Financial accounts for QPR show their 'real ' losses last season were almost £70million - a figure that still leaves them facing a fine of more than £50m . The Football League 's complex Financial Fair Play rules are designed to discourage rich owners buying success and endangering the health of their clubs . A tariff of fines is in place for clubs that massively overspend . Earlier this month QPR announced they had made a loss of £9.8m but the accounts filed at Companies House now prove the smaller loss figure was only possible because of the owners , mainly Tony Fernandes , writing off £60m of old loans in an 'exceptional item ' in the accounts . QPR owner Tony Fernandes was among those to write off £60million of old loans to the London club . QPR 's players get put through their paces in training ahead of Saturday 's game against Crystal Palace . Q : Queens Park Rangers accounts for 2013-14 have now been filed in detail at Companies House . What do they show ? A : They show that the club ’ s ‘ true ’ losses for last season were £69.8m , instead of the £9.8m declared by the club earlier this month . They used an accounting method , an ‘ exceptional item ’ , to count a £60m write-off of loans to the owners as effective income . Their real income was £38.7m . Q : Why does this matter ? A : Because if clubs lose lots of money in the Championship , where QPR played last season , they face potential ‘ Financial Fair Play ’ fines from the Football League . The FFP rules are in place to stop clubs ‘ financial doping ’ and stop them spending themselves to bankruptcy . To simplify : clubs that massively overspend , and lose lots of money as a result , face fans which grow in relation to the overspending . Q : How much fine do QPR face ? A : If they ’ d really lost only £9.8m last season , the fine would have been tiny , perhaps not even a million pounds . But if the real loss is £69.8m , the fine could be as high as £58m , and is likely to be at least £50m . That would be the biggest fine on any club for any reason in global football history . Q : Who will decide ? A : Lawyers , probably . The parties are locked in talks about what happens next . Q : What do QPR say ? A : No comment . Effectively , QPR counted that £60m write-off as extra income . But that money is noted in the accounts as being a 'related-party transaction ' - and the Football League 's own FFP rules explicitly rule out that related party moves of the kind QPR have undertaken . The League rule out such moves in order to prevent 'artificially ' lowered losses . A QPR spokesman told Sportsmail : 'We have no comment . ' A Football League spokesman reiterated an earlier League statement that the League remains in talks with QPR about the situation , but wo n't add details . If the League ultimately rule that QPR 's 'real ' losses are £69.8m , then the FFP fine they potentially face will be £57.9m . QPR will legitimately be able to write off some of that £69.8m as acceptable losses - for youth investment , and some bonuses , for example - but realistically they are looking at a fine of £50m-plus . Yet QPR are locked in legal arguments questioning whether the League have the right to levy any fine at all , and if they do , at what levels . QPR posted losses of £65.4m in the 2012-13 season and it was expected these might fall after cost-cutting in the Championship . But the new accounts show in fact that as QPR 's income plunged from £60.6m in 2012-13 to £38.7m in 2013-14 , there was no significant reduction in the biggest single outgoing - player wages . The wage bill was £78m in the 2012-13 season and £75.4m in 2013-14 in the Championship . Quite how this now plays out remains to be seen : lawyers are likely to remain occupied for weeks if not months or years on both sides . Junior Hoilett ( centre ) has an effort on goal as QPR prepare for a relegation clash at Selhurst Park . Striker Charlie Austin is in discussions over a new £60,000-a-week deal at Loftus Road . QPR could refuse to pay a Football League fine if Chris Ramsey keeps the club in the Premier League . If QPR avoid relegation from the Premier League this season , they can continue to refuse to pay any fine levied and the Football League will not be able to force them to pay while they remain in the Premier League - and outside Football League jurisdiction . The worst-case scenario for QPR is relegation to the Football League while continuing to refuse to pay a fine to the League , who have already said QPR would not be allowed back into the Championship if there was an outstanding fine unpaid . In other words , if QPR do n't pay what the League ultimately demand and go down , they face the nightmare prospect of a drop to non-league football . Their lawyers are believed to be considering all options to prevent this .
QPR announced a loss of £9.8million up to May 2014 earlier this month . Their 'real ' loss was almost £ 70m after £60 m of loans were written off . Comment: They will not be allowed to play in the Championship if they do not pay . But QPR can not be forced to pay while they are in the Premier League . CLICK HERE for all the latest QPR news .