Queens Park Rangers' accounts reveal worrying future if relegated | David Conn

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Queens Park Rangers' recent accounts have revealed an increased wage bill and substantial losses pointing to a difficult future if the club are relegated

Queens Park Rangers increased their wage bill by £29m during 2011-12, their first season back in the Premier League, accounting for 91% of their increased income, and made a substantial loss, £23m. The club's new majority owner, the Malaysian airline entrepreneur Tony Fernandes, and his partners, paid in loans totalling £55m, while the family of the Indian steel magnate Lakshmi Mittal, who own 33% of QPR, lent £27m. A further £10m loan jointly held by Fernandes's company and the Mittals took the owners' total lending to QPR, which is interest free, to £92.5m.

The £23m loss and wage bill of £58m are revealed in the club's accounts covering the year to 31 May 2012, and then two further rounds of heavy spending on players followed, in the summer of 2012 and January this year.

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