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QPR's FFP story now in cartoon form.

Does seem odd that the QPR owners were happy to lend the club £222 million between 2013-17 (albeit at interest rates of up to 26.8% per year) but when it comes to the FFP fine plead poverty and it’s £17m spread over ten years.

I see the LEFTIES at the BBC have a DULLARD commenting on the issue. https://www.bbc.com/sport/football/44984660

EV unaffected by capital structure and as lenders and shareholders identical makes no difference

It was already lost though in all but name

They now have worthless shares instead of worthless loans as a result of the conversion. No better or worse off financially.

Tinky is BADASS

They said the £60m loan write off was a negative expense, thus reducing losses from £69m to £9m.

If the club borrowed money from the markets to allow the fine to have been paid immediately that would have been a fair rate. Manchester United were paying interest at 14.25%-16.25% on borrowings when acquired by the Glazers, 8% for a company with far lower and less predictable cash inflows, and...

That’s how you like it sweet cheeks x

If you lend £100 to someone and they earn £0 a year then you won’t receive the money back. The loans were junk, worthless pieces of paper with a nominal but no market value....just like the shares.

We’re finished, you and I.

Me too. 8% 1: Fine should act as a disincentive. I don’t this this does. 2: Agreed 3: Agreed 4: What did I predict?

From a legal perspective you’re probably right, but as QPR had zero means to repay the loans the owners have merely swapped a bad debt for a worthless piece of paper. Only impact it has on the club is it further dilutes Mittal’s (already small) share in the club. The EFL have tried to claim...

Under the latest version of FFP clubs have to send in interim accounts/ forecasts for the present season to EFL by 31 March. In theory* EFL have a full palette of sanctions including point deductions, which could be used to prevent promotion. * In practice expect the club in question...

I disagree. The £17 million is being paid out over ten years, factor in the four year delay in reaching the settlement and it has a present value cost of £8.4 million. Contrast that to the £168 million of PL broadcasting rights and parachute payments earned by QPR since promotion in 2014 and...

As some of you may know, Bozza and I run a football finance website. This is our take on how the EFL have capitulated and the winners are the accountants and lawyers http://priceoffootball.com/qpr-ffp-fine-everything-counts-in-large-amounts/