QPR 'challenge legality' of Football League FFP regulations

QPR players
QPR lasted just one season in the Premier League before being relegated

Queens Park Rangers revealed they have begun legal proceedings against the Football League, a day after being relegated from the Premier League.

The club say they are challenging "the legality of the Championship Financial Fair Play rules", which could leave them facing a fine of up to £58m.

Rangers said any charge for breaching the rules would not begin until the outcome of their challenge was known.

Their relegation was confirmed by Sunday's 6-0 loss at Manchester City.

In March, the club announced losses of £9.8m, but £60m worth of loans were written off by owner Tony Fernandes and other shareholders.

A failure to pay any fine imposed could see the London side being refused entry into the Championship.

Football League Financial Fair Play
Championship clubs were permitted losses of £8m (£5m funded by shareholders) in 2013-14.
Clubs promoted back to the Premier League who exceeded those losses are subject to a fine.
There is a sliding scale on the next £10m of losses, with a maximum fine of £6.681m.
Once losses exceed £18m, the fine is imposed on a strict pound-for-pound basis.
Should there be an overall loss of £30m, the fine would be almost £19m. If it was £50m, the figure would be nearly £39m.