If QPR do go down, then the consequences will be close to catastrophic. Their wage-bill will need some serious trimming (see what Villa are going through at the moment); players such as Julio Cesar, Jose Bosingwa, Stephane M'Bia, and now obviously Odemwingie are likely to be on seriously big deals which won't necessarily have relegation clauses. Majority of players would probably need to be sold for cut-price deals, the ones that stay wouldn't be too chuffed about having to play in the dogfight that is the Championship and generally the whole bubble around QPR would be burst in dramatic style as they are spending a massive amount more than they are actually getting into the club, basically if you want to see the results of that see Portsmouth and to a lesser extent Rangers.
Redknapp's reputation of leaving a trail of clubs in a financial turmoil and having football club owners and chairmen pull their pants down for him isn't unfounded, as the fans of the Bournemouths, Portsmouths, Southamptons and even West Hams of this world will tell you bluntly, so Peter, good luck to you mate, and for YOUR sake I hope you stay up, because if QPR go down, you'll regret it in more ways than one.