Club finances · statutory accounts
QPR finances
- Reporting entity
- QPR Holdings Limited
- Division
- Championship (this season)
- Latest period
- Year to 31 May 2025 (FY2025 · the 2023/24 season, in the Championship)
- Company number
- 03197756
- Accounts
- Consolidated (whole group)
- Filed
- 17 February 2026
These figures come from the accounts the club files by law at Companies House. Anything a filing does not disclose is shown as Not disclosed — FixtureShark never estimates it. Read the original FY2025 filing.
In brief
In the year to 31 May 2025, QPR brought in revenue of £28m, up from £25.9m the year before. The club made an operating loss of £20.8m and ended the period with net liabilities of £71.3m.
More revenue is not the same as financial health: read it alongside profit or loss, cash and net assets.
FY2025 at a glance
Revenue
£28m
£28,028,000
Operating loss
£20.8m
£20,793,000
Loss before tax
£20.1m
£20,051,000
Cash
£1.91m
£1,906,000
Borrowings
£16.4m
£16,384,000
Net liabilities
£71.3m
£71,341,000
Average employees
176
Over time
† These years are not directly comparable with the years either side, so they are shown hatched and no trend is drawn through them:
- FY2020: restated or reclassified in later accounts, or a one-off break in the figures.
- FY2021: restated or reclassified in later accounts, or a one-off break in the figures.
Hatched: not directly comparable with the years either side.
Bigger is not automatically healthier.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | £18.3m |
| FY2021 † not comparable | £14.5m |
| FY2022 | £22.1m |
| FY2023 | £23.3m |
| FY2024 | £25.9m |
| FY2025 | £28m |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | Loss before tax £16.4m |
| FY2021 † not comparable | Loss before tax £4.53m |
| FY2022 | Loss before tax £24.7m |
| FY2023 | Loss before tax £20.3m |
| FY2024 | Loss before tax £13.5m |
| FY2025 | Loss before tax £20.1m |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | £1.13m |
| FY2021 † not comparable | £8.74m |
| FY2022 | £8.1m |
| FY2023 | £1.86m |
| FY2024 | £2.23m |
| FY2025 | £1.91m |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | Net liabilities £50.2m |
| FY2021 † not comparable | Net liabilities £36.4m |
| FY2022 | Net liabilities £49.6m |
| FY2023 | Net liabilities £56.9m |
| FY2024 | Net liabilities £64.8m |
| FY2025 | Net liabilities £71.3m |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | 153 |
| FY2021 † not comparable | 171 |
| FY2022 | 191 |
| FY2023 | 189 |
| FY2024 | 176 |
| FY2025 | 176 |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | £20m |
| FY2021 † not comparable | £24.1m |
| FY2022 | £27.6m |
| FY2023 | £25.4m |
| FY2024 | £23.8m |
| FY2025 | £27.5m |
Every year
| Figure | FY2020 †Champgroup | FY2021 †Champgroup | FY2022Champgroup | FY2023Champgroup | FY2024Champgroup | FY2025Champgroup |
|---|---|---|---|---|---|---|
| Revenue | £18.3m | £14.5m | £22.1m | £23.3m | £25.9m | £28m |
| Matchday revenue | £4.04m | £207k | £5.61m | £5.7m | £6.95m | £6.83m |
| Broadcast revenue | £8.43m | £8.56m | £9.19m | £8.84m | £9.26m | £11.8m |
| Commercial revenue | £4.61m | £4.37m | £6.14m | £6.23m | £8.24m | £8.51m |
| Other revenue | £1.22m | £1.39m | £1.19m | £2.52m | £1.44m | £933k |
| Staff costs | £20m | £24.1m | £27.6m | £25.4m | £23.8m | £27.5m |
| Operating profit or loss | -£17.1m | -£21.1m | -£24.2m | -£22.2m | -£15.2m | -£20.8m |
| Profit or loss before tax | -£16.4m | -£4.53m | -£24.7m | -£20.3m | -£13.5m | -£20.1m |
| Profit or loss after tax | -£16.4m | -£4.53m | -£24.7m | -£20.3m | -£13.5m | -£20.1m |
| Player amortisation | £598k | £1.43m | £3.55m | £3.06m | £1.59m | £2.47m |
| Profit or loss on player sales | £5.99m | £17.6m | £221k | £1.05m | £2.19m | £2.26m |
| Cash | £1.13m | £8.74m | £8.1m | £1.86m | £2.23m | £1.91m |
| Borrowings | £0 | £9.08m | £16.6m | £16.4m | £16.4m | £16.4m |
| Total assets | £22.5m | £49m | £46.9m | £50.9m | £54.9m | £60.3m |
| Total liabilities | £72.7m | £85.4m | £96.5m | £107.7m | £119.6m | £131.7m |
| Net assets or liabilities | -£50.2m | -£36.4m | -£49.6m | -£56.9m | -£64.8m | -£71.3m |
| Average employees | 153 | 171 | 191 | 189 | 176 | 176 |
| Staff costs as a share of revenue FixtureShark-derived | 109% | 166% | 125% | 109% | 92% | 98% |
- — Not disclosed in that year’s filing. A disclosed zero is shown as £0.
