Flashback: When David Thorne, Tim Krause and Haleem Kherallah Were The Talk of QPR

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Recalling the Summer of 2003: When Australian David Thorne; Milwaukee Wave's Tim Krause; and businessman, Haleem Kherallah were trying to buy into the club. Where are they now?


The Guardian/Matt Scott, July 26 2003 "QPR in line for Aussie cash injection"
Queens Park Rangers believe they are set for a significant injection of funds after accepting a bid for 30% of the club's equity from an Australian entrepreneur, David Thorne.
Thorne wants to use Loftus Road as a venue for international matches involving Australia or New Zealand to increase revenue for the club. "It had to be a club in London that owned its own ground because I want to develop a relationship for a de facto home for the Socceroos and New Zealand in England.
"The only way for soccer to be developed in Oceania is for there to be a base in England, it provides international exposure and it is easier for the European-based players to play there. Loftus Road is not the best ground in London but it serves to help my goal."
Soccer Australia has been looking for a base in the UK since the Socceroos' friendly win over England in February.
"There is a sense of frustration at the club and with David that the paperwork is taking time," said the QPR chief executive David Davies. "But otherwise we are very positive about this. David has brought connections to the table that otherwise we would not have had." Guardian

BBC, July 28-2003 - QPR cash hopes dashed
Queens Park Rangers are facing a cash crisis after Brisbane-based businessman David Thorne withdrew his offer to invest £2million in the club in return for shares.
QPR chief executive David Davies described the news as "a hammer blow for the club." He added: "My priority now is to discuss the situation with both the chairman of the Plc (Ross Jones) and the chairman of the club (Nick Blackburn) before making any further statements."
Thorne proposed to use Rangers' Loftus Road ground for international games
Soccer Australia has been looking for a base in England since the country's last friendly, a win over England at West Ham's Upton Park.
Discussions on using Reading's Madejski stadium for two friendlies last season broke down.
The Australians have since arranged to play a friendly against Ireland in Dublin on 20 August. BBC

David Thorne Q&A With QPR 1st
(Originally on QPR1st. Taken from Dave Barton's QPR Site
Over the weekend, QPR 1st has been in direct contact with David Thorne re his potential involvement with QPR. We also have asked David Davies to comment from a QPR board perspective, but are yet to hear back from him.
David Thorne has been very approachable and said he would answer our questions to the best of his abilities. Below are our questions and his answers reproduced verbatim. We thank him for this candour and look forward to meeting him in early July when he is next in this country.
David has offered to answer further or follow-up questions, but has requested that they are channelled through a single source. We are happy to facilitate this. Please forward your questions to us at info@qpr1st.co.uk in an e-mail entitled "Thorne questions". We will collate and forward onto David Thorne.
As usual, the publication of communications by potential investors in QPR should neither be interpreted as an endorsement nor a criticism by QPR 1st...

Q5, What your ambitions for the club are
The first goal is promotion to Division One. This is imperative for the forthcoming season, not an option. While the result in Cardiff was disappointing the atmosphere was great. We owe the fans for their support and sticking with the club through tough times.
Secondly we need to consolidate in Division One before a strong push back to the Pemiership.
Once back in the Premiership we must stay there. Then it is to be the best team in London and possibly European football. That itself will create its own headaches once we are there.

Q6, What specific role you envisage you and/or your associates taking in the club
That is up to the club. Clearly I believe I have something to offer, but my direct involvement is not a condition of the deal. If the club wants assistance and I can give it, I will be happy to respond to any invitation to do so.
I can say that I have a good working relationship with David Davies and believe we both have strengths that complement each other.

Q7, Whether you seek to get ultimate control of the club
No. QPR belongs to the fans.
I will hold 29.9% of the QPR shares, which will be the largest single shareholding, but I can be blocked. This will allow a for a spread of smaller investors to be involved, rather than a single dominant party.

