League queries Latics loan

03 May 2007 12:49
The Football League has launched an investigation into a £500,000 loan made by Oldham chairman Simon Blitz to Championship side Queens Park Rangers. The loan, which was registered with Companies House on April 18, has been confirmed by Blitz, who insists the 'business deal' has no effect on the Latics. "I was talking to the QPR chairman (Gianni Paladini) and he asked me for a short-term loan because they had problems covering the payroll," Blitz told the Oldham Chronicle. "I told him 'I can help you out' because I had some extra funds in my personal account. "I do this sort of thing - agreeing to a loan, getting the money back quite quickly and making profit from the interest. "It's something I do. People borrow money from me and they pay it back with interest. Business is business. "There's no conflict with my position at Oldham Athletic because I haven't invested in another club, just lent them some personal funds for a few weeks. "People can say whatever they like, but this is a business deal on a personal level which has no bearing whatsoever on the Latics."

Source: ESA