re Briatore QPR Buy and Avoiding Administration

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Article possibly outdated since its writing?

Ben Kosky/Kilburn Times - Under New Management? 22 August 2007

QPR were on the verge of new ownership this week as directors met to finalise the club's sale to Renault Formula One boss Flavio Briatore.
Rangers chairman Gianni Paladini met with Briatore's representatives on Tuesday night to iron out details of the takeover, which will stave off the looming threat of administration.
As of Wednesday morning, the deal had not yet been completed, but Paladini was confident of a smooth handover after a dispute between himself and fellow director Antonio Caliendo had delayed matters....
It is understood, though, that Paladini will remain as chairman...The new investment will relieve Rangers of the crippling ABC loan that has blighted the club's finances ever since they exited a period of administration five years ago.
Prior to the Briatore deal, the club were faced with the grim likelihood of a return to administration - and an automatic 10-point deduction by the Football League...
. Kilburn Times