London - Premier League Queens Park Rangers could face a fine of up to £58 million for breaking Football League regulations on financial fair play, British media reported on Friday.
QPR could be sanctioned despite claiming that their financial losses from last season had been greatly reduced.
A story in the Daily Telegraph said that although £60 million pounds in loans had been written off, mostly by owners including Malaysian entrepreneur Tony Fernandes, that amount would still count towards their losses for the 2013/14 season.
It would be regarded as a "related-party transaction" and would mean QPR's losses for that season stood at £69.8 million pounds.
Under the FL's rules, clubs were allowed losses of £8 million pounds in 2013/14, with fines on losses above £18 million imposed on a pound-for-pound basis, leaving QPR potentially facing what is believed to be the highest fine ever imposed on a sports club.
QPR were promoted back to the Premier League last season, having lost £65.4 million the year before.
A Football League spokesperson said: "We are in ongoing discussions."
Queens Park Rangers refused to comment.