CHAMPIONSHIP rivals QPR could be in hot water with the Football League following an agreement with Oldham Athletic, according to reports.

The Sunday Mirror reads:

QUEENS Park Rangers face being relegated from the Championship or handicapped with a severe points deduction when the Football League board meet on Thursday.

The League is furious that QPR seriously breached their rules by entering into an illegal loan agreement with League One Oldham.

They borrowed £500,000 against the future sale of 24-year-old winger Lee Cook. The Football League has ordered QPR to repay the money.

But QPR's financial crisis has deepened leaving them in a perilous position after the original cheque they issued to - repay Oldham bounced.

However, QPR chairman Gianni Paladini insisted last night: "We paid the cheque to Oldham on Friday. I can tell you now that everything is satisfactory."

A Football League source said: "We have unlimited powers to take an acceptable course of action in the case of QPR."