Bernie gives QPR fans food for thought
Queens Park Rangers co-owner Bernie Ecclestone has sought to dampen the exuberance of supporters, insisting he and his fellow investors will not blindly plough money into the club, with stability very much the present priority.
Since taking over at Loftus Road along with fellow Formula 1 supremo Flavio Briatore, the West Londoners have been lavish in their dealings in the transfer market.
However, Ecclestone was quick to dispel suggestions that the club would splash the cash at will, whilst also revealing a degree of confusion when Briatore originally approached him about taking over the club.
“QPR wasn’t on my radar,” he told The Times. “Flavio was telling me he was looking at buying a restaurant, so when he called me one day to talk about QPR, that’s what I thought he was talking about.
“QPR isn’t a wealthy club. It’s a club that’s owned by some wealthy people. Noone is going to be lashing out lots of money.
“Things need to be done correctly and that’s what we’re going to do.”
Rangers emerged from administration in 2002 thanks to a loan from the ABC Corporation, which has still not been paid back, whilst they are also thought to owe former director Antonio Caliendo £2 million.
Ecclestone admits that balancing the books will take precedence over splashing out on transfer targets.
“One thing’s for sure, if we owe anything, we pay it back,” he continued. “We’ll pay the debt when we can – at the end of June. That's when the loan matures so that's when we can pay it back.
“We’re also finalising the balance sheet with Mr Caliendo in order that we can clarify what is owed to him. When that is completed he will be paid immediately.”
