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Telegraph - Flavio Briatore in talks to buy QPR - By David Bond
Flavio Briatore, the flamboyant boss of Formula One team Renault, said last night that he was in the early stages of talks to buy Queens Park Rangers.
The Italian businessman, who has close links to Bernie Ecclestone, is believed to be considering a £30 million deal to save the Championship club and help fund a push for promotion to the Premier League.
He said: "We are in the early stages. We have had some discussions, but nothing has been signed."
It is understood talks are set to continue over the weekend. Briatore did not reveal, however, whether Ecclestone, the billionaire ringmaster of F1, was involved in the deal.
QPR's chairman Gianni Paladini has been searching for months for new investors to prevent the club from going into administration.
They are losing around £2 million a year and are £21 million in debt with a £10 million loan to the ABC Corporation due to be repaid next year. A further £7 million is owed to directors and the taxman.
Any deal with Briatore would involve taking on those debts and investing around £10 million for manager John Gregory to spend on new players.
That price would nevertheless be expensive for a club outside the Premiership with no possibility of modernising their Loftus Road ground.
It is understood that one of the plans being discussed is a proposal to sell Loftus Road to property developers and move the club to a new site currently owned by the BBC at White City.
Paladini recently added Kevin Steele, a property lawyer from Mishcon de Reya, to the QPR board to advise on redevelopment options, with Hammersmith and Fulham Council believed to be in favour of the plans. Telegraph
The Times - August 11, 2007 - Ecclestone on verge of launching Arsenal bid - Kevin Eason
Bernie Ecclestone is counting down the days until he can secure control of Arsenal in one of English football’s most astonishing takeover deals. In an exclusive interview with The Times, the Formula One impresario revealed that he would be “interested in buying the club today”, if it were on the market. ...
Ecclestone had been linked with a takeover of Queens Park Rangers in concert with Flavio Briatore, the principal at the Renault Formula One team and one of his closest allies. But he emphatically ruled himself out of the deal yesterday, saying that Briatore was acting alone. Instead, Ecclestone’s eyes are fixed on Arsenal and transforming the club into a mirror image of his huge Formula One empire.
Briatore’s appearance at QPR is more mysterious. The flamboyant Italian confirmed yesterday that he was in talks with the club and QPR are desperate for a buyer with cash. The Coca-Cola Championship club are staggering under the weight of a £10 million high-interest loan and have spent months trying to satisfy creditors. At one point this year they even faced a winding-up order from the St John Ambulance service over an unpaid bill of £18,000.
It is thought that Briatore would probably get the club at a price below the £30 million regularly quoted, because of the debt burden. But he would still be faced with financing a reconstruction plan capable of getting QPR back into the top flight for the first time in 11 years.
Briatore, who is thought to be worth about £70 million, is said to have pledged £10 million for transfers, but more would be needed and he is not in the wealth class of someone such as Ecclestone. However, he is one of the best connected men in Europe and could find backers easily to help to broker a quick takeover. The Times
DAILY MIRROR - FLAVIO IN POLE FOR QPR
Formula One tycoon Flavio Briatore last night played down claims he was on the verge of taking over troubled Queens Park Rangers.
The Italian billionaire was said to be ready to buy out Rangers chief Gianni Paladini in a £25million deal, which could also have seen his close pal Bernie Ecclestone being involved.
Paladini and partner Antonio Caliendo own 47 per cent of the cash-strapped Loftus Road club and are desperate to find a buyer ready to invest in the Championship side. But while Briatore confirmed he had received an approach through intermediaries, he explained: "It is something that has been brought to our attention and there have been some superficial preliminary talks.
"There is nothing concrete so far at all, nothing signed or discussed beyond a very preliminary stage." Mirror
See Also:
Earlier Compilation of Takeover Stories - I
Earlier Compilation of "Takeover Stories - II"
QPR1st Reaction and Les Ferdinand Reaction
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Saturday, August 11, 2007
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- Ex-QPRs Signing for New Clubs: Santos and Cochrane
- Ian Holloway on Martin Allen Sacking...Ray Jones D...
- QPR Reportedy Sign Mikele Leigertwood for around £...
- "After a Final Round of Talks"...Briatore & Eccles...
- After Many Months QPR's Tony Roberts Finally No Lo...
- Additional Report but Not Yet an Announcement
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- Bernie Ecclestone on Investing in QPR
- QPR Takeover - Ecclestone and Briatore in Joint Co...
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- Ray Jones Update: Minute of Applause...FIFA's Sepp...
- Dexter Blackstock on Being in the U-21 Squad and Q...
- Nostalgia: 40 Years Ago Victory and Topped Divisio...
- Local Account of the Crash and All the Victims
- Bernie Ecclestone Reportedly Confirms Has Discusse...
