The France striker looked set to join the Magpies after manager Alan Pardew made what he described as a "fantastic offer", only to instead move to Rangers who are reported to have offered him £80,000 per week.
Loic Remy: "The finance doesn't come into it at all because Newcastle offered me a very good contract as well.
"I've seen that a lot of people are surprised I came to QPR and say that I came here for money, but my decision was no way based on financial reasons.
"I could have stayed at Marseille because I had a good contract there. There are a number of reasons for why I had to leave Marseille for here.
"QPR were very open, they wanted me and it's great to be here.
"It's true that I hesitated between Newcastle and QPR. I went to meet the staff at Newcastle and there came a time to make a decision and I made that decision based on two factors.
"Firstly I already knew the coach Harry Redknapp and secondly, I'm very excited by the project QPR have here for the future.
"It's a big challenge and the team are in a difficult situation, but since Harry Redknapp has been here things have changed a great deal."