QPR Post Loss Of £9.8m For Year
Mon 2nd Mar 2015 | Money & Finance
QPR have filed its accounts for the year ending May 2014 showing d a loss of £9.8m.
Sitting in 17 position in the Premier League, QPR have seen expenditure reduced by £22m, mainly driven by lower player costs; a trend they will continue in future years as the club continues to bring losses down.
Also noted in the accounts is the reiteration of the club’s shareholders long term support by writing off £60m of shareholder loans to help strengthen the club’s balance sheet.
The statement relased by the club today (Monday) read: 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.
The club will be making no further comment.
Posted by: Aaron Gourley
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