QPR ISSUES

Chairman Bill Power Profiled

Power behind QPR By Ian McCullough The Irish Post - Date ??? (NOT just-published, but within the last year)http://www.irishabroad.com/news/irishpost/sport/powerbehindqpr.asp

It has often been said, usually in dreamy tones, by many a football supporter, that they would give money to the club they love and support when they win the lottery. London Irishman Bill Power is someone who has fulfilled the first part of that dream although the money he has invested in Queens Park Rangers is his very own hard-earned cash and not the type made by buying a lucky dip ticket from the local supermarket. While London football is now dominated by the nouveau-riche Chelsea courtesy of the billions of Russian oil magnate Roman Abramovich and the charismatic, free-flowing on their day, but enigmatic Arsenal under Arsene Wenger, there was a time when QPR were the talk of the capital. At a time when Irish emigration to London was rife during the late 1960s and through to the ’70s, many settled in west London areas such as Hammersmith, Shepherds Bush, Kensal Rise and Greenford and the team whose ground sits just off the Uxbridge Road became the focal point for a many of the new settlers in the capital and their offspring. Power, the son of Wexford parents and an Irish passport holder, was one of the many who were hooked by players such as Rodney Marsh, Les Allen and Mark Lazarus lighting up the pitch that the youngster could see from his bedroom window overlooking Loftus Road from the White City Estate adjacent to the ground. Forty years on and with memories of Marsh, Stan Bowles, Don Givens, Gerry Francis, Les Ferdinand et al, just that, Power stepped in to help out the club that had been such a huge part of his life. Less than 10 years after finishing as top London club in the Premiership, Rangers were on the brink of going out of business as they slipped into the third tier of English football for the first time in 40 years. Years of fecklessness both on and off the pitch had taken the club into administration and the only way it was able to get itself out of the parlous situation was by taking out an ill-advised £10million loan with a little-known Panamanian company ABC Loans. The repayments were costing the club £1m-a-year in interest alone and after failure to reach the old First Division after a play-off final defeat by Cardiff, the club spent the whole of last season on the verge of slipping back into administration despite an average gate of 16,000 and record season-ticket sales. Various parties had expressed an interest in putting money into the club, but to no fruition. The reluctance of former chairman Chris Wright to sell his shares to interested parties despite having declared he was no longer interested in the club proved a stumbling block and QPR needed investment ASAP. Step forward Power, a season-ticket holder of over 20 years and an electrician who made his money by setting up [a] Datasat, a Satellite communication company. Among their clients are governmental departments from numerous countries, including Ireland’s Department of Foreign Affairs and the Buckinghamshire-based company are now among the world leaders in their field. “It was a complete stroke of luck that I got into the business,” he admitted. “I was working as an electrician and I had just moved into a new house and a new family moved in next door and Phil Emmel, who is now my business partner, asked me if I could have a look at some circuit plans for a job he was about to embark on. “He then asked me to help him out on a few jobs abroad and shortly after we set up the business and were very fortunate just getting in at the right time and we have done well to get where are, thanks to some hard work.” While business was booming for Bill, the team he followed was not. A family called the Wintons had bought two players for the cash-strapped club so Bill made a phone call to QPR’s former chief executive to offer some further help and ask about the possibility of purchasing another player. He explained: “Apart from my family, QPR have been the biggest part of my life and something I have dedicated a great deal of my time and support to. “So I picked up the phone and couldn’t believe it when I was put straight through to chief executive David Davies. “I made an initial investment of £200,000 which was accepted and was invited to sit in on a couple of board meetings, but I realised shortly after that there were a few things that didn’t make sense. “There were some steps being taken that were costing us more money than was being brought in, like planning to install a whole new computer network with new equipment for staff, and bringing in even more personnel to an already oversized staff.” In addition to Power an Italian former football agent Gianni Paladini had also become a shareholder along with another London Irishman Kevin McGrath — a senior partner in an asset management company in the City. With the club losing money hand over fist, a number of changes had to be made with the first being at the top where senior staff were ousted followed by a number of redundancies. “Basically I had put my money into the club which was gratefully received but I was being ignored and decisions were being made without my knowledge,” said Bill. With the new board in place, Power was asked to become chairman of the club. “It was a great honour to be asked to be chairman and something myself and my family are very proud of but not something I ever envisaged or was aspiring for when I made that phone call last year.” So with the club’s long-term future looking far rosier than 12 months ago after a tax bill was paid off in the summer and investment being made in players and money available to manager Ian Holloway to spend, optimism is high in W12 after a respectable return to the Coca-Cola Championship. “I am very confident that we will be back in the Premiership within three years. We have a very long way to go at the moment but we are making the right progress,” he said. “The loan is still a major millstone around our necks and we looking to get a plan agreed to re-structure the payments as at the minute and hopefully that will be resolved. “We are also very close to securing a site for a new training ground. This will not come out of club funds and will be a gift to the club and a sign of our intentions. “Myself, Kevin and Gianni are not in the Abramovich mould, none of us have money to chuck away, but we all believe in what we are doing and, hopefully, that will see us back where we feel we belong.” http://www.irishabroad.com/news/irishpost/sport/powerbehindqpr.asp



