Reported Club Losses of £21.4m......
Posted: Wed Feb 21, 2024 9:40 am
As reported by 'The Real EFL' website.
Queen's Park Rangers Record Huge Losses Of £400K-Per-Week..
Queen's Park Rangers have revealed their latest accounts from 2023 which make for difficult reading as the
club announce losses of over £20 million for the third year running.
The London outfit are locked in a tense relegation battle in the Championship but sit merely one point from
safety, having picked up two victories and one draw over the previous four league outings, with the wins coming
away from home against Blackburn Rovers and Bristol City.
After a dismal start to the campaign under former manager Gareth Ainsworth, ex-Hammarby boss Marti Cifuentes
took charge at Loftus Road back in October and has managed to keep Rangers alive in the fight for survival.
In 19 matches in charge of the relegation-threatened side, the Spanish coach has guided the team to six
victories and six draws, averaging 1.26 points per game in England’s second tier. At this current rate,
Queen's Park Rangers are set to collect 47 points by the end of the season.
However, the QPR board seem to be banking on Cifuentes pulling the team from the depths of the relegation zone to
avoid a catastrophic relegation to League One which could plunge the club into trouble off the pitch after the latest
accounts were published.
As brought to light by football finance expert Kieran Maguire on X, formerly known as Twitter, the West London club
recorded operating losses of a further £21.4 million over the year ending May 2023, marking the third year in a row
that QPR have suffered losses of £20 million or more. Furthermore, this meant that QPR lost roughly £411,000 per
week over the year that was accounted for.
Writer’s View
Due to disallowable costs, including the club’s academy and other expenditures on infrastructure,
Queen's Park Rangers should still be within the boundaries of FIFA’s Financial Fair Play restrictions.
However, the club are certainly walking a tightrope.
For supporters, these accounts are certainly worrying and only increase the pressure on the shoulders of
Cifuentes to help steer the ship back to safety in the Championship for at least another season.
The Spaniard has done an admirable job at the helm thus far, all things considered.
Queen's Park Rangers Record Huge Losses Of £400K-Per-Week..
Queen's Park Rangers have revealed their latest accounts from 2023 which make for difficult reading as the
club announce losses of over £20 million for the third year running.
The London outfit are locked in a tense relegation battle in the Championship but sit merely one point from
safety, having picked up two victories and one draw over the previous four league outings, with the wins coming
away from home against Blackburn Rovers and Bristol City.
After a dismal start to the campaign under former manager Gareth Ainsworth, ex-Hammarby boss Marti Cifuentes
took charge at Loftus Road back in October and has managed to keep Rangers alive in the fight for survival.
In 19 matches in charge of the relegation-threatened side, the Spanish coach has guided the team to six
victories and six draws, averaging 1.26 points per game in England’s second tier. At this current rate,
Queen's Park Rangers are set to collect 47 points by the end of the season.
However, the QPR board seem to be banking on Cifuentes pulling the team from the depths of the relegation zone to
avoid a catastrophic relegation to League One which could plunge the club into trouble off the pitch after the latest
accounts were published.
As brought to light by football finance expert Kieran Maguire on X, formerly known as Twitter, the West London club
recorded operating losses of a further £21.4 million over the year ending May 2023, marking the third year in a row
that QPR have suffered losses of £20 million or more. Furthermore, this meant that QPR lost roughly £411,000 per
week over the year that was accounted for.
Writer’s View
Due to disallowable costs, including the club’s academy and other expenditures on infrastructure,
Queen's Park Rangers should still be within the boundaries of FIFA’s Financial Fair Play restrictions.
However, the club are certainly walking a tightrope.
For supporters, these accounts are certainly worrying and only increase the pressure on the shoulders of
Cifuentes to help steer the ship back to safety in the Championship for at least another season.
The Spaniard has done an admirable job at the helm thus far, all things considered.