QPR and Wasps fail buzz test

By LUCY FARNDON
Updated:

 

Loftus Road chairman Chris Wright may need to inject more money into the group to tide over losses at his Queen's Park Rangers football and Wasps rugby union clubs.

Loftus Road has been bailed out on several occasions by Wright, who owns almost 50% of the Aim-listed company. Wright, who is also chairman of Chrysalis, has already lent Loftus £4m.

Loftus lost £5.33m pre-tax in the year to May, an improvement on last year's £8.9m deficit. This includes profits on disposal of players and a £3.1m gain from selling surplus land from the Sudbury training ground.

Higher wages pushed football costs up 9% to £7m but Loftus expects a boost next season from TV and Internet deals.

Once again, it will not pay a dividend. In June David Davies came in as chief executive. The shares, 104p in 1997, are limping at 10 3/4p.

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