AGENTS FEES

QPR's Devlins Explains QPR's Agents Fees
QPR OFFICIAL SITE - AGENTS FEES"... Although only four Championship Clubs spent more on the service of agents, QPR can boast the highest amount of new transfers in the Championship over the year with 29. Rangers also had the second highest number of total transactions with 57..."... We've been involved in a high number of new and renewed contracts, as well as the termination of others....agents are involved in players leaving the Club as well as joining us.".... There were also a lot of players last summer who needed their contracts renewing."Over this time we've been building a squad that could compete in the Championship and to a certain extent towards the latter part, in the Premiership."... "We've recently signed a player on a three year deal and his agent's payment will be spread over that time period, but the entire lump sum will show up in these figures even though it isn't due all at once."As a Club, our policy is to utilise agents, and therefore reduce the amount we pay in fees, as little as possible, .... there will be times when we have little alternative than dealing with their agents." Our job therefore is to find a balance between bringing these players in and keeping the money spent on agents fees down. ...Click below for the complete Agent's Fee run downAgents FeesFull Article:http://www.qpr.premiumtv.co.uk/page/News/NewsDetail/0,,10373~688944,00.html


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QPR committed £320,935 to Agents From July 1, 2004 to June 30, 2005 - Football League's "Agents' Fees Report" for 2004-2005
Football League Report on Football Agents - Summaryhttp://www.football-league.premiumtv.co.uk/page/NewsDetail/0,,10794~688119,00.htmlComplete Agents Fees Report can be read athttp://www.football-league.premiumtv.co.uk/staticFiles/44/b/0,,10794~2884,00.pdf"Highlight re Championship" • In The Championship there were 888 (417) player transactions, 222 (24.9%) (71 – 17%) involving the use of agents; • Clubs committed to spend a total of £6,834,963 (£1,947,295) on agents’ fees during this 12-month period; • Of this total, £5,229,320 (£1,826,295) was committed to be paid to agents by the signing club and £1,605,643 (£121,000) committed to be paid by the previous club for the agent’s involvement in severance arrangements; • 23 clubs committed to pay for the services of a licensed agent during this 12-month period; • 1 club did not pay for the services of a licensed agent during this 12-month period covered by this report (Crewe Alexandra).... From July 1, 20004 to June 30, 2005, Queens Park Rangers F C Total Ammount Committed to Agents...£320,935[Leeds United were far and beyond the highest number with almost £2 MILLION!]Explanatory Notes:1 The amounts disclosed include all guaranteed payments due to an agent (either directly or indirectly) arising out of player transactions entered into during the reporting period, even if such payments may include instalments payable outside the reporting period. It should be noted that in some instances clubs may have made payments on behalf of players, but may have adjusted the player’s wage accordingly to offset the payment.2 The amounts disclosed do not include:a) any payments made during the reporting period that relate to transactions completed before July 1, 2004; andb) any contingent payments based on future events, e.g. promotion, retention of divisional status, player appearances, etc.BBC - League wants clampdown on agents "Football League chairman Lord Mawhinney has called for urgent regulations governing agents after it was revealed clubs handed about £7.8m last season....Lord Mawhinney said: "Too much money is leaving through payments to agents."BBC Highlights:The £7.8m spent by the League clubs on agents represents nearly a third of the £25m TV money earned in a yearThe Championship accounted for £6.8m, League One £595,870 and League Two £325,020Leeds were the biggest spenders - paying £1.9m on feesThirteen clubs paid nothing to agents - Crewe were the only Championship club to do so


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FOUR NEW DIRECTORS
2nd August 2005
According to the small print in Saturday's matchday programme, four more directors have joined the board of QPR Holdings Ltd.
Gianni Paladini, who has hitherto been acting as a paid consultant to QPR, joins his wife Olga on the board.

Shove up, lads
Dave Morris and Phil Emmel are two of the other newcomers. Morris is believed to have been funding player purchases / wages for some time, and Emmel was the business partner of chairman Bill Power at Datasat Communications.
The fourth new director is Valentin Ehmer. Assuming there aren't too many people of that name around, he seems to be the London-based Head of the European Investor Unit at major investment bank Schroder Salomon Smith Barney. He appears to have an interest in youth football, and in 2001 his young sons were being coached at Ascot United FC alongside Glenn Hoddle's son.
When David Davies and Nick Blackburn were chief executive and chairman of QPR, they used to put an announcement on the club's official website every time a director joined or left the board. This was appreciated by most supporters and shareholders who, as a result, had a fair idea of who was making the decisions that affected the club and what the background of the directors was.
All companies in this country are required by law to file an "Annual Return" with Companies House. The Annual Return is a snapshot of information about the company including the name, address, date of birth, nationality, and business occupation of each director. Late filing of the Annual Return is a criminal offence for which the company's directors and secretary may be prosecuted. The Annual Return for QPR Holdings Ltd was due on 10 June 2005 and has not yet been filed according to Companies House.

Read more about Annual ReturnsCompanies House website
http://www.boardroomblues.co.uk/4newdirectors.htm