<text>  Financial accounts for QPR show their real losses last season were almost 70million - a figure that still leaves them facing a fine of more than 50m. The Football Leagues complex Financial Fair Play rules are designed to discourage rich owners buying success and endangering the health of their clubs. A tariff of fines is in place for clubs that massively overspend. Earlier this month QPR announced they had made a loss of 9.8m but the accounts filed at Companies House now prove the smaller loss figure was only possible because of the owners, mainly Tony Fernandes, writing off 60m of old loans in an exceptional item in the accounts. QPR owner Tony Fernandes was among those to write off 60million of old loans to the London club . QPRs players get put through their paces in training ahead of Saturdays game against Crystal Palace . Q: Queens Park Rangers accounts for 2013-14 have now been filed in detail at Companies House. What do they show? A: They show that the clubs true losses for last season were 69.8m, instead of the 9.8m declared by the club earlier this month. They used an accounting method, an exceptional item, to count a 60m write-off of loans to the owners as effective income. Their real income was 38.7m. Q: Why does this matter? A: Because if clubs lose lots of money in the Championship, where QPR played last season, they face potential Financial Fair Play fines from the Football League. The FFP rules are in place to stop clubs financial doping and stop them spending themselves to bankruptcy. To simplify: clubs that massively overspend, and lose lots of money as a result, face fans which grow in relation to the overspending. Q: How much fine do QPR face? A: If theyd really lost only 9.8m last season, the fine would have been tiny, perhaps not even a million pounds. But if the real loss is 69.8m, the fine could be as high as 58m, and is likely to be at least 50m. That would be the biggest fine on any club for any reason in global football history. Q: Who will decide? A: Lawyers, probably. The parties are locked in talks about what happens next. Q: What do QPR say? A: No comment. Effectively, QPR counted that 60m write-off as extra income. But that money is noted in the accounts as being a related-party transaction - and the Football Leagues own FFP rules explicitly rule out that related party moves of the kind QPR have undertaken. The League rule out such moves in order to prevent artificially lowered losses. A QPR spokesman told Sportsmail: We have no comment. A Football League spokesman reiterated an earlier League statement that the League remains in talks with QPR about the situation, but wont add details. If the League ultimately rule that QPRs real losses are 69.8m, then the FFP fine they potentially face will be 57.9m. QPR will legitimately be able to write off some of that 69.8m as acceptable losses - for youth investment, and some bonuses, for example - but realistically they are looking at a fine of 50m-plus. Yet QPR are locked in legal arguments questioning whether the League have the right to levy any fine at all, and if they do, at what levels. QPR posted losses of 65.4m in the 2012-13 season and it was expected these might fall after cost-cutting in the Championship. But the new accounts show in fact that as QPRs income plunged from 60.6m in 2012-13 to 38.7m in 2013-14, there was no significant reduction in the biggest single outgoing - player wages. The wage bill was 78m in the 2012-13 season and 75.4m in 2013-14 in the Championship. Quite how this now plays out remains to be seen: lawyers are likely to remain occupied for weeks if not months or years on both sides. Junior Hoilett centre has an effort on goal as QPR prepare for a relegation clash at Selhurst Park . Striker Charlie Austin is in discussions over a new 60,000-a-week deal at Loftus Road . QPR could refuse to pay a Football League fine if Chris Ramsey keeps the club in the Premier League . If QPR avoid relegation from the Premier League this season, they can continue to refuse to pay any fine levied and the Football League will not be able to force them to pay while they remain in the Premier League - and outside Football League jurisdiction. The worst-case scenario for QPR is relegation to the Football League while continuing to refuse to pay a fine to the League, who have already said QPR would not be allowed back into the Championship if there was an outstanding fine unpaid. In other words, if QPR dont pay what the League ultimately demand and go down, they face the nightmare prospect of a drop to non-league football. Their lawyers are believed to be considering all options to prevent this. 