Jones, chairman of the club's parent company, QPR Holdings, made the comments at a fans' forum in Ealing last week.
Supporters were stunned when Jones described the failure to win promotion last season as "the best thing that happened to this club."
Explaining the board's strategy prior to Rangers coming out of administration in 2002, Jones spoke of their determination to rebuild, saying: "We thought what we had to do was build a franchise.
"I think we've done that. On the football side, I think if we keep this squad together we can compete in the First Division."
And he continued: "I'm going to commit sacrilege here - I was glad when we didn't win the play-offs last year.
"I didn't think this football club or this football team was ready for it. On the day, I probably cried like everyone else did because I'm a QPR fan but actually, it was the best thing that happened to this club.
"Look at what's happened - look at what we've done with the brand. We have average gates of 14,500, a team that we knew could compete at the top, everyone's enjoying winning. It's helped build the football club.
"We have over 9,000 season ticket holders, merchandise sales are up by 86%. What we've got is something to sell to shareholders."
Jones is one of three directors to have put money into QPR recently to help keep the club's head above water.
However, his comments were condemned by QPR Loyal Supporters Association spokesman Paul Finney, who said: "It's an insult to supporters.
"One minute the board are telling us how vital promotion is for the financial future of the club and the next, the company chairman is saying missing out on promotion helped.
"Jones was talking about Queens Park Rangers, not Brentford, Colchester or Rushden, with respect to those clubs. How can Crewe, Gillingham and Rotherham be 'ready' for Division One but not QPR? It's a joke.
"And besides all that, a director of a football club not regarding missing out on promotion as anything other than a bitter disappointment is disgraceful."
Dave Thomas, editor of the Rangers fanzine, A Kick Up The R's, said: "His comments are those of someone who knows the price of everything and the value of nothing. They are more than sacrilege, they are a betrayal.
"QPR is a football club built on values and on dreams. It's an emotional commitment. It isn't, and never will be, a brand name.
"I accept his comments were made honestly. Indeed, there is a good argument to say that a delayed promotion might not be a bad thing.
"But they are based on footballing reasons and nothing at all to do with the price of shares."