- QPR have filed its account for the year ending May 2014
- Club posted a loss of £9.8m for the year
- Expenditure was reduced by £22m
- Shareholders write off £60m of shareholder loans
QPR filed its accounts for the year ending May 2014 showing the club posted a loss for the year of £9.8m. 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. 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.
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