Saturday 21 July 2018

Losses cut to £9.8million

The Football League will continue discussions with QPR over the club's position in relation to Financial Fair Play regulations after the west London club reported a massive cut in their losses.

QPR posted a loss of £9.8million on Monday for the year ending May 2014, with £60million worth of loans written off by shareholders in those figures.

QPR said they were able to reduce their expenditure by £22million during their one season back in the Sky Bet Championship which ended in promotion via the play-offs.

The new figures represented a huge reduction from the £65.4million deficit which was reported in May 2013, and if the latest results had been on a similar scale then the club looked set to be hit with a significant fine from the League under the new FFP regulations.

Under the new system voted in, Championship clubs were permitted losses of £8million, with £5million funded by shareholder investment in 2013-14. Teams promoted back to the Premier League who exceeded those losses are set to be subjected to a fine and those still in the Championship face a points deduction.

The next £10million of losses are remitted on a sliding scale, with a maximum fine of £6.681million. However, once losses exceed £18million, the fine is then imposed on a strict pound-for-pound basis.

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