QPR have managed to reduce their losses in part thanks to a £9m sell-on fee they received from Raheem Sterling's move to Manchester City

The west London club have appealed to an independent arbitration panel regarding their case and have made progress

QPR's Financial Fair Play fine for breaching spending rules in the 2013-14 season in the Football League is likely to be as little as £10million – and could even come in less than that amount.

Negotiations have continued all summer between the club and the Football League following QPR's relegation from the Premier League and an independent arbitration panel is due rule on the legality of the rules.

But under the original rules QPR's losses appeared so huge that they could have been fined £58m, meaning a saving of almost £50m will be regarded as a major success for the club and cause friction with other Championship club, who have called for a strict application of the of rules.

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QPR chairman Tony Fernandes watches his side play Hull City in the Premier League match earlier this year

QPR declared a loss of £9.8m for the season but owner Tony Fernandes and his business partners had injected another £60m into the club to minimise the headline figure, a move which Football League officials maintained broke the rules.

However, given that all Football League clubs have since made the rules less restrictive since the original application in 2013-14, it always seemed as though QPR would have a good case for minimising their punishment.

Given that QPR have already earned £9m from Raheem Sterling's £49m move to Manchester City thanks to a sell-on clause and can expect to earn around £25m more if Charlie Austin and Leroy Fer are sold before the end of the transfer window, the club now appear to have stabilised their finances, having also seen big earners such as Rio Ferdinand, Joey Barton and Shaun Wright-Phillips leave over the summer.

Hoops striker Charlie Austin could be sold this summer and help the club to recoup some money