QPR still splashing the cash under wheeler-dealer Harry Redknapp

QPR were last in the English Premier League and were relegated to the Championship. Manager Mark Hughes found himself sacked and replaced by Harry Redknapp partway through the season, but not even his magic touch was enough to keep Rangers up.

Before the 2012-13 campaign, QPR was not only confident of survival, but were targeting a top-10 finish considering the money invested into the squad.

Certainly the stats are mind boggling when assessing QPR’s 2012/13 season off the field. Overall turnover with match day revenue, sponsorship and television revenue had them ranked 18th in the league. Despite this they had a wage bill ranked seventh in the league.

Certain reports suggested QPR had a financial loss in excess of £60 million, and this figure could have blown out even more in the coming year had they not secured EPL status via a playoff win over Derby.

When Redknapp took over as manager he made it clear that the financial model at QPR was simply not sustainable. Loftus Road holds 18,000 people, QPR could not be paying extraordinary wages based on their turnover. Owner Tony Fernandes certainly still took the risk with January investment to try and keep QPR in the division during the 2012-13 season.

Players such as Loic Remy joining for £8 million and players such as Christopher Samba at a cost of £12.5 million and wages of over £100,000 per week. At the time Samba was the 27th player to sign in less than 18 months since Fernandes owned the club. When players are not performing change is inevitable, but good teams have a sense of stability that was missing at QPR.

As the transfer window closed this week it would not have been a transfer window without the media surrounding Harry Redknapp on the final day as he drove in and out of the QPR training ground. In typical Harry fashion some late signings were made with the additions of Sandro on a permanent deal and Niko Kranjkar on loan.

As usual Harry tried to tie up other late deals that fell through, some deals such as Jermaine Defoe are expected to be resurrected in the January transfer window. But has QPR learnt from previous mistakes and do they have the quality to remain in the league?

In fairness QPR has tried to clear some of the debt and wages on their books. Huge earners in the last 12 months, players such as Jose Bosingwa and Julio Cesar have left. Loic Remy was sold to Chelsea and players such Adel Taarabt loaned out.

It is always vital for teams coming up from the Championship to strengthen their squad. History shows that often two out of the three teams promoted go straight back down again. Certainly the approach of QPR has divided public opinion.

A player like Rio Ferdinand is a prime example. Some people view his addition to the squad as a smart move. A player who has experience playing at the top level and has been involved in winning titles in a successful team and culture. Cynics view his signing as an over-the-hill 35-year-old on wages that could be spent better elsewhere or not spent at all.

QPR are fortunate to have the backing of Tony Fernandes, otherwise they could have been facing a Portsmouth type situation. Time will tell if QPR have got things right on their return to the EPL.

It will be interesting come January if they are hovering around the relegation zone, do QPR back the players they have, or will they be splashing the cash again? One thing is for sure, things are never dull with QPR in the English Premier League.