QPR vow to fight £50m fine for breaking FFP rules after securing £134m Premier League place

Queens Park Rangers co-owner Tony Fernandes has confirmed the club will fight the prospect of a £50million fine.

Sportsmail revealed on Saturday how QPR chiefs had started seeking legal advice in preparation for a costly courtroom battle as they plan to fight sanctions for breaching Football League Financial Fair Play regulations.

Celebration: Joey Barton carries QPR owner Tony Fernandes after beating Derby to secure promotion

In March, the club posted a staggering £65.4million loss for the year ending May 2013. Under the rules, clubs are only entitled to make an £8million loss per season.

After clinching promotion by beating Derby 1-0 in the Championship play-off final, Rangers are now facing a fine of up to £50million for breaking the financial guidelines.

But Fernandes has confirmed the newly-promoted club will fight the sanctions in the law courts.

'Will we fight the fine? What do you think? After all we've been through, it's my middle name – Fight It Fernandes,' he said

Relief: QPR owner Tony Fernandes celebrates with the fans at Wembley Stadium

'My view is consistent, that it is very unfair for a club that has been relegated as the wage difference between the Premier League and Championship is impossible. There should be a period for clubs to rectify their salaries.

'If we were in the Championship in two years with that wage bill it wouldn't be right. I'm in favour of FFP but it is unfair for a club coming down.' 

The club will not be punished for their financial results during the 2012/13 season - but will for the current campaign.

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Rangers are not required to reveal those figures until December - but given they recorded a £65.4million loss, it seems hugely unlikely that they'll be able to reel in their deficit to the £8million threshold.

And it is understood the club have already opened dialogue with their lawyers as they plot a way to fight against a crippling fine.

The threat of financial sanctions will play a significant role in the club's summer spending plans.

Even with the prospect of a £134million cash injection, Rangers sources insists the club will not embark on the extravagant spending that has left the club facing financial meltdown.