QPR have lost an arbitration claim against a fine in the regions of tens of millions of pounds for breaching the EFL's FFP rules.

Rangers, who have indicated they will appeal the decision, broke the rules in the 2013/14 season when they won promotion back to the Premier League under Harry Redknapp.

The Hoops have long fought the FFP penalties but are facing an uncertain future, depending on an appeal.

EFL chief executive Shaun Harvey said: “This decision vindicates the approach of the EFL board in defending this challenge.

“The board will continue to enforce our rules on clubs to protect the interests of those that do comply.

“The board understands the challenges that this decision could create for our valued member club and will work with them, as and when the matter formally concludes.

Tunnel vision: The view players get as they enter the pitch at Loftus Road

“It has taken a long time to get to this outcome and I'd like to publicly thank all those individuals who have supported our approach.”

Lee Hoos has confirmed the club will appeal the decision and are examining the next steps for the club.

He said: “We are understandably disappointed with the decision.

“We are currently examining our next steps, but we will be appealing.

“However, until the matter is resolved in full, we are not in a position to provide any further comment.”

QPR and the EFL will not be making any further comment on this matter at the present time.

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QPR's unlawful Financial Fair Play claim dismissed by Arbitral Panel - live reaction