Queens Park Rangers shareholders remain focused

London club QPR

Despite the news that they borrowed £15m last month, QPR claim their shareholders remain focused for the short, medium and long term.

It is the first time during chairman Tony Fernandes’ reign as majority shareholder that the club have borrowed against the club’s assets and it has led to increased fears about the financial future.

QPR are around £90m in debt and almost certainly doomed to relegation – ten points adrift of safety with just five games left – but they insist that all is as it should be at Loftus Road.

A spokesman said: “The club’s shareholders have an ongoing relationship with Barclays and both parties were keen to extend this relationship to include QPR, particularly in light of the club’s stated plans for a new stadium development.

“Given the current financial climate, it demonstrates the clear backing banks want to give our shareholders and their plans for the club.

“The loan is personally guaranteed in full by the club’s shareholders, who remain wholly committed to the club’s short, medium and long-term objectives.”

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Article title: Queens Park Rangers shareholders remain focused

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