Premier League strugglers Queens Park Rangers have announced losses of £9.8m for the year 2014.
Relegation in 2013 from the Premier League then saw the Loftus Road side come straight back up to the Premier League via the play-offs, but sitting perilously above the relegation places at present; they could find themselves heading back to the Championship.
And, they have announced their financial records for last year, something the club say cannot be helped due to their ‘yo-yo’ status in the top flight.
“Expenditure was reduced by £22m, mainly driven by lower player costs and this trend will continue in future years as the club will continue to bring losses down,” a statement read.
“In addition, the club’s shareholders reiterated their long-term support for the club by strengthening the club’s balance sheet by writing off £60m of shareholder loans.
“The club’s shareholders and directors are of the opinion that the club is moving in the right direction and on track with its mid-term and long-term business plans.
“The impact of relegation and promotion inevitably has a material impact on the short-term financial results of clubs but the shareholders are comfortable that the medium-term outlook is positive with Premier League revenues growing and the club’s costs continuing to fall.”