A story in the Daily Telegraph said that although 60 million pounds in loans had been written off, mostly by owners including Malaysian entrepreneur Tony Fernandes, that amount would still count towards their losses for the 2013-14 season.
It would be regarded as a "related-party transaction" and would mean QPR's losses for that season stood at 69.8 million pounds.
Under the FL's rules, clubs were allowed losses of 8 million pounds in 2013-14, with fines on losses above 18 million imposed on a pound-for-pound basis, leaving QPR potentially facing what is believed to be the highest fine ever imposed on a sports club.
QPR were promoted back to the Premier League last season, having lost 65.4 million the year before.
A Football League spokesman told Reuters: "We are in ongoing discussions."
Queens Park Rangers refused to comment.
(Reporting By Steve Tongue; editing by Toby Davis)
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