QPR handed hefty fine and transfer ban for breaking spending rules | OneFootball

Queens Park Rangers will have to fork out £42m to the Football League after breaking Financial Fair Play spending rules.

The figure is comprised of a £17m fine, £3m in legal costs, the agreement from club shareholders to write off £22m of outstanding loans.

QPR will also be unable to sign any new players until January 2019.

The Championship club have been deemed guilty of breaking spending limits en route to their promotion to the Premier League in 2014.

That season, their wage bill stood at £75m – 195% of their turnover of £38.6m.

Earlier this month, QPR appealed the decision on the grounds that they believe FFP rules are unlawful, but this claim was dismissed by an arbitration panel and the EFL have agreed that the £42m can be paid over a period of 10 years.

In a joint statement released with the EFL, QPR chief executive agreed that the settlement “is in the best interest of football as a whole”.

“QPR felt it was best to put this matter behind them to enable all parties to have certainty and allow us to continue focusing on running the Club in a sustainable manner, going forward,” he added.