Q8, you see the current board fitting into your plans
I have publicly expressed the view that I wish the current Chairmen and the Chief Exec to remain in the current positions. This is an investment condition. If invited, I would be pleased to contribute at Board Level.
My dealings with all the board members and staff have been very good. I guess we all get a little frustrated at the speed, or lack of it, that it sometimes takes to get things down. Add to that different countries and legal issues, things can get complicated, but it is important to get things right.
For me, I come from the outside and don't bring any baggage. Obviously there is frustration at the fan level, they have seen the demise of a great club and that is understandable. What I can say, objectively, is that the current board and management team have done a very good job in difficult circumstances and the results of that work should be seen on the field this season.

Q9, What role you see as suitable for the fans in the running of the club
I previously said that QPR belongs to the Fans and that is true. All egos need to be checked at the door as the club is bigger than any of us.
Obviously fan feedback is important and comes in many forms including QPR 1st, both formally and informally. There are mechanisms in place for anybody to have input into the club, from buying tickets, to writing letters, to employment, to standing for official positions. I do not see any fan being denied access to any of these opportunities. How qualified they are to perform these task is a different question.

Q10, Whether you would be open to fan representation at board-level
I am not aware of any impediment stopping a fan/fans representative from standing for a board position.
If you are asking me should any particular interest group have an automatic right to participation at board level, that sounds like discrimination and the answer to that is no.

Q11, What extras or synergies your organisation can bring to QPR
Any investment in Australian Soccer is not logical given the current political situation with Soccer Australia and New Zealand is too small. Therefore to invest one has to look offshore.
The question is not just one of direct investment, but also one of how I can best help develop football in my part of the world. To that end to create a bridge for players and perhaps to be able to offer a European home ground for New Zealand Soccer and Soccer Australia has a lot of appeal. The reality for us is that most of our international players are now based in Europe and the US, and for us to play internationals it is easier to take the games off shore than to try and bring teams down under. Also it should let us tap into the large ex pat base in London.
You may recall Australia beat two different England sides in one match earlier this year. We need to have more games for both countries to strengthen our game.
The value for the club apart from revenue from Internationals is the opportunity to attract additional supporters and sponsors to the club, and possible access to a pool of players. The question then becomes why QPR?
Firstly, the club is in London, which is important for the previous answers.
Secondly QPR has great brand recognition internationally. Certainly the club has been through turbulent times recently but the current board and management have made some hard, if unpopular decisions, necessary to ensure the long- term viability of the club. With that restructuring in place it can only move forward.
I would draw a comparison to what Liverpool and Manchester United went through in the 70's.

Q12, What business plan you have for QPR over the next 5 years. Specifically how you propose that the club deals with any debt and/or future projected trading losses that it might have.
That is being developed now. As for losses, the company must trade solvently for both legal and investment reasons.

Q13, If you have any views on the emotive subjects of ground-sharing and ownership of Loftus Road.
The sums indicate that the ground-sharing with Fulham is working and that the extra revenue is welcome. The days of having an underutilised facility are gone. If you look at Manchester United, they have bars, restaurants, conferences continually generating revenue. Stadiums are becoming multi purpose facilities and we must ultimately follow.
I have no specific views on where this will lead, only that QPR remains the owner of the facility and any share arrangement is a sublet to the third party.Originally on QPR1st. Now on Dave's QPR


HALEEM KHERALLAH - BBC -29 April, 2003, QPR takeover bid tabled
A West End-based businessman is bidding to take control of Queens Park Rangers.
Haleem Kherallah, 37, has tabled an offer for a 26% stake currently held by the present board of directors.
He is also looking to purchase shares still held by former chairman Chris Wright.
Capturing both blocks of shares would enable Kherallah to become QPR's main shareholder and chairman.
Kherallah said: "I am completely and totally committed to this. The club has so much potential and I can give it the stability it has been lacking.
"I'm not looking for an ego trip or to make money out of it. I am a football fanatic and want to make QPR successful again.
"The future is bright if we can get the finances in order. The first and most important step is to tackle the debts and I am determined to do that."
He added: "The potential is there both on and off the pitch. Were it not for a couple of dodgy results we would have been promoted instead of Crewe.
"If we had not lost the points at home to Tranmere because of mistakes, or conceded a flukey goal against Wigan, we would be where Crewe are now - that's how close it was in the end." BBC

