Today's Sunday Mirror stated that 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 when 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 that "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." The story has a major flaw as the loan was NOT from Oldham Athletic, it was a personal from Oldham boss Simon Blitz (pictured). The loan was believed to be secured against the potential sale of Rangers winger Lee Cook according to Blitz although QPR did not want to comment on the deal. The loan was officially registered with Companies House on April 18th. and Blitz insists it will have no negative impact on the Latics. He commented, "It is something I do. People borrow money from me and they pay it back with interest. Business is business. People can say whatever they like but this is a business deal on a personal level which has no bearing whasoever on Latics.