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QPR today announced a loss of £9.8million during their last season in the Championship, confounding predictions it would be far higher.
The figure for the year to May 2014 came in an announcement on their website with the club also revealing shareholders have written off £60m worth of debt.
QPR lost £65.4m in the 12 months to May 2013 and a similar deficit would have led to a huge fine under the Football League’s Financial Fair Play Rules. However, the club are now in line for only a small penalty given that Championship teams for 2013-14 were allowed to lose up to £8m.
The club did not publish the full accounts on their website but said expenditure was cut by £22m because of lower player costs. QPR claimed the “trend will continue in future years as the club will continue to bring losses down”.
