by Liam McConville
There is a depressing unease with which I view recent events at Loftus Road. Ever since they were promoted to the top-flight, QPR have been flirting with relegation whilst spending way beyond their means. Now under the guise of media darling, Harry Redknapp, the club are undergoing yet another splurge as they fight desperately against the drop. Relegation would be a disaster for QPR, and could lead them on a long, dark road towards oblivion.
There are several similarities between QPR and the last top-flight club to go into administration, Portsmouth. The 2008 FA Cup winners have plummeted down the divisions and another relegation seems inevitable this season. Both have relatively small grounds and like Pompey when they were in the Premier League, QPR’s wage bill is eye-watering in comparison to their turnover. Ever since Tony Fernandes bought the club in the summer of 2011, they have gone on several spending sprees, each time attempting to rapidly improve the playing squad.
On each instance they have failed, with the bills soaring each time. Whilst Neil Warnock was in charge, the club signed numerous average players such as Jay Bothroyd and Anton Ferdinand. Then in last year’s January window, Fernandes backed his new manager, Mark Hughes. The Welshman brought in a number of players, much more expensive than the summer’s recruitment, Djibril Cisse and Bobby Zamora led the way.
QPR just about scrambled to survival on the last day, this narrow escape was cue for yet another upheaval of the squad. Rangers made twelve signings, including Esteban Granero and Park Ji-Sung. Perhaps most bafflingly of all they signed both Julio Cesar and Robert Green within days of each other. Green was brought to the club expecting to be number one, and was more surprised than anyone when Cesar arrived just before the window shut. No-one can doubt Cesar’s ability (indeed his performances might even save the club’s season); however signing both shows a blatant lack of planning from the club that borders on negligence.
Despite the spending, QPR endured an abysmal start to the season, Hughes was quickly dispensed with. In one of the least surprising managerial appointment ever, Redknapp took over and has begun to see a turnaround. Redknapp has been handed a rather substantial transfer kitty. QPR blew Newcastle’s offer out of the water for Loic Remy but investment didn’t seem to be coming quick enough for the former Spurs boss.
Redknapp slammed his squad following the humbling defeat to MK Dons, and even made the unusual step of naming two goalkeepers on the bench for the game against Manchester City saying that there weren’t enough players in the squad. A cynic would be inclined to suggest that these moves were made to force Fernandes’s hand in the transfer market. Surprise, surprise today QPR have confirmed they are close to signing Christopher Samba and Peter Crouch amongst others.
This is undoubtedly a huge gamble from QPR; they are spending huge sums of money for a club in their position. The next TV deal kicks in next season, so staying in the league would be hugely lucrative even if it risks financial ruin. They got away with it last season; however they might not be so lucky this time.
The parallels with Portsmouth are obvious, let’s just hope that the end result is different.
Not an uncommon view Liam and certainly a concern.
There is however on HUGE difference between Portsmouth in 2008 and QPR today.
Tony Fernandes has pledged ongoing support even if we’re relegated and, high-profile signings apart, is investing in and building a proper infrastructure for the future – youth training, scouting, new training facilities and larger stadium.
bollocks you wanker.
The obvious difference being that based on the wealth of the owners Qpr are the 2nd richest club in the world.
Large sums of money to date have not been spent on tranfer fees at QPR. Thier short term strategy of HIGH WAGES and free transfers has for the most part, has been unsuccessful, but I think under Redknapp they will turn it around. This is not the same scenario as Portsmouth as the principal shareholders, Mssrs Fernandes and Mittal have a combined wealth of 15 billion and they are looking at the bigger picture and a long term vision. They are in much better shape now so interesting times…
“QPR have been flirting with relegation whilst spending way beyond their means.”… “they are spending huge sums of money for a club in their position.”
I don’t think you (or many others) have a clear picture of what QPR’s means are, or what their position is, but the comparisons with Portsmouth are (I suspect) jealousy and wishful thinking. Fernandes is just one of several billionaire members of a consortium, owning a majority (66%) share of QPR. The rest is owned by Lakshmi Mittal, with a net worth of around $16 Billion (or roughly two Roman Abramoviches). To say that these owners have deep pockets would be something of an understatement.
Unlike other clubs, QPR hasn’t been leveraged – old debts have been restructured or removed entirely. Meanwhile, the owners have bought a new training ground and are in the process of replacing the “relatively small ground” with a new stadium. Their significant investment has been in more than just high wages.
Compared to the owners that Portsmouth endured, this is entirely different. Even the wealthiest, Milan Mandaric, who saved Portsmouth after the first bout of administration, has a net worth of only £75 Million. Gaydamak and Al-Fahim had little money to invest, with both more interested in taking money out of the club. Al Faraj and Balram Chainrai were next, and again, had no capital to invest. Finally, Vladamir Antonov took over, was convicted of asset stripping elsewhere, and the club forced back into administration. All of these individuals put together don’t come close to the net worth of any one of QPR’s owners, nor has any of them been willing (or able) to invest.
I believe the situation you are describing changes dramatically if QPR do go down, the owners would have to sink a lot more cash into the club, just to keep it afloat, whether they’d want to do that remains to be seen, talk is cheap.
If they do stay up, I fully expect them to establish themselves as a strong top half club, however this project is reliant on Premier League status being maintained or I fear perhaps wrongly that it could very badly.
I don’t want to see any club in financial ruin and believe me I’m certainly not jealous of the huge gamble QPR are undertaking, I mean this sincerely good luck for the rest of the season.
Are QPR the next Pompey?
Sadly, I think so!
The difference between us and pompey is that they were passed from pillar to post with owners who didn’t care and just wanted to make a quick buck.
The fault for our position in the table isn’t the fault of mass spending in the summer, some of the signings we made were actually fairly good, the fault lies solely with Mark Hughes, who couldn’t manage a good squad. Even if we were to go down, admittely we’d get rid of some high earners e..g Remy, but even if many of them stayed, we’d still get parachute payments and thats not even considering the billions of Lakshmi Mittal, a man who people seem to conveniently ignore when it comes to QPR’s finances. As long as the owners are in place, QPR will be fine, and I would hope for a swift return to the premier league should the dreaded drop happen.
People also bang on about Tony Fernandes saying he will leave, however he’s more recent tweet saying the response from QPR fans has been fantastic and will stay no matter what if QPR fans want him, has also been conveniently ignored.
Very poorly researched article, made clear by the wrong information regarding the door keepers. Rob Green and Julio Cesar were not signed within days of each other, Rob Green signed very early on in July of the window, wheres Cesar signed just days before the window shut.
*two
I was aware that Green was signed before the season started so yes you’re right, perhaps ‘days’ was the wrong word there. The point still stands though it is ridiculous to bring both to the club, feel sorry for Green, clearly brought to Loftus Road on false pretenses.
as a long suffering pompey fan, you are finding out about redknapps modus operandi. his specialty is wheeler dealing and getting the best out of old warhorses. that works ok in the lower divisions and can work in the prem, but not often! ask any fan of any team HR has managed and they always love hate him. maybe except spuds
They need a new stadium before anything! It would take about 600 sell out games to pay off Sambas transfer!
http://www.telegraph.co.uk/sport/football/teams/queens-park-rangers/9844172/Queens-Park-Rangers-chairman-Tony-Fernandes-says-Premier-League-club-will-not-become-a-Portsmouth.html