GETTING MESSIER! QPR Announces £9.8 million Loss

From loosing a top quality manager and being relegation bound, Queens Park Rangers are passing through a hard tough time. One might think that Harry Redknapp probably saw all this coming before he took to his heels... lol. Read the story below.


Premier League strugglers QPR have announced losses of £9.8 million for the financial year ending May 2014. Following relegation from the top flight in 2012-13, the Loftus Road club bounced straight back via the play-offs last season, but are just one place above the drop zone, ahead of Burnley and Aston Villa on goal difference.

The club's records showed a loss of almost £10m, although expenditure has been significantly lessened and £60m worth of debt has been written off.

"Expenditure was reduced by £22m, mainly driven by lower player costs and this trend will continue in future years as the club will continue to bring losses down," a statement read.
"In addition, the club's shareholders reiterated their long-term support for the club by strengthening the club's balance sheet by writing off £60m of shareholder loans.
"The club's shareholders and directors are of the opinion that the club is moving in the right direction and on track with its mid-term and long-term business plans.
"The impact of relegation and promotion inevitably has a material impact on the short-term financial results of clubs but the shareholders are comfortable that the medium-term outlook is positive with Premier League revenues growing and the club's costs continuing to fall."