Queens Park Rangers is facing a possible £60 million ($103 million) fine from the Football League, according to a newspaper report.
Source
PA Sport
18 Nov 2013 - 3:44 AM  UPDATED 18 Nov 2013 - 8:12 AM

The Mail on Sunday claims the west London club made a loss of £80 million ($137 million) during the 2012-2013 English Premier League season, which ended in relegation to the Sky Bet Championship, after signing dozens of players on expensive contracts.

Christopher Samba,
Park Ji-sung,
Julio Cesar, Jermaine Jenas and
Loic Remy - who apart from Samba all remain on QPR's payroll - are among the players who have reportedly earned salaries of over £100,000 ($172,000) per week in recent seasons.

The Football League's new Financial Fair Play (FFP) rules will see overspending clubs taxed for their losses, with Championship clubs paying a £1 fine for every £1 they lose over £18 million ($31 million) in the 2013-2014 financial year.

QPR can expect to receive a sizeable fine in January 2015 should it be promoted to the top flight at the end of the current season. The club could, however, temporarily avoid a fine if it fails to win promotion.

Quoted in the Mail on Sunday, a Football League spokesman said: "This is the first season in which clubs will ultimately face sanctions (for overspending).

"Clubs have to submit their accounts for 2013-2014 to us by December 1, 2014, with sanctions levied early in 2015. If a club being sanctioned is in the Premier League by then, the fine will need to be paid."

QPR's accounts for 2012-2013 have not yet been made public and the club was unavailable for comment when contacted on Sunday morning by Press Association Sport.

Harry Redknapp's side is currently third in the Championship table and tied on points with Leicester City for the second automatic promotion place after 15 games.