Queens Park Rangers Suffer $34M Loss In Return To Top Flight
Queens Park Rangers Holdings Ltd. published accounts revealed that the club lost £22.6M ($34M) during its first season back in the Premier League, according to Andy Hodgson of the London EVENING STANDARD. Although the figure was £3M ($4.5M) down from its final season in the Championship, "turnover soared" from £16M ($24.1M) to £64M ($96.4M). Debt has increased from £56M ($84.3M) to £89M ($134M). The deficit for the '11-12 season "was in part due" to spending £25M ($37.7M) on new players and the club "face another big loss this season having splashed out" more than £30M ($45.2M) on signings in the last two transfer windows (EVENING STANDARD, 3/6).