Friday, March 07, 2014

QPR set to axe 26 players

Queens Park Rangers are planning a clear-out of up to 26 players after recording a £65.4million loss.

Tony Fernandes’s arrival at the club in August 2011 heralded a period of heavy spending but big-money signings such as Loic Remy, Park Ji-sung, Julio Cesar and Junior Hoilett have not brought success, while relegation has left QPR facing financial meltdown.

They now face major ramifications under the Football League’s Financial Fair Play rules, which could see them fined £40m if they are promoted or placed under a transfer embargo if they fail to go up.

More than 20 players - including high-earners Shaun Wright-Phillips, Jermaine Jenas, Robert Green, Aaron Hughes, Richard Dunne and Bobby Zamora - will see their contracts or loan periods expire this summer.

Those contracted to the club will be released or offered new contracts on significantly reduced terms.

QPR will also look for permanent buyers for Remy, Adel Taarabt, Stephane Mbia, Esteban Granero, Samba Diakite and Cesar, all of whom are out on loan.

The club have reported a net debt of £177m, up from £91.4m the previous year. Turnover dropped from £64m to £60.6m but wage costs soared from £58.5m to £78m as staff numbers increased from 130 to 164.

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