MX23RW : Thursday, January 9 23:03:23| >> :120:17240:17240:
General view of Loftus Road

Queens Park Rangers

Queens Park Rangers announce big losses

By , Reporter
Queens Park Rangers announce losses of £65.4m for last season, taking their total debt to £177m.

Championship side Queens Park Rangers have announced a loss of £65.4m for last season up to May 2013 in their latest financial report.

Harry Redknapp's side were relegated from the Premier League in the season that the report covers, with the losses now increasing the overall debt to £177m.

With the Financial Fair Play rules coming into effect QPR will be subject to big fines and a transfer embargo with such debt should they not win promotion back to the top flight this season.

The chairman Tony Fernandes admitted that the money spent on players and wages was dependent on the club remaining in the top flight and that they must return there as soon as possible.

"Clearly in 2012-13 the club did not meet its performance targets and was relegated from the Premier League," Sky Sports News quotes Fernandes as saying.

"A critical driver of any club's value is its presence in the Premier League, and the club is focused on regaining its Premier League status as quickly as possible. The financial results reflect the club's focus on trying to achieve on-pitch success."

QPR, fourth in the Championship, are currently in a playoff spot but remain nine points off second-placed Burnley.

ID:142794: cacheID:142794:1false2false3false:QQ:: from db desktop :LenBod:restore:2067:
Written by
Matt Domm 
Restore Data
Share this article now:
Queens Park Rangers' Malaysian chairman Tony Fernandes taken on December 15, 2012
Read Next:
Fernandes credits QPR character
>
Read more about Tony Fernandes Football
rhs 2.0
Today's games header
> View full version> Yesterday's results
Tables header RHS
TeamPWDLFAGDPTS
1Leeds UnitedLeeds26158348192953
2Burnley26141023192252
3Sheffield UnitedSheff Utd26166436171952
4Sunderland26148439221750
5Middlesbrough26118743321141
6West Bromwich AlbionWest Brom26913432211140
7Blackburn RoversBlackburn2511682823539
8Bristol City2691073330337
9Watford25114103536-137
10Sheffield WednesdaySheff Weds2610793840-237
11Norwich CityNorwich269984337636
12Swansea CitySwansea2697103030034
13Queens Park RangersQPR2671182934-532
14Millwall257992423130
15Preston North EndPreston2661282834-630
16Coventry CityCoventry2678113437-329
17Oxford UnitedOxford Utd2577112840-1228
18Derby CountyDerby2676133135-427
19Stoke CityStoke2669112432-827
20Luton TownLuton2674152744-1725
21Portsmouth2458113041-1123
22Hull City2658132536-1123
23Cardiff CityCardiff2558122540-1523
24Plymouth ArgylePlymouth2548132453-2920
> Championship Full Table


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
Argentina's Lionel Messi kisses the World Cup trophy after collecting the Golden Ball award on December 18, 2022Sign up for our FREE daily preview newsletter direct to your inbox!