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Friday, June 15, 2007

"Paladini Acknowledges Report "QPR's Italian owners want to sell"

BBC - QPR's Italian owners want to sell

QPR chairman Gianni Paladini says the club's Italian owners are ready to sell up for about £4m.
Paladini says he will sell his stake for the £650,000 he paid for it when he joined the board in 2004.
Fellow investors Antonio Caliendo and Franco Zanotti are also believed to be prepared to accept the price they paid for their larger stakes.
Paladini said: "We've taken the club as far as we can and don't have the money to take it further."
Between them, Paladini, Caliendo and Zanotti own about 62% of the Championship club.
We've done all we can and someone else is needed to take things forward
Paladini added: "We need new investment and new people to take QPR forward. We just want the club to succeed.
"If the right people are there and can show they would be good for QPR, then there is no way we would try to stop them."
Rangers have been plagued by problems on and off the pitch since Paladini and Caliendo took control in 2005 following a bitter power struggle.
Caliendo has loaned the club a substantial amount in order to prevent it from going into administration.
Paladini insists this money will only be repayable should QPR make a profit by reaching the Premiership, and should not be a barrier to a takeover.
But any new owner would have to deal with ongoing losses and 11.59% interest repayments on a £10m loan a previous regime at Loftus Road arranged to take the club out of administration in 2002.
"When we came here the club was in a very bad position," Paladini added.
"Things are better now but we've done all we can and someone else is needed to take things forward.
"As long as they can show they have the money to improve QPR for the future, then I won't be looking for anything more from them than what I paid for my shares. Anything more should go into the club." BBC

Also reported at 24Dash.com

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