London - English Premier League strugglers Queens Park Rangers on Monday announced a loss of £9.8 million for the year ending May 2014, when they won promotion back to the top flight.
In addition, QPR said £60 million in loans from shareholders had been written off, and the new figures come as something of a boost with the club under threat of a significant fine from the Football League for breaching their Financial Fair Play regulations.
That is because the figures represent a huge reduction from the £65.4 million deficit which was reported in May 2013, with the west London club saying they were able to reduce expenditure by £22 million during a one-season stay in the second-tier Championship.