Tony Fernandes, Queens Park Rangers facing staggering debt and losses

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Queens Park Rangers in financial trouble? Nobody saw that coming! Oh wait…

Following last year’s exorbitant spending spree with the hopes of keeping QPR in the Premier League, the club has announced staggering financial numbers.

Chief owner Tony Fernandes is faced with a knee-buckling $296 million club debt, increasing from $152 million this same time last year.

Those incredible numbers are reportedly due to a massive $121 million loan from the owners that was injected to help save the club’s Premier League status.

Despite shelling out transfer fees of $20.8 million for Chris Samba and $14.6 million for Loic Remy, the attempt failed and they were unable to stave off relegation.

The wage bill also increased massively (from $97 million to $130 million) during that time, in part thanks to the acquisition of players such as Julio Cesar, Ji-Sung Park, Jose Boswinga, Esteban Granero, and Andy Johnson.

Rangers only reported earnings of $101 million, mostly from Premier League television payouts.

The news will not just have an affect on Fernandes’s wallet; according to the Telegraph, QPR would face a lengthy transfer embargo under the new Financial Fair Play rules if they remain in such massive debt.

In addition, they would reportedly be facing fines up to $83.6 million in addition to a possible embargo.  The Financial Fair Play rules are meant to push clubs to sustain a relatively equal level of income and expenditure.

The situation reeks of the same red flags leading to Portsmouth’s untimely demise a few years back, a nightmare scenario for Pompey that has seen them drop from the Premier League all the way into the dangerous waters of potentially dropping out of the Football League altogether.  Harry Redknapp was also the manager of Portsmouth during the spending spree that ultimately led their plummet down the leagues.

Redknapp has stated that the wage bill could be slashed this summer to get the club more in line with the Financial Fair Play rules.  Many of the high earners at the club have since departed or been loaned out, but high-earners such as Joey Barton and Shaun Wright-Phillips remain.

FOLLOW LIVE: Timbers host Sounders in PNW showdown

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They don’t get much bigger, or more heated, than this one in MLS — it’s Portland versus Seattle, the Timbers versus the Sounders, tonight at Providence Park (10 p.m. ET).

[ FOLLOW LIVE: Timbers vs. Sounders ]

To keep up-to-the-second informed on proceedings in Portland this evening, hit the above link, or click right here.

Seattle won the first meeting between these sides, 1-0 back on May 27, on their home turf at CenturyLink Field. Cristian Roldan, who’ll depart for U.S. national team camp following Sunday’s game, scored the only goal that afternoon in Seattle, a 4th-minute header from three yards out.

Mustafi: Arsenal players powerless, hope “brilliant” Sanchez will stay

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Shkodran Mustafi admits that he, along with his Arsenal teammates, feels helpless with over the ongoing transfer saga of Alexis Sanchez.

[ MORE: Sunday’s transfer rumor roundup | Saturday | Friday ]

The Chilean superstar is linked with a move away from Arsenal this summer, as the Gunners fell out of the Premier League’s top-four and the 28-year-old’s contract is set to expire next summer. Perhaps most importantly, Sanchez hasn’t so much as publicly stated a desire to remain at the club, which, from the outside, appears to have left his future in even greater doubt.

Mustafi admits he hasn’t a clue how things will shake out in the coming weeks, but he’s quick with a pleading sales pitch for Sanchez to stay — quotes from Goal.com:

“I have no idea. Obviously the other players cannot make that decision, he has to make that decision.

“I’m not too much involved. I hope he stays because he is a really brilliant football player but there’s nothing in my hands that I can do.”

[ MORE: De Boer set to be named new Crystal Palace boss ]

Arsenal would likely have to double (if not more) Sanchez’s current $180,000 weekly wages in order to convince him to forego a season in the UEFA Champions League and commit his long-term future to a club presently trending in the wrong direction.

Report: Frank De Boer accepts Crystal Palace job

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Frank de Boer is widely expected to be named new Crystal Palace manager this week, as he has reportedly accepted the job after having been offered the position this week.

[ MORE: Sunday’s transfer rumor roundup | Saturday | Friday ]

The 47-year-old Dutchman has been out of work since he was fired by Inter Milan in November. He lasted just 84 days at the San Siro, where he managed to win just five of 14 games. Inter Milan is Inter Milan, though, and that’s something worth remembering when critiquing Palace’s impending appointment of De Boer.

Palace are also widely expected to back De Boer in the transfer market this summer, in a big way. Kelechi Iheanacho is the biggest name linked with a move to Selhurst Park, as the 20-year-old Nigerian striker is reportedly unwanted by Manchester City boss Pep Guardiola.

5th-place San Jose parts ways with Kinnear after 2.5 seasons

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Dominic Kinnear is out after two and a half seasons as head coach of the San Jose Earthquakes, despite leading the club to a hugely improved standing 17 games into the 2017 season.

[ FOLLOW: All of PST’s MLS coverage ]

The move comes 17 hours after San Jose put to bed a three-game winless skid with a 2-1 win over Real Salt Lake on Saturday, a result which propelled them into fifth place in the Western Conference, just two points off second place. After seventh- and ninth-place finishes in Kinnear’s first two seasons back in Northern California (he managed the club in 2004 and 2005 before the club was relocated to Houston, where he would remain for nine seasons, through the 2014 season), this year’s team seemed to be moving in a positive direction quicker than most had previously expected.

[ MORE: Accam scores a backheel (video) | Opara scores a CB bicycle ]

The club has named Chris Leitch head coach and Alex Covelo as assistant coach. Current assistant coach Steve Ralston and goalkeeper coach Tim Hanley will remain in their current roles.

“First and foremost, we would like to thank Dominic for his hard work, professionalism and contributions to this club over the years,” Earthquakes general manager Jesse Fioranelli said in a release. “He worked hard this year and was a first-class person all the way. This decision was made after a lot of thought and evaluation. We decided that we wanted to go in a different direction as we continue to build the identity of this club.”

Kinnear is the second MLS coach to be relieved of his duties this season, suffering the same fate as RSL’s Jeff Cassar, who lasted just three games before being fired in March.