Queens Park Rangers have agree on a settlement amount of £42 million with the EFL. An arbitration panel ruled out QPR’s claims that Financial fairplay rules are unlawful.
The settlement that QPR are to pay includes a fine of £17 million, a payment of £3 million to cover EFL’s legal costs and £22 million to pay outstanding loans. The club will also be banned for the 2019 January transfer window. QPR have agreed to pay the amount within 10 years.
Back in 2014, Queens Park Rangers broke their spending limit when they were promoted back to the Premier League. Their expenditure was £75 million which was 195% of their £38.6 million turnover.
The club’s CEO Lee Hoos said, “QPR felt it was best to put this matter behind them to enable all parties to have certainty and allow us to continue focusing on running the Club in a sustainable manner, going forward.”
The settlement that the West London club have to pay is the second with Bournemouth having to pay a fine of £4.75 million for spending above limit when they were promoted to the Premier League in 2014-15.