QPR's debt has rocketed to £177m after the club lost £65.4m last season, when it was relegated from the Premier League.

Loans from QPR's owners totalling £72.7m plus a short-term bank loan of £15m have seen the club's debts spiral to £177m from £91m in the space of 12 months. Wages rose from £58.4m in 2011/12 to £78m last season.

Even more worrying, the club's overall turnover was only £60.6m - most of that coming from Premier League TV money - which does not even cover their wage bill.

The figures mean that QPR could find themselves facing a large fine and a transfer embargo under the Football League's financial fair play rules, unless the club wins promotion back to the Premier League.