Queens Park Rangers’ Chief Executive Officer Lee Hoos has detailed the ‘huge economical hit’ that the club is facing amid recent global events.
The Football League season has been postponed until the 3rd April amid the coronavirus outbreak. It’s left many clubs fearing for their financial income over the next couple of weeks, with no matches set to be played.
Speaking in the QPR podcast by West 12 Media, Hoos outlined that ‘player-costs’ i.e. players’ wages, could leave QPR in a financial predicament come the end of the season:
“Other than the fact that most of our costs are players costs, so they’re fixed and pre-determined while having no income coming in means we’re in great shape,” he explained. “Economically it’s a huge hit – absolutely massive.”
QPR are only just getting over their financial hangover of the previous years – Hoos was brought in to see QPR trough this phase of paying their 2018 FFP fine, and in stabilising the books after years of mis-spending.
But recent events will leave a lot of teams short-handed in terms of finance, and with the possibility of the season being pushed back even further, QPR could be in real trouble.
“To accumulate how much that will be, I don’t know until we know where we are in terms of when this thing burns itself out and we can get back to some sense of normality,” concluded Hoos.
He’s a likeable character at QPR. The work he’s done over the past four years can go unnoticed, but he’s played a huge part in restructuring QPR, and getting them to a more stable financial level.
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A lot of football teams will suffer over the coming weeks. QPR are in a more precarious financial predicament than most and recent events could hurt them more than others. There’s little that anyone can do about it though – it’s just a waiting game at the moment.