Queens Park Rangers released the end of year club accounts, for year ending 31st May 2022.
The championship club accounts show a unhealthy balance sheet.
The club spent £124 on wages for every £100 of the clubs income in the year ending
31st May 2022, which meant the owners writing off the losses.
The club owes nearly £90m to various parties -
Nearly £6m to EFL for covid loans
£10.2m on FFP settlements ......... [ FFP is Financial Fair Play settlements ]
£68m in loans
£2.1m on player transfer instalments
The club spent £2.8m on players, with a sales income of £250,000, plus spending
£8.5m on a new training ground.
The club spent spent £20m more than it generated in the season 2021-22, funded by
borrowing from the owners.
The club lost £474,000 a week pre-tax in 2021-22.
The total losses over the years amounts to £332m, covered by combination of shares
issued to owners & loans.
QPR did not spend any money on players in the last 2 transfer windows.
But did sign free agent forward Chris Martin, end-of-season-contract.
The club have a new investor Richard Reilly, who now owns 12% of the club.
Perhaps not good reading for new manager Gareth Ainsworth.