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).
- Post a Comment
- View the Comments Page
Post Comment
