Update on clubs in crisis, Tom Davies reports
It has been another fraught summer at Queens Park Rangers, with the club facing a winding-up order, further loan entanglements and worries about ongoing financing. QPR were served with a winding-up order in June over debts of £700,000-£800,000 to HM Revenue and Customs. The club was bailed out with the help of a new £1.3 million loan from the mysterious Panama-based ABC corporation, to whom Rangers were already paying back an earlier £10m loan (see WSC 230). Furthermore, the entire loan repayment deadline was brought forward to August next year from the original deadline of 2012.