QPR's FFP case unlikely to reach conclusion until 2016, admits Hoos
PUBLISHED: 10:00 14 October 2015 | UPDATED: 13:00 14 October 2015
QPR's chief executive Lee Hoos does not expect the club's ongoing Financial Fair Play case to be resolved until the new year.
The west London outfit continue to contest the validity of the Football League’s charges, incurred two years ago while the club were in the Championship.
FFP regulations were introduced in 2012 to “reduce the levels of losses being incurred at some clubs and, over time, establish a league of financially self-sustaining professional football clubs”.
For the period in question Rangers recorded losses of £9.8million, although that included a one-off £60m income injection labelled as an “exceptional item” in the accounts, which was to write off loans. This therefore meant the club’s operating loss for the 2013-14 season was £69.8m.
Despite this Rangers remain hopeful they will not be stung with a hefty fine, with lawyers working on their behalf to resolve the situation as quickly as possible, although Hoos - who took over as CEO from Philip Beard back in May - has admitted that the Rs’ are no close to reaching an agreement with the Football League.
Hoos told the Times: “It’s an ongoing process with the Football League. If we agree on something outside of a tribunal then great, but if not we’ll deal with it in a manner we see fit.
“We’re still in the process of gathering witness statements and testimonies. I can’t see it being resolved this side of Christmas.
“I’m not a big fan of paying out lots of money to lawyers, but it’s an ongoing investigation so we have to continue with that process.
“Part of my biggest challenge in my role at this club is to bring revenue in and expenses down. Right now we still have significantly greater expenses than revenue, but we’ve certainly made a start in resolving that.”
Elsewhere, Hoos remains hopeful the club will eventually secure a location for a new training ground, but concedes there are still various obstacles to overcome in their bid to obtain the Warren Farm base.
The Championship side recently announced that they had been granted planning permission for their prefered location in Southall after submitting a revised application.
Last week the plans were also given the go-ahead from the Mayor’s Office, giving Rangers renewed hope they will secure a move from their Harlington training base in the near future.
Hoos remains upbeat but cautious over the chances of this going ahead adding: “We’re not quite there yet with Warren Farm. We’ve got the planning permission but it’s still subject to go to a policy committee. The big thing for us remains the objectors, who we know want to scupper our plans.
“A new training ground is at the top of my priorities. If you’ve got to make a choice between investing in your training ground or your stadium, for me it always has to be the former. “This is where the players spent the vast majority of their time after all, while they only play at the ground on most occasions once a fortnight.
“A strategic priority for me is getting that sorted out as soon as possible. It means we can attract a good calibre of players, develop their game and increase their value in the meantime. Quite simply we’ve got to have a new training ground.”