- Former QPR Youth Coach Joe Gallen Remembers and Ta...
- Reported Briatore Philosophy re Running QPR
- Colchester Remember Nearly Signing Ray Jones As Y...
- Colchester Remember Nearly Signing Ray Jones As Y...
- QPR Remember and Honour Ray Jones - Retire His #31...
- PFA Tribute to QPR's Ray Jones
- Ex-QPR: Dichio Happy in North America...Cochrane ...
- QPR Birhdays: Ray Jones (RIP)...Jamie Cureton....D...
- Nardiello Again in the Welsh Squad
- Tributes and Kind Words Pour In...No Date Yet for ...
- QPR's Briatore Takeover - One Supposedly Involved
- Ray Jones RIP- Additional Tributes, Reports, Memories
- Expressions of Condolences
- QPR Player Ray Jones Killed in Car Crash
- Briatore and QPR - Further Details on Takeover Sta...
- The Potential QPR Takeover - Who's Possibly Involved
- Burnley Preview QPR...QPR Preview Burnley...
- QPR's Tommy Doherty Still Wanted by Wycombe
- Briatore Confirms QPR Interest...But Denies QPR Deal
- Briatore Earlier Today - No QPR Deal Completed
- Briatore to Make Statement on QPR
- Statement by QPR Holdings re "Possible Offer"
- QPR Flashback: One Year Mackrell in...Two Years Po...
- QPR Snippets
- Gareth Ainsworth on Takeover, Cardiff Loss and Loo...
- re Briatore QPR Buy and Avoiding Administration
- Mancienne Makes His England U-21 Debut...Blackstoc...
- Birthdays for QPR's Lee Camp and Marcus Bignot
- Takeover Update - Complete Within 24 Hours
- Teams of the Week: Three Ex-QPR Playes (and Two Ca...
- Ex-QPR Update: Iorfa Unhappy...Ian Watson Bowling....
- QPR's (Chelsea's) Mancienne Talks About Takeover, ...
- QPR One of Clubs to Receive FA Warning Letter Over...
- QPR Takeover Update
- The QPR Takeover: Further Details
- Snippets: Ian Holloway Still Pursuing Scott Sinclair
- QPR Board Changes Now in The Media
- QPR Holdings Board of Directors Resigns as Prepara...
- Next Up: QPR at Burnley
- QPR Apologize for QPR World Service
- Additional Gregory Comment - "what really disappoi...
- Ex-QPR Birthdays...Carlisle Praised...Johnson Free...
- QPR vs Cardiff - Additional Reports...Mancienne Co...
- Various Clubs (Not QPR) Apologize for/Explain Prob...
- How Ex-QPRs Did on Saturday
- Flavio's Briatore QPR Takeover Reportedly Will Bel...
- QPR's Loss to Cardiff - Harsh Match Reports and Co...
- QPR 0-2 Cardiff Reports and Comments
- QPR's Championship Prospects This Season - A Detai...
- An "Intro/Guide" to QPR's Prospective New Owner Fl...
- Briatore Deal Reportedly Expected to be Without An...
- QPR Takeover...Future Ground Move Possible
- QPR Snippets: Hogan Ephraim on QPR and Colchester
- QPR vs Cardiff: No Fowler or Hasselbaink
- Flashback - QPR Games On This Day..Opening Game Ag...
- QPR Chairman Says QPR Saved! Briatore to Take Over
- QPR Directors Change? Nothing Announced ...But one...
- Analysis of the Paladini/Caliendo "Dispute" and Br...
- Ex-QPR Clarke Carlisle Joins Burnley From Watford
- Even AP... "[QPR] Queens Park Rangers may be force...
- "Another week of chaos at QPR..."
- Ex-QPR Danny Shittu Called up by Nigeria...Current...
- Jake Cole Gets Extended Contract...Ainsworth on Br...
- Blackstock and Mancienne in England U-21 Squad
- QPR Chairman Warns of Administration in Two Weeks
- Ex-QPR Danny Dichio...Hero of MLS Toronto FC
- Hogan Ephraim Hoping For Extended QPR Loan (and Ch...
- Ben Kosky/Kilburn Times Briefly re Paladini/Calien...
- QPR Manager John Gregory Defends Team Selection Vs...
- Former QPR Chairman Bill Power Speaks Out and Pose...
- QPR1st Statement on "No Sale" Club Statement
- Flashback 20 Years: Bulstrode's QPR Started with W...
- Nick Ward Returns to the Australia Squad
- QPR's Orient Defeat - Additional Reports
- Orient Knock QPR Out of the Carling Cup
- The "QPR Not For Sale" Statement Picked up By the ...
- QPR Holdings Chairman, Antonio Caliendo "The Club ...
- Crystal Palace Still Wants QPR's (West Ham's!) Hog...
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