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Friday, August 03, 2007

Banned - QPR! - Rangers quartet banned until Oldham loan is repaid

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Daily Mail - Rangers quartet banned until Oldham loan is repaid
Lord Mawhinney today warned Queens Park Rangers to repay their outstanding debt to Oldham chairman Simon Blitz or start the season without four of their new signings.
The Football League chairman says a transfer embargo applied to Rangers over the £500,000 loan means July recruits Simon Walton, Lee Camp, Michael Mancienne and Ben Sahar are not registered to play for the club.
QPR chairman Gianni Paladini borrowed the cash from Blitz earlier in the year without realising that the deal broke a league rule which forbids directors from investing in more than one club.
When details of the loan emerged in May, QPR promised to repay the money but three months later part of the debt - understood to be around £300,000 - has still not been repaid. At their latest meeting two weeks' ago, the League's board imposed a transfer embargo on QPR and held back around £1million in funding.
But the embargo did not stop QPR announcing a £200,000 deal for Walton from Charlton and a £300,000 move for Camp from Derby last week. The club also confirmed the loan signings of Mancienne and Sahar from Chelsea.
Although they have appeared in pre-season friendlies, Mawhinney confirmed that none of the quartet will be eligible for Championship matches until the loan is repaid.
QPR's first game is at Bristol City a week tomorrow. Mawhinney said: "There is a financial issue relating to QPR which needs to be resolved. Therefore, we have said that restrictions will be applied to the club's transactions.
"As soon as the financial issue has been resolved it will be back to normal. I understand promises have been made. I assume it will be resolved very soon but we've been waiting for quite a long time
."
Paladini has insisted Blitz's money will be repaid this week. He also revealed today QPR have an agreement with Chelsea to sign three young players every year on loan.
He added: "They don't tell us which players. It's the ones manager John Gregory wants." Daily Mail


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