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Reply | Esquerdinha
at 21:55 28 Feb 2026
I cannot for the life of me understand why our coaching staff keep playing him when RND is unavailable. I think every time he has started he has been hooked early doors because he’s been at fault for a goal. He is not ready for the intensity of the Championship. I don’t actually think he’s very good like many of our development players. The likes of Chair and Eze have succeeded with us because they did a year or two in League 1 and 2. Esquerdinha just can’t defend which has to be his primary job. It’s not as if he bombs forward to create overlaps. Makes the loaning of Field even more ridiculous as he could have done a job there today. Unfortunately when you have the likes of Nourry and a cycling coach running the show we will see such little progress on the pitch. They don’t have the skill set to identify quality players. |
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Reply | Our ‘goal’ today….why was it disallowed?
at 18:53 28 Feb 2026
Dunne was being manhandled for every corner we had. Ref does nothing. We sit in the Upper Loft. Couldn’t see what Smyth did on the keeper. Arsenal do something every week on the keeper in their games. It’s the inconsistency which is infuriating. |
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Reply | Pony Up: Dunne's a Pro, Blades for show Fred
at 18:26 28 Feb 2026
We saw the team before the game and every single one of our group said Sheff Utd would score from coming down our left flank. It’s not rocket science. The Brazilian bloke cannot defend in a month of Sundays. We literally play one system and never find an alternative. Saito has been beyond poor this season. Not sure how Walsh started today after 4 mistakes on Tuesday. Varane was rubbish again. Morgan is just a passenger at this level. Don’t start me on Bennie. Adamson came on and I think he didn’t touch the ball once. Hayden has regressed this season. Kone just looks exhausted. Kolli has another game where I don’t know what he did when he came on. We have built such an unbalanced side. We keep getting for weeks that certain players would be back. Chair was another supposed to be back today. Missing in action again. Cook gets rested at Hull. Doesn’t even make the squad at Southampton. Poku has been such a poor addition. Basically injured since the first game of the season. We sign a striker in January who we could have got for free in the summer. We pay 500k for him and he’s vanished. Our players are so delicate. We have no pace going forward. Our football is beyond negative. Relentlessly passing it backwards when we get into decent positions. Watching our players unable to pass to a teammate. Not closing down players. Looking so unfit. Get this season over and I hope the board get rid of Nourry, Belk, cycling Ben and Stephan. Had enough of them. |
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Reply | Charlton crowd issues
at 20:36 27 Feb 2026
Here’s my photo of going in taken at 1953. It was shocking and there was crushing. The police were incredibly unhelpful. The CAFC stewards were so aggressive when dealing with each person going in. It was appalling.
How do copy the photo in here? I’m unable to copy and paste for some reason. |
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Reply | Walsh
at 19:17 26 Feb 2026
The gk position has been a disaster all season. A proper keeper should have been signed last summer. Walsh, Cooper, Nardi and Hamer all have to be moved on this summer. Get what you can for Walsh and Cooper. Nardi and Hamer will be out of contract. I hope Nourry, Belk and the cycling fella are on their computers as we speak playing Football Manager looking for a keeper in the 25-27 age range that is confident, agile, uses his feet well, commands his box and talks to his defenders! And please with a bit of height! Cooper is too small for this league. |
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Reply | Who was the last owner of QPR who knew anything about footballl
at 21:10 25 Feb 2026
It is amazing how our owners can chuck away 2 million every month and leave the club in the hands of a Gap Student who is making an almighty cock up of running our club each day. Only we could have a Gap Student and a Cycling coach being the Kingmakers in a Championship football team. |
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Reply | Ben Williams and his team
at 21:06 25 Feb 2026
No doubt there will be a Fans Forum at some stage where Nourry will roll out his best mate Cycling Ben for a few pre-prepared questions followed up by some manufactured data. All these injuries are showing all these data signings by Nourry and Belk are not up to this level. |
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Reply | I've not started a match thread before, but I thought f*ck it, why not? v Saints
at 22:02 24 Feb 2026
I’ve never understood why fans clap the side after a performance like that from the players who were an embarrassment to the shirt. I was at Coventry away and couldn’t believe there were people clapping players after a performance like that. Some of those players tonight showed they’re not good enough for this level. Their body language was appalling. Jogging when tracking back. Not closing down. Gutted for our fans. No doubt we will get some more rubbish from Stéphan in his post match interview. |
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Reply | Ben Williams and his team
at 21:26 24 Feb 2026
Injury after injury from cycling Ben. Imagine running a cycling team and bringing in a football coach? Our squad is made of glass. |
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Reply | Walsh
at 21:16 24 Feb 2026
Agree. The guy is a bag of nerves. Every successful side needs a solid keeper. Look when we had Paddy Kenny in goal. It gives confidence to the whole side. He’s not any better than Nardi who is weak as well. We have 3 poor keepers. We need to buy a proper keeper in the summer. This season is over. Gutted for our fans down there tonight. |
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Reply | Club Accounts
at 12:27 19 Feb 2026
Well Co-Pilots view of our accounts…
⭐ Summary of the Main Points from the Accounts
1. Financial Performance
• Turnover: £28.0m (up from £25.9m).
“Group turnover was £28.0m, which is higher than in the previous year (£25.9m).”
• Gate receipts: £6.8m (slightly down).
• Operating loss: £18m after player trading (up from £13m).
• Overall loss for the year: £20m.
“The loss for the year amounted to £20m (2024: £13.5m).”
• Bank reserves: £1.9m (down from £2.2m).
• Net liabilities: £70.9m deficit (worse than £64.8m prior year).
2. Cash Flow
• Operating cash outflow: £13.2m.
• Player purchases: £6.4m (up from £1.1m).
• Shareholder financing received: £19m.
