New QPR CEO's January reveal may break the hearts of supporters and increase relegation worries | OneFootball

Highlights

Queens Park Rangers' regression in recent years has been well-documented, and financial mismanagement has been a key factor in such circumstances.

Ten years ago, the R's were seemingly on the up, as they became a yo-yo club between the upper echelons of the Championship and Premier League for a four-year period, but were unable to sustain a long-term position in the top flight.

Ultimately, whilst Rangers fans saw a plethora of high-profile names come through the door at Loftus Road, it was unbeknownst at the time that the club would be feeling the ill-effects of such developments way later down this dramatic timeline, which at present sees the club languishing in the midst of a relegation battle.

In April last year, it was revealed by the Spectator that former chairman Tony Fernandes and other shareholders owed a staggering £97.6m in combined fees which stemmed from the aforementioned overspending as well as loan fees, training ground costs and 'COVID bailouts' from the EFL.

This has led to such an unstable period in this corner of West London, with the likes of EbereEze sold to Crystal Palace back in 2020 for a fee which could rise to £20m. However, such funds for current players have yet to be recouped - despite Rangers' need to keep ahold of the likes of Chris Willock and Ilias Chair - which has seen the club sail dangerously close to the wind regarding Financial Fair Play, with the Athletic claiming that Rangers' 2023 accounts displayed a £24m loss (approximately £474,000 per week). This has led to no wriggle room in terms of transfers, which will prove frustrating to Marti Cifuentes as he undergoes his first window, which is ultimately crucial in the fight for survival.

This was proved by Gareth Ainsworth's final window, as whilst the likes of Asmir Begovic and Steve Cook were added to the ranks, all additions were on free transfers or significanty low costs.

Mixed emotions for QPR supporters after new CEO installed

The second week of the current window saw a significant change in the boardroom, as Christian Nourry was instilled on Friday as the club's new CEO.

Whilst Nourry's background in working for RETEXO as an advisor for some of Europe's biggest footballing institutions, such as Real Madrid, AS Roma and Athletic Bilbao, will give optimism in the future to QPR's long-suffering supporters that the club can regain a stable footing and become an upwardly mobile and progressive side, a facet of his first interview will not have eased the burden of a potential drop into League One for the first time since 2003/04.

When quizzed about the idea of movement in the transfer market to give Cifuentes some much-needed resources, Nourry's update was far from positive.

"My job as CEO is to ensure we abide by all the rules in the league that we're in, and that includes the EFL's Financial Fair Play rules," he said via the club's official channels.

"As I think has been stated by other individuals within the club in the last few months, we have previously made decisions in the current PNS cycle that prevent us from being active in the January transfer window. It's very important to me that everybody is very clear in that regard," Nourry added.

The upcoming challenges facing QPR and Marti Cifuentes

This means that the Spaniard, who was allegedly aware of such difficulties that would come his way, must rekindle the strong form that was showed by his squad in the earlier weeks of his tenure, which saw three consecutive wins against Stoke City, Preston North End and Hull City between November 28th and December 9th.

It is important that the news also doesn't filter through to performances on the pitch, as it's so often said that new bodies in a struggling squad breed confidence, which could be demonstrated by relegation rivals Sheffield Wednesday, who have accumulated 16 points from 27 and already made some shrewd deals in the transfer market under Danny Rohl.

There's no disputing that the aforementioned Chair and Willock will have a significant part to play in QPR's predicament, and that must start fast before the danger of being cut adrift sinks in.

Rangers must depend on their home form being turned around also, as they've among the 24 Championship sides.