FAN JOINS BOARD TO HELP EASE R'S CASH FEARS

from the Ealing Gazette 30 January 2004

by David McIntyre

QPR have turned to a supporter in an attempt to put their house in order.

David Anderson, a financial expert and R's fan since 1960, has joined the Loftus Road board to help address the club's cash problems and make it more attractive to potential investors.

A partner in chartered accountancy firm Moore Stephens, Anderson was on the board of the supporters' trust QPR 1st, stepping down after accepting a plea to lend his expertise to the Rangers board from director Bill Power.

"I've joined not in a decision-making capacity but a consultancy capacity, and I'm happy to do that," Anderson told the Gazette. "I specialise in grooming companies for takeover, and there are certainly things that can be done to make a business more attractive to investors."

"This area is being looked at more critically now. It's early days because I've only sat in on one board meeting so far, but over the coming months I hope to do as much as possible."

Anderson insists there is no slight against the current regime at Rangers, which already includes chief executive David Davies and finance director Paul English.

"I don't want to be critical", Anderson said. "For a start, Paul English's experience is perhaps not in corporate finance, whereas mine is. He has been providing me with a lot of essential financial information.

"In fact, I now sympathise more with the club and what they are trying to do. There is quite a lot you can do to improve things, but it comes down to increasing income or reducing expenditure.

"There has been criticism of staffing levels. But if you try to reduce expenditure, even if you hack the admin side you will still have to make cuts to the playing side, which nobody wants. That is why it's so important investors come in. We are trying to make the club more attractive in that respect."

Part of Anderson's brief is to assess the various possible investors the club has been speaking to. But his role is a temporary one. QPR 1st described it as a "loan transfer".

"We want an investor, and there have been a number of interested parties. That has been well documented", he added.

"There has been a mixture of scepticism and enthusiasm towards them but nobody inside the club doubts the need for an investor to come in. What we could do with is a really top-class offer, and we are doing what we can to make that more likely.

"If the right person comes along and the finances of the club are sorted out, I imagine I'll go back to doing what I did before with QPR 1st."

Anderson, who grew up in Ruislip and lists Rangers legend Rodney Marsh as his all-time favourite player, says there is light at the end of the tunnel despite seemingly endless reports of financial difficulties.

However, he admits the £10million loan from ABC Corporation which the club negotiated before coming out of administration in 2002 is a worry.

"We've got board members willing to put as much money as they can where their mouth is", Anderson said. "I have huge respect for people like Bill Power and Kevin McGrath for doing that. As business people they know if they wanted to make money there are more constructive things they could do."

"There are people, including me, who will do all they can for this club, and the fans as a whole feel the same. You only have to look at season ticket sales, attendances and the money raised by supporters to see that.

"QPR might have struggled in recent years but the support is there. It's a real cult following. That's something we can use positively.

"The club has a lot going for it. Working towards financial stability is the aim, and paving the way for an investor to come in is crucial to that."

Boardroom Blues Note
At Easter 2003 QPR FC chairman Nick Blackburn was interviewed by A Kick Up The R's fanzine and was asked what the fans could do to help the club. He replied that they could sing more loudly at home games.

 

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