QPR "should be fine for FFP" and have reduced their operating losses from £22 million to £12 million in 2019, according to Kieran Maguire of the PriceOfFootball.
The West London club have struggled with financial issues in recent seasons and have found their operating in the transfer market heavily restricted this season.
The R's were forced to sell midfielder Massimo Luongo in the summer and were unable to stop Bristol City swooping for on-loan striker Nahki Wells in January.
Maguire has provided an update on the R's finances on Twitter and revealed they had made some positive steps.
His report reveals that the West London club spent no money on signing players last season, had player sales of £3.9 million and reduced their wage bill by 25% in 2019.
Maguire added: "Some people are calling the club the Spurs of West London."
The club's average wage was £11,000 per week last season, lower than the division's average of £16,000, meaning they had the third-lowest ratio of wages to income in 2019 – for every £100 of income they paid out £69 of wages.
It is understood that QPR's operating losses are moderate by Championship standards.
He revealed that though the club do have cash in the bank, they're unable to pay the debts they owe and are reliant on their owners to continue trading.
The club's owners lent them £11.4 million in 2019 but parachute payments still make up 64% of their income, which will drop in the coming year.
When pressed on how their progress fits within EFL frameworks, Maguire replied: "Yes, should be fine for FFP".
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The Verdict
This seems like great news from a QPR standpoint as the club are making positive steps to put right the financial situation.
Some of the dealings in the transfer market, particularly losing Wells in January, will have been frustrating as the club was effectively helpless.
However, they have continued to play an exciting, attacking brand of football under Mark Warburton and with players like Ebere Eze and Bright Osayi-Samuel, there is certainly lots to be positive about.
The FFP update will also be music to the ears of QPR fans, particularly given the issues some Championship clubs are facing.