MX23RW : Tuesday, October 23 01:41:13

Queens Park Rangers handed transfer ban for Financial Fair Play breach

QPR handed transfer ban for FFP breach
© Reuters
Queens Park Rangers are placed under a transfer embargo for the January 2019 window and made to pay a £42m settlement after breaching Financial Fair Play regulations.

Queens Park Rangers have agreed a settlement of £42m with the English Football League after being found guilty of breaching Financial Fair Play regulations.

The Championship side will pay a £17m fine, £3m in legal costs and write off £22m worth of outstanding loans, while also being placed under a transfer embargo for the January 2019 window.

QPR are expected to be granted a 10-year period by the EFL to pay back the full amount, which relates to their failure to comply with financial restrictions in winning promotion to the Premier League four years ago.

Chief executive 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 London outfit have offloaded six players during the summer transfer window, including goalkeeper Alex Smithies to Cardiff City for £3.5m.

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A general view prior to the Barclays Premier League match between Queens Park Rangers and West Ham United at Loftus Road on April 25, 2015
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