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Redknapp: No financial crisis

Queens Park Rangers boss Harry Redknapp insists that there will be no financial meltdown at the club, even if they are relegated.

Last Updated: 09/03/13 at 13:07 Post Comment

Harry Redknapp: Confident of financial future

Harry Redknapp: Confident of financial future

QPR's owners have splashed the cash in a bid to stay among the elite yet have spent the majority of the club's return to the top-flight looking up from the bottom of the league.

After only surviving on the final day last season QPR have won just three league games this time around and, with 10 games left, are four points adrift of safety in last place.

The club's accounts were released this week and the figures showed player wages doubled to £56m while net debt stood at £89m - numbers that do not even reflect the influx of expensive names since the summer.

Redknapp's presence, plus the QPR owners' heavy spending, has inevitably led to parallels being drawn to Portsmouth's decaying fortunes following their own Premier League extravagances.

Redknapp is, however, confident such a scenario will not envelop his current employers as he believes they have acted smarter in the transfer market - bringing in players with a high re-sale value - to ensure any revenue lost from relegation could be quickly recouped.

"I only know the players I have bought since I came here and you won't have any problem (selling them)," he said.

"If the worst came to the worst you could sell Samba or Remy. They were two buys you make where there wasn't much of a downside to them.

"The club turned down more money for Samba than we paid for him from a Russian club so you'll always get your money for him and Remy is exactly the same.

"There will always be buyers for good players. Selling bad players; overpaid, bad players is the difficulty.

"That's where you can get in trouble. There is not a market for bad ones who get too much money, that is your problem."

Portsmouth were unable to sell their way out of trouble once their financial crisis hit, despite offloading almost £100m in player sales.

Redknapp had left before Portsmouth's problems took hold and, while his tenure brought the highs of an FA Cup success, he was quick to point out any subsequent financial demise should not fall on the manager.

"I don't ask the chairman to spend his money," he said.

"If he wants to bring a player in then so be it. As a football manager I can't make someone spend money."

Accountable

It is a scenario Redknapp believes holds true at QPR, where he believes the owners are accountable for their spending.

"There is not going to be meltdown because of something I've done," he said.

"If the (financial) results aren't good that was before I came to the club.

"I hope (QPR don't follow Portsmouth's fall), but I don't know the situation of the owners any more than I knew the situation of the owners at Portsmouth.

"He was a young Russian guy who was a friend of Roman Abramovich. When they buy the football club you don't know whether he is richer than Abramovich, so when they want to spend money on the team, what do you do?

"You don't say, 'I'm sorry you can't spend that money because I don't know if you've got it or not'.

"It's their decision."

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e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

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