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Published 20:31 29 Sept 2016 BST
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A statement released on Thursday afternoon read:
'The club can confirm that an internal investigation is ongoing following allegations made against QPR manager Jimmy Floyd Hasselbaink in a national newspaper on Wednesday 28th September. 'First and foremost, the club reiterates that we take these allegations very seriously. 'As part of the investigation, CEO Lee Hoos and Director of Football Les Ferdinand both met with Hasselbaink this morning to interview him regarding his version of events. 'Thereafter, a meeting took place at our Harlington training ground, whereby all players and staff were addressed by Hoos to explain the club's stance. 'As part of the ongoing investigation, the club will need to view an unedited version of the video footage and full transcript of the discussions that took place. 'We appreciate the QPR fans want this issue dealt with as quickly as possible, and that is the club’s intention. 'In the meantime, Hasselbaink and his staff are continuing to prepare the team for our Championship fixture against Fulham this weekend.'Hasselbaink himself has already denied he has acted improperly.
'I have today, through my lawyers, responded in full to the accusations levelled against me by The Telegraph," he said in a statement on Wednesday night.
'I was approached by Mr McGarvey and Ms Newell of The Telegraph purporting to be players' agents.
'They offered me a fee to make a speech in Singapore. I do not see anything unusual in being offered to be paid to make a speech.
'I did not make any promises in return. I did not ask QPR to purchase any of the players who were said to be managed by Mr McGarvey and Ms Newell and did not and would not recommend the purchase of a player for my personal gain. I deny any accusations of wrongdoing on my part.'
The Telegraph allegations have claimed another victim today as Barnsley sacked assistant manager Tommy Wright after he was implicated in the scandal.
A statement from the club read:
'A meeting between the Club and Mr Wright was held this morning attended by Club Chief Executive Linton Brown. After considering Mr Wright’s response to allegations in today’s Daily Telegraph about breaching FA rules over player transfers, Mr Wright was dismissed. 'The Club was unaware of such matters or involved in any wrongdoing. The Club will continue to fully investigate the issues at hand and will co-operate with the regulatory authorities as necessary.'
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