The Mail on Sunday claims the west London club made a loss of £80million during the 2012-13 Barclays Premier League season, which ended in relegation to the Sky Bet Championship, after signing dozens of players on expensive contracts.
The newspaper stated: "New rules that aim to limit club losses come into force this season and Championship clubs will be forced to pay a 'fair play tax' on financial deficits.
"QPR are believed to have lost B£80m in the 2012-13 season. That figure will be an indicator of losses in the current season."
"If promoted, QPR will be hit with a fine of B£1 for every B£1 loss over B£18m in 2013-14. They could avoid a fine, or at least postpone it, if they fail to get promoted."
"In that case, they will be hit with a lengthy transfer embargo."
Fernandes, who is the majority shareholder at QPR, posted a response to the piece on his Twitter account, which said: "QPR fans, please ignore article.
"Shows how big our brand has become that people need to write stories that are just not accurate. Stay focused on getting back to the Premier League."
- Sports & Recreation
- Barclays Premier League