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Steve Russell
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'The Board is Open to Investment'....

Post by Steve Russell »

(Bloomberg) -- 'English second-tier football team Queen's Park Rangers is pitching investors in
a bid to capitalize on strong demand for investment in the world’s most popular sport.

The West London team, which recently opened new facilities at its training center close to
Heathrow Airport, has been showing potential investors around its sites, according to a person
close to the situation, who asked not to be identified because the information is not public.

“The board is open to new investment,” QPR’s Chief Executive Officer Lee Hoos said by text message.
“There are two key parts to it: one is the investment itself but the second is whether the person can
add to the strategic process at board level.” He declined to elaborate on any talks.

US investors are increasingly targeting lower league English teams in order to attempt to get them
prromoted to the more lucrative top tier. Most teams in the second tier, known as the Championship,
are loss-making, with player wage costs exceeding revenues in the league as a whole for the fifth
consecutive year.

This year, US hedge fund manager Tom Wagner bought a 46% stake in Birmingham City Football Club and
a group of US businessmen invested in Welsh football club Swansea City, both in the Championship. Lower-tier
teams that have received investments recently include Ipswich Town, Lincoln City and Wrexham AFC, which
Hollywood celebrities Ryan Reynolds and Rob McElhenney bought a stake in in 2021.

QPR last played in the Premier League in the 2014-2015 season. Last season, it only narrowly survived
relegation to the third tier after its coach Michael Beale left the club unexpectedly to join Glasgow Rangers.

The club’s controlling shareholder is Ruben Gnanalingam, son of recently deceased Malaysian billionaire
G. Gnanalingam. Other shareholders include steel magnate Lakshmi Mittal’s son-in-law Amit Bhatia and
US investor Richard Reilly.

The club posted an operating loss of £24 million ($31 million) on revenue of £22.1 million for the 2021-2022
season which is the latest available. Hoos said the financial results were impacted by a decision to retain players.'

©2023 Bloomberg L.P.
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Re: 'The Board is Open to Investment'....

Post by Kerrins »

Bloomberg is a USA financial publication. Therefore bound to take an interest in
running a news item of this nature
Posts: 1294
Joined: Wed Dec 01, 2021 9:58 am
Location: Running down the Uxbridge Road

Re: 'The Board is Open to Investment'....

Post by steveqpr881 »

True, young kerrins;
not the sort of stuff you'd expect to read in the East Acton Gazette.
Posts: 358
Joined: Wed Dec 01, 2021 12:02 pm

Re: 'The Board is Open to Investment'....

Post by Kerrins »

Now that Hoos is Chairman and following his recent trip to the states it's......

Good Morning USA
I've a feeling its gonna be a wonderful day
The Sun in the sky
Has a smile on his face
And he's given the salute
For a Takeover to take place
Oh gee its swell to say
Good morning USA.

Apologies to the American Dad Cartoon Series ;)
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