The latest accounts from Queens Park Rangers show that the club’s holding company recorded a £45.7m loss last season despite having the benefit of Premier League television income. They earned £65.9m from Premier League television money last season, which contributed to an overall turnover of £85.8m.
However, £38.8m was spent on players and there was a wage bill of £72.9m. This represents 85 per cent of turnover, well above the recommended 50 per cent level. The club’s net debt, mainly in the form of loans from shareholders, has risen to £193m.
The latest accounts from Queens Park Rangers show that the club’s holding company recorded a £45.7m loss last season despite having the benefit of Premier League television income. They earned £65.9m from Premier League television money last season, which contributed to an overall turnover of £85.8m.
However, £38.8m was spent on players and there was a wage bill of £72.9m. This represents 85 per cent of turnover, well above the recommended 50 per cent level. The club’s net debt, mainly in the form of loans from shareholders, has risen to £193m.
The club are still involved in a legal battle with the Football League, fighting a potential fine of £58m if they are judged to have breached its financial fair play rules in 2013-14. However, it is likely that any eventual fine would be much smaller.