Reports have suggested that Queens Park Rangers could be hit with a British record fine for losses that they may incur during the current business year.

Under the new Financial Fair Play rules, once red figures are in excess of £18m, the Football League will charge £1 for every £1 lost.

According to the Daily Mail, the West London club will turn over accounts detailing a deficit of around £80m for 2012-13 next spring, which would have warranted a fine of around £62m.

With similar numbers expected to follow this year, a Football League spokesman told the newspaper: "This is the first season (2013-14) in which clubs will ultimately face sanctions [for over-spending].

"Clubs have to submit their accounts to us by December 1, 2014, with sanctions levied early in 2015.

"If a club being sanctioned are in the Premier League by then, the fine will need to be paid."

QPR's last published accounts - the year before their relegation from the Premier League - show a loss of £22.6m, with debts of £89m and a wage bill totalling £58.4m.

However, a massive intake of players on inflated contracts has led to reports that the wage bill last season was around £90m, which would be 150% of the club's total income that year (£65m).