A claim by Queens Park Rangers that the English Football League's 2012 Financial Fair Play Rules were unlawful has been dismissed by a panel, reports BBC Sport.

The London club were fined for breaking spending limits after their promotion to the Premier League in 2014.

An arbitration panel has also ruled the undisclosed fine, anticipated to be as much as £58m, was not disproportionate.

QPR, now in the Championship, say they intend to appeal the decision, which comes after a three-year battle.