Takeover Update

-
Flavio Briatore: "... "We are fully aware of the history of QPR and the loyal fan base that it has, we are therefore totally committed to bringing future success back to the club," ..."Gianni, Bernie and I are all determined to see the Club return to the Premiership within the next four years." BBC

BBC - Ecclestone sets targets for QPR
Formula One supremo Bernie Ecclestone says he wants to buy Queens Park Rangers and wants to see them back in the Premier League within four years.
QPR have not been in the top-flight since they were relegated in 1996.
Ecclestone and multi-millionaire Flavio Briatore, who is the Renault F1 boss, had their offer to buy the Championship outfit recommended by the club's board.
The duo have paid £1m for the Loftus Road team and will also clear the west London club's £13m debt.
Ecclestone has a personal fortune which is valued at £2.2bn.
He had been linked with launching a bid for Premiership side Arsenal earlier this summer. BBC

Mail -QPR 'will get £5m to spend on transfers' after takeover
Queens Park Rangers have been promised a £5million transfer kitty as part of Flavio Briatore and Bernie Ecclestone's takeover.
Details of the fund earmarked for improving John Gregory's squad are contained in documents relating to the Formula One duo's £14m offer for the club.
Under the deal, the pair will pay £1m for QPR's shares, take on £13m of the club's debt and provide a £5m loan for "the acquisition of additional players".
Renault boss Briatore is clearly the senior partner in the deal with his company, Sarita Capital, funding £4.25m of the new loan compared to £750,000 from Ecclestone.
The joint-offer has been recommended by the club's board but must still be formally accepted by Rangers' shareholders.
Under the terms, Gianni Paladini will remain as chairman but directors Antonio Caliendo and Franco Zanotti - who have funded the club's losses for the past two years - have agreed to resign from the board.
Briatore will become a director of the club along with associates Bruno Michel and Alejandro Agag, but Ecclestone, who is one of Britain's richest men, will not sit on the club's board.
The motor racing billionaire has been linked with a takeover move for Arsenal and his role as junior partner in the Rangers deal appears to leave him room for manoeuvre should other opportunities emerge.
Briatore said: "We are fully aware of the history of QPR and the loyal fan base they have. We are fully committed to bringing future success back to the club. Gianni, Bernie and I are all determined to see the club return to the Premiership within the next four years."
Under Paladini and the club's Monaco-based owners - who took control of the club in 2005 - Rangers have faced serious financial problems, exacerbated by falling attendances and poor team performances.
Paladini said: "This offer provides much-needed investment and an excellent opportunity to move the club forward which, in turn, we are sure, will be translated into positive results on the pitch."
A chunk of the new investment has already been spent on the club's £900,000 signing of Sheffield United defender Mikele Leigertwood. Mail

The Times - September 3, 2007
Formula One magnates close in on QPR takeoverGary Jacob
Flavio Briatore and Bernie Ecclestone should complete their takeover of Queens Park Rangers next month. The offer made by the Formula One magnates for the Coca-Cola Championship club will go before shareholders this month after being recommended for acceptance by the board.
They have agreed deals to buy a 62.3 per cent stake in the club. Ecclestone has bought a 15 per cent stake and Sarita Capital, a newly formed company controlled by Briatore, has control of a further 47.3 per cent. They have also loaned the club £5 million – £750,000 from Ecclestone – to be used, in part, for John Gregory, the manager, to strengthen the squad in the January transfer window.
The new owners are also expected to pay off the £10 million that is owed to the ABC Corporation. Alejandro Agag and Bruno Michel, who has involvement in motor racing, too, will join the board. Gianni Paladini has been offered a five-year contract to remain as chairman. The Times

BBC - F1 magnates unveil £14m QPR offer
F1 magnates unveil £14m QPR offer
QPR is backing the offer from Mr Ecclestone and his business partner
Formula One magnates Flavio Briatore and Bernie Ecclestone have unveiled details of a £14m offer for Queen's Park Rangers football club.
Under the deal, the pair will pay £1m for QPR's shares and take on £13m of the west London club's debt.
The pair will also loan the club £5m - partly to buy new players. Mr Briatore said the duo were delighted that their offer had been recommended by the QPR board.
"We are fully aware of the history of QPR and the loyal fan base that it has, we are therefore totally committed to bringing future success back to the club," he added.
"Gianni, Bernie and I are all determined to see the Club return to the Premiership within the next four years."
The board has urged shareholders to accept the deal, saying it represents QPR's best chance of winning promotion to the Premier League "in time".
Under the terms of the offer, Gianni Paladini will remain as chairman but Antonio Caliendo and Franco Zanotti have agreed to resign from the board.
QPR was listed on the stock market in 1986 but hit hard times financially, and in 2001 was forced into administration and taken private.
The club was one of the founding members of the FA Premier League in 1992, and had Premiership status for four years before being relegated in 1996. BBC

