Queens Park Rangers chairman Tony Fernandes has ruled out any more big spending if the club don’t gain promotion this season, as reported by the club’s official site.

Rangers announced a debt of £65million for 2013 on Thursday and that is set to increase with the lack of top flight income this season; however the majority of money is owed to shareholders by the shareholders.

Boss Harry Redknapp has been mega busy in all three of the transfer windows that he has been in charge for at Loftus Road and has spent big money, firstly to try and keep QPR in the Premier League and then to get them back there.

After a poor run of form, QPR are now resigned to finishing in the play offs and huge doubts remain over their chances of promotion.

Fernandes wants to curb the spending but achieve their goals at the same time.

“Promotion back to the Premier League is a major challenge, but one we are committed to,” Fernandes said.

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

“If we fail in our bid for promotion, the support is there and there is no need for any more advances to build a squad.

“We are now in a position where we can work with what we have, and raise capital to invest in the squad by selling players who are not part of the manager’s plans.”

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