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Monday, June 18, 2007

Ex-QPR Chairman Bill Power, QPR and Swindon

Completing the Ex-QPR "Trilogy" of blog posts today, news of former QPR Chairman, Bill Power.
Western Daily Press/James McNamara - June 18, POWER COULD SNUB SWINDON
The fans' consortium bid to buy Swindon Town could be in doubt after QPR chief Gianni Paladini revealed that Bill Power is interested in buying back in to the Championship club.Power - the consortium's financial backer - has made no secret of the fact that he is a lifelong Rangers fan and was chairman until an acrimonious departure in 2005.
Rangers chairman Paladini last week confirmed that he and the current owners were willing to accept £4m to sell up and walk away - and that has alerted Power to the possibility of making a return to Loftus Road.
Power and Paladini joined forces in 2003 to topple the previous QPR board, but the relationship quickly turned sour.
But the two men appear to have reconciled their differences and met for lunch on Thursday.
Paladini then announced at the club's AGM on Friday that Power had intimated that he was interested in re-igniting his involvement at Loftus Road.
That could have serious consequences for the consortium's bid to take control after a £4m offer was formally tabled in March.
Power has been frustrated at the lack of progress and talks are currently at a standstill over the signing of documents to allow negotiations to begin in private.
The two parties are wrangling over the exact nature of the £1.2million that Power invested in April 2006, before his involvement in the club was ended after he was injured in a plane crash less than six months later.
Power insists the money was in the way of a loan, while the club maintain that the investment was made in return for shares.
That has led to the threat of legal action from Power, but both parties' lawyers are believed to have maintained dialogue to try and find an acceptable resolution to the issue.
Power was unavailable for comment last night, but the Daily Press understands that leading members of the consortium will seek assurances of his continuing commitment to the bid later this week - Report

See Also:

QPR Report: June 11: Ex-QPR Chairman Bill Power and Swindon - "Dispute"...

QPR Report/June 8 re Bill Power

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