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Mar 26, 2013

Fernandes eases QPR financial fears

Queens Park Rangers owner Tony Fernandes has insisted he has no fears over the club's financial future should they be relegated from the Premier League.

• Blog: Believe in the QPR regime

This month, the West London club's accounts revealed their debt has risen from £56 million to £89 million, in spite of their promotion to the top flight.

The newly-published accounts for the year ending May 31, 2012 also showed that the QPR wage bill almost doubled from £27.6 million to £58.5 million, resulting in a wages-to-revenue ratio of 90%.

After a summer transfer window of spending money on new signings and also further reinforcements made in January, there are concerns over how the bottom-of-the-table club would cope if they return to the Championship.

But when asked whether he feared relegation, Fernandes is quoted in the Independent as saying: "No fear at all. If we went down, we would just have to come back up.

"Our wage bill is a lot lower than being quoted. It has been blown out of proportion. We are not that far away from [operating within] Financial Fair Play anyway."

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