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QPR's financial performance as worrying as results on the pitch as wages, debt soar

By: The Associated Press

Posted: 03/7/2013 10:27 AM | Comments: 0 | Last Modified: 03/7/2013 12:58 PM

Queens Park Rangers player Loic Remy celebrates scoring against Southampton during their English Premier League soccer match at St Mary's, Southampton, England, Saturday March 2, 2013. Queens Park Rangers won the match 1-2. (AP Photo/PA, Andrew Matthews) UNITED KINGDOM OUT NO SALES NO ARCHIVE

LONDON - Queens Park Rangers' financial plight has become as concerning as its position in the Premier League after the struggling club's latest set of accounts showed a doubling of its wage bill and a rise in debts.

Wages soared from 27.6 million pounds ($41.5 million) to 56 million pounds ($84.2 million) up to the year ending May 31, 2012.

Worryingly for QPR, which is bottom of the Premier League by three points with 10 games left, the figures don't include its outlay in the last two transfer windows, when the club twice broke its transfer record to sign Loic Remy and Christopher Samba. Summer signings Park Ji-sung, Julio Cesar and Jose Bosingwa are also believed to have signed on big wages.

QPR's net debt stands at 88.9 million pounds ($134 million).

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