EPL Queens Park Rangers Chair Tony Fernandes has "strongly defended the club’s spending" in the January transfer window and denied he has acted "recklessly" insisting there is a "sensible" business plan in place, according to Jason Burt of the London TELEGRAPH. Fernandes said that if QPR was relegated from the Premier League it would "not lead to a financial meltdown." Fernandes said, "I’m an accountant, I run businesses. We are sensible with what we are doing." Fernandes also claimed that the club’s wage bill "had actually been reduced in January," because of the number of players who had gone out on loan despite the arrival of high-earners Christopher Samba, for £12.5M ($19.7M), and Loïc Rémy for £7M ($11M). Fernandes: "If you analyze it, we haven’t spent that much money on transfers, and as for our wage bill, when I look at other clubs when they put their results out then ours is not too bad, and there is now value in the squad." Nevertheless, he conceded owning a football club was a "gamble" (TELEGRAPH, 2/2). In London, David Kent reported Fernandes has "vowed to maintain his financial backing of the club even if he steps down as chairman." Fernandes wrote on his Twitter account, "I take all responsibility and will face the music... If can't fix it I will be first to go." Asked if he was planning to step down, Fernandes said, "At the moment, no" (DAILY MAIL, 2/3).