3. Going Concern
• The club is dependent on shareholder funding to survive.
• Three major shareholders have signed deeds of support promising up to £40.6m each until May 2027.
• BUT — these deeds are not legally binding, so the auditors highlight a material uncertainty. “This indicates that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern.”
4. Player Trading Strategy
• Club explicitly states it is “fine tuning our player trading model” to comply with league financial rules.
• Aim: self‑sustainability and younger squad profile.
5. Corporate / Debt
• A £10m unsecured bond (6%) issued to the owner’s spouse has been extended to 2030 at 8%, with an option for a charge over the training ground. This is a related‑party transaction with governance implications.
6. Women’s Team
• Brought in‑house from the Community Trust.
• Cost: £260k.
7. Auditor’s Report
• Clean audit opinion.
• BUT: Material uncertainty over going concern due to reliance on shareholder funding.
• No issues with record‑keeping or compliance.
---
⭐ How This Looks Against EFL Championship Rules (PSR)
Here’s the key part: Are QPR in danger of breaching Profit & Sustainability Rules?
1. PSR Loss Limits
Championship clubs may lose:
• £39m over 3 years (averaging £13m per season),
• BUT only £5m of that can be actual cash losses — the rest must be covered by owner equity.
QPR’s position:
• Loss this year: £20m
• Loss last year: £13.5m
• Loss the year before (not shown here, but historically high)
This means QPR are almost certainly over the £39m rolling limit, unless:
• Large losses are excluded (academy, women’s football, infrastructure),
• Or owners convert loans to equity.
The accounts repeatedly emphasise:
• Player trading is essential to compliance.
• Shareholder funding is essential to survival.
This is exactly the language of a club operating right on the PSR edge.
2. Going Concern vs PSR
The auditors highlight: “Material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern.”
This is not a PSR breach in itself, but it signals:
• Heavy reliance on owner funding
• No sustainable operating model
• High risk if owners withdraw support
The EFL expects clubs to demonstrate secure funding for the season — QPR just about meet this through shareholder deeds.
3. Related‑Party Transactions
The £10m bond to the owner’s spouse, now extended at 8% with potential security over the training ground, is:
• Allowed under EFL rules
• BUT must be declared and may be scrutinised for fair market terms
• Securing the training ground could affect future borrowing capacity
4. Player Trading Model
The club explicitly states this is the core mechanism for PSR compliance.
This aligns with EFL expectations — but also confirms:
• QPR must sell players regularly
• They cannot sustainably compete without sales
• Squad planning is financially driven
5. Shareholder Funding
The EFL allows owner funding, but:
• It must be equity, not loans, to count toward PSR
• These accounts show loans, not equity injections
• That means they do not reduce PSR losses
This is a critical point:
QPR’s reliance on loans worsens their PSR position.
---
⭐ Overall Assessment: Are QPR Compliant?
Based on the accounts:
QPR are compliant only because of:
• Player sales
• Owner funding
• Cost‑cutting
• A younger, cheaper squad
But they are operating at the very limit of PSR.
The accounts show:
• Large recurring losses
• Heavy reliance on owners
• No sustainable business model
• A need for ongoing player sales
• A material going‑concern warning
This is exactly the profile of a club that:
• Must sell players each summer
• Cannot afford relegation
• Cannot afford a major wage increase
• Is one bad season away from a PSR breach |
| Forum
Reply | Nourry answers questions
at 09:17 17 Feb 2026
And then you go to the embarrassment of the Plymouth away game. Stephan had been at the club for 5 mins, but suddenly knew enough to play a whole squad of youth players. That was clearly him being told by those from above like Nourry and Cycling Ben from Dubai. You would have thought after the debacle after last season we would have learnt for this season. We get to a point this season where we have injuries galore and we are having to play players like Daniel Bennie who are simply not up to Championship level. I watched him closely against Blackburn and not once did he get round his full back. He kept coming in to play the safe option which was very much like Edwards at right back. Neither got past the full back to get balls in the box. It’s actually becoming a running joke where we sit in the Loft that Stephan does nothing to the squad and then suddenly at 60 mins the subs come on. Everything is pre-planned. It just shows his ineptness of in game management. We go 3-1 down on Saturday and there’s no immediate reaction from the bloke to change the side. By the time he makes the change the game is gone. We need to build a squad of depth and quality. The likes of Bennie etc. should be sent on loan to League 1 or 2 to get the experience to increase their value because playing them at our level is to the detriment of our side. |
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Reply | Budget?
at 09:47 15 Feb 2026
Nourry confirmed in his Q and A that the budget is based on income from last season. Eze money has come this season so will go into the budget for next season. I think the squad is very unbalanced. We have this obsession with buying small players. Look how Saito was outmuscled for their 2nd goal. Is happening every week. We also have an obsession of playing centre backs at right back. We get rid of Frey and replace him with someone who is injured. We signed Vale last January and he didn’t play until the following season. We seem to be running out of centre mids and send a good one out on loan. |
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Reply | Morgan
at 09:40 15 Feb 2026
I’m afraid Morgan is another one who is not going to make it at this level. The squad is awash with mediocrity. |
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Reply | Next season’s squad
at 09:39 15 Feb 2026
JCS signed a 4 year contract back in Feb with an option of an extra year. The man is going nowhere. Another Nourry masterclass with all the Australian players who aren’t good enough for the Championship. |
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Reply | Loftus Road / Rangers Stadium - Such a privilege to have as our Home Ground
at 20:24 14 Feb 2026
I love Loftus Rd but we need to do something if we want to progress as a club. We are the only club in the top 2 divisions to have not modernised their stadium or moved to a new one in the last 40 years. Our ground has appeal for all the usual reasons, but it’s 2026. We need to find a way to sort the issue out. |
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