Recently relegated English club Queen’s Park Rangers have dodged a Financial Fair Play sized bullet after claiming improperly counted losses.
QPR reported a loss of just under 10 million pounds with roughly another 60 million pounds written off in loans. Whether or not the owners were aware that the 60 million written off in loans would count towards the entire total of 2013/14, the entire season’s losses totaled to roughly 70 million pounds.
QPR owner Tony Fernandes responsible for writing off close to 60 million in loans. Photo: @soccernewsbabe | Twitter
According to Financial Fair Play rules, a single club was allowed losses up to 8 million pounds, and anything above 18 million would be subject to a fine determined by the extent of the losses. With that knowledge, QPR exceeded the 18 million maximum by over 50 million pounds. Had the League decided not to reduce their fine to 8 million pounds, QPR could have found themselves with a 50 million dollar penalty in their hands.
QPR are very fortunate to have their fine reduced by so much money, because a fee like that could have began to effect their chances in the Championship. The club could also be even more eager to sell Charlie Austin in light of this financial issue they are dealing with.
