:17 GMT
Post by northwesthoop on Feb 27, 2020 11:51:17 GMT
The QPR accounts for 2018/19 (season ending 31 May 2019) have been published and the club is heading in the right direction
A few key points:
In the next set of accounts for this season we will have reduced income from parachute payments but have the sales of Freeman and Furlong plus a greatly reduced wage bill with the exit of Bidwell, Luongo, Wszolek etc. So when it says we needed to reduce the average wage by £4000 to break even this could well have been achieved.
You can click HERE and HERE to read two different threads and see graphs and charts on Twitter
A few key points:
- QPR reduce operating losses from £22m to £12m in 2019
- the salary to revenue percentage is almost at a sustainable level with only £69 out of every £100 being spent on wages.
- Overall some good news hidden in the profit & loss figures. Turnover up 10% on the back of higher parachute payments, Cost of sales down 19% and a £2.5m profit on player sales.
- QPR do have cash in the bank but technically insolvent & reliant on owners to carry on trading. Losses over the years exceed £287 million
- QPR still in receipt of Parachute payments which made up 64% of income in 2019. The figure of £22m will drop to £7m in 2019/20
- QPR wage bill Down 25% in 2019 as the club prepares for life without Parachute Payments and eliminates big earners from wage bill
- QPR spent no money signing players in 2018/19 and had sales of £3.9 million (mostly Smithies)
- QPR average wages £11k per week last season, relatively low by Championship standards where the average was £16k a week. To break even average wages would have to fall another £4,000 a week.
In the next set of accounts for this season we will have reduced income from parachute payments but have the sales of Freeman and Furlong plus a greatly reduced wage bill with the exit of Bidwell, Luongo, Wszolek etc. So when it says we needed to reduce the average wage by £4000 to break even this could well have been achieved.
You can click HERE and HERE to read two different threads and see graphs and charts on Twitter