Reuters - Racing duo Briatore and Ecclestone to buy QPR
LONDON, Sept 3 (Reuters) - Formula One duo Flavio Briatore and Bernie Ecclestone said on Monday their 14 million pound ($28.28 million) takeover bid for second division soccer side Queens Park Rangers had been recommended by the club's board.
Briatore and Ecclestone's offer, at 1 pence a share, values the club at 1 million pounds. The remaining 13 million pounds is the cost of the club's debt.
QPR said Renault team boss Briatore and Formula One supremo Ecclestone had promised to invest 5 million pounds on the club and players using borrowed cash, while chairman Gianni Paladini would remain in the job.
The formula one pairing said they were hoping to steer the club into England's top division by 2011.
"Gianni, Bernie and I are all determined to see the Club return to the Premiership within the next four years," said Briatore.
"We are fully aware of the history of QPR and the loyal fan base that it has; we are therefore totally committed to bringing future success back to the club."
The west London club lost 3-0 at home to Southampton on Saturday and remain in the bottom three of the division, with only one point from three games.
In 2005 Paladini accused two former shareholders and five other men of threatening him at gunpoint minutes before a match and ordering him to resign.
All seven were found not guilty of the charges. Reuters

Telegraph - Bernie Ecclestone snaps up QPR By Emma Thelwell
Formula One bosses Bernie Ecclestone and Flavio Briatore have agreed to buy Queen's Park Rangers football club for £14m, in a move that fans will hope revs up the struggling team's prospects.
Mr Briatore, the chief of Formula One team Renault, announced today that his investment vehicle, Sarita Capital, has offered to pay £1m for QPR's shares and take on £13m of the club's current debt.
Mr Ecclestone, who has been touted as a possible buyer of Arsenal, separately has acquired 15pc of the club. The two friends have also agreed to invest a further £5m for the club to spend on acquiring new players
QPR's board urged shareholders to accept the bid, which they hope "will help provide the club with the financial strength necessary to improve its performance in both the Championship and, in time, enable the club to gain promotion to the FA Premier League."
Under the bid terms, Mr Gianni Paladini would remain as Chairman of the club, and a director of QPR. Mr Briatore, Mr Bruno Michel and Mr Alejandro Agag will be asked to join the board, and Mr Antonio Caleindo and Mr Franco Zenotti have agreed to resign from the board.
Mr Briatore said: "Bernie and I were delighted to receive a recommendation from the board of QPR for our bid. We are fully aware of the history of QPR and the loyal fan base that it has, we are therefore totally committed to bringing future success back to the club. Gianni, Bernie and I are all determined to see the club return to the Premiership within the next four years."
The news should bring renewed hope to the club, which is currently mourning the loss of the 18-year old striker Ray Jones, who died in a car crash last week. Telegraph

Telegraph - Shellshocked QPR in need of new formula By Nick Hoult
There may have been 11 Ray Joneses on the pitch at Loftus Road but not as far as the two sets of supporters were concerned. All afternoon they chanted: "There's only one Ray Jones."
Jones died in a car crash last week at the age of 18 and Rangers fans turned up to celebrate a life left unlived. The tragic loss of a talented player was marked by a minute's applause and his family laying a wreath in the centre circle.
The Rangers players were given permission by the Football League to wear his name on their shirts and while no one wanted to use the solemnity of the occasion as an excuse, the home side were mentally shot before a ball was kicked. Southampton were all heart and should really have won by six or seven.
Into this grieving club walked Flavio Briatore, the chief of Formula One team Renault and who, along with Bernie Ecclestone, is close to buying Rangers. How fitting for a club sponsored by a firm called Cargiant.
Briatore's purchase is expected to be confirmed this week and Rangers will be hoping his cash will transform a club occupying a relegation place. He looked the part on Saturday - swept-back greying hair, sunglasses, jeans, deck shoes and a leather jacket probably worth more than QPR's team, Briatore certainly had more 'va va voom' than anything else at peeling old Loftus Road.
But Rangers were determined to make Saturday a day for Jones. "It was a hell of a shock and this week has been difficult," defender Marcus Bignot said. "Ray was a very popular player among the first team and to lose your life at such a young age is so sad. We've got pictures of all the boys around the training ground and Ray's is still there. He will not be forgotten.
"It could be fitting that a new era is starting and, hopefully, Ray's memory will coincide with that."
The emotion was too much for Rangers. They were slow to the ball, gave away possession and were opened up at the back all too easy. Southampton's Grzegorz Razsiak should have had a hatful. He headed the first from a set-piece before Rangers managed to concede a second from their own corner. The ball was cleared, John Viafara ran the length of the pitch before squaring to Rasiak to score. The contest was over when Bradley Wright-Phillips converted a cross from the excellent Nathan Dyer. Telegraph

John Gregory Welcomes Investment - QPR Official Site
GAFFER WELCOMES INVESTMENT
Rangers gaffer John Gregory has welcomed the news that Flavio Briatore and Bernie Ecclestone have made a recommended offer for the Club.
Speaking exclusively to www.qpr.co.uk on Saturday evening, Gregory said: "It's very good news at the end of a really tragic week for the Club.
"The investors can really help this Club move forward, but as always, it will take time. We can't do it overnight and the transfer window is closed, so it will take time to make the transition.
"It has been a tragic week for the Club, but at least there's some positive news to end on."QPR

As posted on Saturday on the QPR Official Site- "THE TAKEOVER: IN DETAIL" can be read at QPR
[Note: in the takeover statement, it says "QPR is one of the best supported football clubs in the Championship with attendance at home games averaging approximately 20,000, in the 2006/2007 season."
Just for the record: In 2006-2007. QPR ranked 19th in Championship Attendance Figures with average gate of 12,936. Attendances

"...Mr Gianni Paladini will remain as Chairman of QPR Football Club and a director of the Board of QPR. Mr Flavio Briatore, Mr Bruno Michel and Mr Alejandro Agag will be invited to join the Board and Mr Antonio Caliendo and Mr Franco Zanotti have agreed to resign from the Board." Attendances