Money problems may help Newcastle land striker

The financial crisis engulfing Queens Park Rangers is almost certain to help Newcastle in a bid for Loic Remy, according to Chronicle Live.

The London club are likely to have to sell their entire first team, even if they win promotion out of the Championship – a scenario that is far from certain.

Last week, QPR confirmed losses of more than £65million for last season.

The club spent over £40million on new players in a bid to avoid relegation, including the £8million signing of Remy last January.

It was a risk that backfired, with the club’s losses almost trebling, as well as their net debt virtually doubling from £91.4m to £177.1m, while turnover dropped from £64m to £60.6m.

Incredibly, wages rose from £58.5m to £78m.

QPR look set to be hit with a transfer embargo under the Football League Financial Fair Play rules if they cannot sort out their finances.

And, ironically, they could be in even more danger if they do gain promotion. The Premier League FFP could see them hit with a fine in excess of £50m.

QPR chairman Tony Fernandes admitted his club will be forced to sell in the summer.

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

“If we fail, 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.”

Newcastle are almost certain to make an offer to sign Remy on a permanent deal, with the French striker having scored 13 times at St James’ Park this season.


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