- Under each year: the division the club played in that season (Champ Championship); then group for consolidated accounts of the whole group, or company for the club company alone.
- Negative figures, in red, are losses or net liabilities.
- † Not directly comparable with the years either side.
- Rows marked FixtureShark-derived are calculated by FixtureShark from the filed figures; everything else is as filed.
- Not disclosed in any period: Player impairment.
Sources and definitions
Where each figure comes from
Total revenue/turnover reported for the period.
| Year | Published | Concept | As filed | Filing | Mapping | Document |
|---|---|---|---|---|---|---|
| FY2020 † | £18,299,000 | pdf:Turnover | 18,299 GBP | AA-2021-05-21 | v3 | Filing |
| FY2021 † | £14,520,000 | pdf:Turnover | 14,520 GBP | AA-2022-02-09 | v3 | Filing |
| FY2022 | £22,124,000 | pdf:Turnover | 22,124 GBP | AA-2023-02-27 | v3 | Filing |
| FY2023 | £23,281,000 | pdf:Turnover | 23,281 GBP | AA-2024-02-19 | v3 | Filing |
| FY2024 | £25,891,000 | pdf:Turnover | 25,891 GBP | AA-2025-02-21 | v3 | Filing |
| FY2025 | £28,028,000 | pdf:Turnover | 28,028 GBP | AA-2026-02-17 | v3 | Filing |
“As filed” is the value as it appears in the filing — its machine-readable (iXBRL) data where there is any, otherwise the printed statements and notes (concepts starting pdf:), where a figure built from several printed lines shows the sum. A dash means the filing did not disclose this figure. The mapping version records which rule turned the filed concept into this figure.
What each figure means
- Revenue
- Total revenue/turnover reported for the period.
- Matchday revenue
- Revenue attributable to matchday activities where separately disclosed.
- Broadcast revenue
- Revenue attributable to broadcasting/media rights where separately disclosed.
- Commercial revenue
- Revenue attributable to commercial activities where separately disclosed.
- Other revenue
- Other revenue not included in the principal disclosed categories.
- Staff costs
- Total staff/employee costs reported for the period.
- Operating profit or loss
- Operating profit or loss reported for the period.
- Profit or loss before tax
- Profit or loss before taxation.
- Profit or loss after tax
- Profit or loss after taxation for the financial period.
- Player amortisation
- Amortisation of player registrations/intangible player assets.
- Profit or loss on player sales
- Profit recognised on disposal of player registrations.
- Cash
- Cash and cash equivalents at the reporting date.
- Borrowings
- Interest-bearing borrowings disclosed at the reporting date; definition excludes derived net debt.
- Total assets
- Total assets at the reporting date.
- Total liabilities
- Total liabilities at the reporting date.
- Net assets or liabilities
- Net assets/equity at the reporting date.
- Average employees
- Average number of employees during the reporting period.
- Staff costs as a share of revenue (FixtureShark-derived)
- Staff costs divided by total revenue.