Ian RoyalSutekh Not going to happen, if the FL threatened to not accept QPR into the Championship then the PL would throw a hissy fit and not accept teams from the FL.
After all can't have teams being expelled effectively on the watch of the PL just because they are stupid enough to over spend well beyond their means chasing the stupidity that is the PL. That might reflect badly on the integrity of the competition.
Of course a season after exiting the PL the PL wouldn't give a tuppenny one about QPR unless they immediately returned.
At which point the FA can revoke their membership and it's bye bye UEFA Champions League. None of that'll happen though. QPR will string it out but ultimately cough up.
At about 10% of what they should pay, no doubt.