QPR wage bill doubles

QPR's latest accounts show the wage bill doubled to £56million even before their spending in the last two transfer windows.

Last Updated: 07/03/13 at 09:34 Post Comment

QPR: Battle to stay in the Premier League

QPR: Battle to stay in the Premier League

The state of QPR's finances has been put under the microscope once again after the club's latest accounts showed the wage bill had doubled to £56million even before their spending in the last two transfer windows.

Despite a substantial outlay on players since promotion two years ago, the west Londoners find themselves bottom of the Barclays Premier League with just 10 matches remaining.

QPR twice broke their transfer record in January by bringing in Loic Remy and Christopher Samba in a bid to avoid the drop, which led to increased scrutiny over the club's spending.

That interest will only increase after the release of the club's accounts for the year ending May 31, 2012.

While turnover rose from £34.6million to £74million, wages soared from £27.6million to £56million in a season in which QPR only managed to secure survival on the final day.

A host of expensive players have since arrived at Loftus Road, with summer arrivals such as Park Ji-sung, Julio Cesar and Jose Bosingwa followed in January by Samba and Remy.

QPR chairman Tony Fernandes admitted in his directors' report that the board are "conscious of the need for expenditure to be closely monitored and controlled" but also the need to invest in the playing squad.

"A critical driver of any club's value is its presence in the Premier League and the club achieved its key objective for the 2011-12 season, by successfully securing its Premier League status for the coming season," he said.

"The financial results reflect the club's focus on on-pitch success.

"There are a number of potential risks and uncertainties that could have a material impact on the group's long-term performance. These risks and uncertainties are monitored by the board on a regular basis."

Fernandes, Kamarudin Bin Meranun and Ruben Emir Gnanalingam own 66 per cent of QPR, while the other 33 per cent belongs to the Mittal family. Lakshmi Mittal is listed as the 41st richest person in the world by Forbes magazine, with a net worth of 16.5billion US dollars (£11billion).


Click here for completely free £10 bet with Sky Bet & £5 free every week


Related News

Most Commented

Readers' Comments

H

e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

Synergy
Toure: I am staying with City

G

uess we can expect Toure's explanation of his behaviour around the same time Pete Townshend publishes his book then.

ceeps
Toure: I am staying with City

D

amn you Yaya, don't scare me like that! I only ate the icing. I didn't eat the soft and scrumptious middle - I will buy you another cake!

MCFC87
Toure: I am staying with City

Footer 365

Gareth Bale says Real Madrid are eyeing a six-trophy campaign this season

Gareth Bale says Real Madrid are targeting an even bigger trophy haul this season.

Friendly: Manchester United beat LA Galaxy 7-0 as Louis van Gaal era opens in style

Wayne Rooney, Reece James and Ashley Young all scored twice as Manchester United beat LA Galaxy 7-0 in Pasadena.

Premier League: Gylfi Sigurdsson delighted with move to Swansea from Tottenham

Gylfi Sigurdsson has told Sky Sports he is delighted to have joined former club Swansea from Tottenham.

Mail Box

Definitely Not Getting Giddy Over A Friendly Win

We have some conclusions from Louis van Gaal's perfect start, plus a dismissal of fantasy football, worries about La Liga's greediness and thoughts on Real with Ham-ez...

Defending Woodward With Perspective

One Mailer is telling us to hold fire on our Woodward criticism, whilst we also have some wonderful PFA Team of The year geekery, a well done to Vieira and much more...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property