QPR boss Tony Fernandes has promised that the club’s owners are committed to staying at the Championship outfit for the long term despite announcing the biggest losses by any English club last season.

QPR lost £65.4m last season, when the club was relegated from the Premier League, while their debt almost doubled to £177m.

Their financial situation puts them at risk of facing huge fines due to the Football League’s financial fair play rules.

Fernandes said: “Relegation wasn’t part of the plan and it has cost us financially and emotionally, but I and my fellow shareholder are fighters. We are committed and here for the long term.”

He said that having built up the squad there was no need to invest more money. Fernandes also insisted that promotion back to the Premier League this season was not vital.

He added: “Achieving promotion this season is not critical to our long-term strategy, but it remains our short-term goal.”

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