QPR take out £15m bank loan against their assets

Despite the Hoops borrowing the funds, a spokesperson for the west London outfit has insisted their shareholders remain ‘wholly committed’ for the short and long-term
QPR have taken out a £15 million loan secured against the club’s assets - the first time they have borrowed significantly under majority shareholder Tony Fernandes.

The loan, with Barclays Bank in Hong Hong, was finalised on March 18, and despite the club facing the prospect of relegation to the Championship and currently around £90m in debt, a spokesperson insists their shareholders remain committed.

"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," he said.

"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."