Qpr -efl

[millertop]

An arbitral panel on the 19 October 2017 dismissed Queens Park Rangers (‘QPR’) claim that the English Football League’s 2012 Financial Fair Play Rules (‘FFP Rules’) were unlawful under Competition Law and also found that the fine of £41.965m for failing to comply with the Rules was not disproportionate.

QPR lodged an appeal against the decision and the appeal was due to be heard in London on the 2 July 2018 before a new panel.

Following extensive discussions between the parties the Appeal has been withdrawn and the dispute settled on the following terms:

A Fine of £17.0m
QPR to pay the EFL’s costs of £3.0m
A transfer embargo in the 2019 January Transfer Window
The Club’s shareholders will capitalise £21.965m of outstanding loans.
A time to pay schedule has been agreed between the parties.No part of the payments to the EFL will be taken into account when calculating QPR’s future Profitability and Sustainability results.

EFL Chief Executive, Shaun Harvey said: “The outcome vindicates the approach of the EFL Board in defending the challenge to our Rules.

[BramleyMiller58]

Points deduction would be nice !

[Redshank]

Points deduction would be nice !

Exactly. Hit them where it really hurts
The whole thing is a joke as parachute payments for their one season in the Prem will massively outweigh the fine. When all the dust has settled, QPR will take the view that their decision to blatantly break clear EFL rules was well worth it.

[Silly-miller]

Exactly. Hit them where it really hurts
The whole thing is a joke as parachute payments for their one season in the Prem will massively outweigh the fine. When all the dust has settled, QPR will take the view that their decision to blatantly break clear EFL rules was well worth it.

They should have been prevented from joining the premiership in the first place.

[Silly-miller]

21 million to be paid over 10 years lol what a scam

[PerigordMiller]

Very difficult I would think Silly. I don't know the rules exactly but I assume you have to calculate expenditure over a full season (not financial year?) against income for that season, so it would be after the event.

Similarly a points deduction the season after (in the premier league) would only have had the same result, and they would still have benefited from that season plus parachute payments. Maybe a points deductio after they have come back down, but then again what if they had stayed up.

Plus as I understand it (not that much), their balance sheet is better having less liabilities, because the club don't have to pay back owners' loans?

I think Redshank is right they are probably better off financially by breaking the rules. It needs sorting.

[Rothbiz]

QPR have posted losses of £221m since Tony Fernandes took over in 2011 if you discount the £60m loan write-off.

[wrinkly]

Stinks to high heaven imho.

Despite absolutely clear ffp rules QPR cheated their way into the prem in 2013-2014.
Maximum loss allowed was £8m. QPR, with a wage bill of £74m - I believe only 7 prem clubs had higher wage bills, managed a £70m loss. If they had not been relegated back to the Championship the EFL would have had no power to touch them.

The amount of the fine due , over £40m, was undeniable (except QPR tried to - with a ridiculous accounting wrangle)

QPR's share of TV money alone for their one year in the prem was £65m.

They are still overspending and still in loads of debt.

£42 million settlement with the EFL? Hardly. The fact that the owners are writing off £22m loans to the club hardly benefits the EFL. Although the club no longer owes this money to the owners doesn't mean they won't be able to take money out in other ways does it?

QPR should have been hammered. They have negotiated a relatively tiny slap on the wrist (administered in 10 small doses so it doesn't hurt too much)

[millertop]

Stinks to high heaven imho.

Despite absolutely clear ffp rules QPR cheated their way into the prem in 2013-2014.
Maximum loss allowed was £8m. QPR, with a wage bill of £74m - I believe only 7 prem clubs had higher wage bills, managed a £70m loss. If they had not been relegated back to the Championship the EFL would have had no power to touch them.

The amount of the fine due , over £40m, was undeniable (except QPR tried to - with a ridiculous accounting wrangle)

QPR's share of TV money alone for their one year in the prem was £65m.

They are still overspending and still in loads of debt.

£42 million settlement with the EFL? Hardly. The fact that the owners are writing off £22m loans to the club hardly benefits the EFL. Although the club no longer owes this money to the owners doesn't mean they won't be able to take money out in other ways does it?

QPR should have been hammered. They have negotiated a relatively tiny slap on the wrist (administered in 10 small doses so it doesn't hurt too much)

Absolutely stinks to high heaven, things like this **** me off but I’m trying to keep calm about things I can’t do anything about.

[Acido]

This is an absolute disgrace but are any of us really surprised, didn't we know they/QP.Rangers would just end up getting off lightly.
Bournemouth also got away with it after only paying half of that fine, despite raking it in during their few years in the Premship. And Brighton racked up appalling debts in their chase to go up, and now they are earning all that back and with interest. And don't even get me started on these relegated teams deserving 3 years of so called parachute payments!.
It stinks and its getting worse every year, but what can clubs like ours do about it ?.