Loftus Road side face big penalty for accumulating sizable debts.
QPR are set to be hit with a massive financial penalty due to the west London club’s failure to adhere to Football League regulations according to the Guardian.
The Loftus Road side are expected to face a £40m fine when they reveal their financial results later this year and a failure to meet the punishment could lead to the Super Hoops being demoted to the Football Conference.
QPR posted record pre-tax losses of £65.4m for the year ending May 2013, the season they were relegated from the Premier League. The losses for the last financial year, expected to be made public in December, are expected to be sizeable and should the club fail to retain their top flight status then multiple relegations may be imposed on them.
Super Hoops chairman Tony Fernandes has promised to fight any fine imposed by the Football League, which would go to charity rather than other clubs under an agreement with the Premier League over its solidarity payments.
Football League chief executive Shaun Harvey believes they would be able to charge QPR if they were to re-enter their organization, i.e suffer relegation to the Champoinship, stating;
“Theoretically, that is the position but I would hope there would be resolution long before that option even had to be considered. The one thing for certain is that most clubs [in the Premier League] will become a Football League club again,”
The crux of the matter relates to salaries QPR have agreed with players which did not include a reduction on the club’s failure to retain their top flight status and the resultant outlay is one that Fernandes is not compatible with clubs who are relegated.
Fernandes promises to fight his case;
“Will we fight the fine? What do you think? After all we’ve been through, it’s my middle name – ‘Fight It’ Fernandes,” said the QPR chairman following promotion back to the Premier League.
“My view has been consistent, that it is very unfair for a club that has been relegated as the wage difference between the Premier League and Championship is impossible. There should be a time period for clubs to rectify their salaries.
“If we were in the Championship in two years with that wage bill it wouldn’t be right. I’m in favour of FFP but it is unfair for a club coming down.”