BBC June 25, 2003 - QPR takeover stalemate
Businessman Haleem Kherallah says he is ready to abandon his bid to take over Queens Park Rangers.
I am done with trying to talk to these people
Businessman Haleem Kherallah
Kherallah claims the club's board are hostile to his offer because they are keen to stay in their positions.
"They don't want someone with fresh ideas," he said. "They want to keep their jobs.
"People have asked me not to give up, but it's clear my offer is not going to be accepted.
"I am done with trying to talk to these people."
The current directors are fully prepared to step aside if required
QPR chief executive David Davies
Kherallah's claim has been strongly denied by QPR chief executive David Davies.
Both he and chairman Nick Blackburn have stated that they would be willing to step aside.
"It has always been made clear to interested parties that they would not be prevented from replacing people if it would put the club in a better position," said Davies.
"The accusation that people are holding onto their positions is not justified.
"The current directors are fully prepared to step aside if required."
Meanwhile, QPR veteran Steve Palmer has signed a new one-year deal.
The 35-year-old was recently offered a role as player-coach at Wimbledon, but the move broke down after the Dons went into administration.
A financial dispute with his former club Watford over the deal that saw Palmer join the R's two years ago has also had to be settled in order for him to re-sign at Loftus Road. BBC

June 23, 2003- The Kilburn Times/Dave McIntyre- FORGET IT
Haleem Kherallah has abandoned his bid to take control of QPR and accused the current board of snubbing him in order to protect their jobs.
The news comes as the board continued talks with Australian-based businessman David Thorne, who is offering a loan in exchange for shares.
A condition of Thorne's offer is that chairman Nick Blackburn, chief executive David Davies and Ross Jones, chairman of the club's holding company, QPR Holdings, remain.
Kherallah, however, wants major changes. And he insists his bid has been overlooked because the old guard want to stay in place.
"This is them securing their jobs," Kherallah said. "This is a club in trouble and there is someone wanting to put money in. Instead they are interested in someone lending more money, raising the debt and increasing the money secured against the stadium.
"It's so they can carry on. They don't want someone with fresh ideas that will see some of the things wrong and change them. They want to keep their jobs.
"For them to wait for someone to give them money so they can carry on enjoying being a director is hard to accept, and I've had enough.
"I believe the club is heading for major problems and it will be the fans that will be left to pick up the pieces. "If, in the future, someone comes to me and says the board are gone and we can start again, I will be there. But I am done with trying to talk to these people."
Kherallah has been trying to purchase two batches of shares - a 16 per cent stake still held by former chairman Chris Wright, and a 26 per cent shareholding held in trust by Loftus Road directors since the refinancing deal that led to the club coming out of administration.
Snapping up both sets of shares would see Kherallah become the major shareholder and chairman. "There are many issues facing the club and all these people are interested in is what happens to them," he claimed. "From the first time I was in talks they wanted to know what would happen to their positions.
"I've said I want changes at the top and for anyone that does stay, there will be no more giving themselves salary increases and things like that.
"I want QPR to be run by football people, businesspeople, fans and also professional lawyers and accountants that will run the place properly. I don't think that's what the board wanted to hear.
"They are keeping me at arm's length because of that and when I spoke to Chris Wright, it was going well and the next thing he is insisting Nick Blackburn stays."
Kherallah has always said he wanted control of the club in exchange for his money. He says he rejected the offer of a place on the board and a 10 per cent stake "because it's a new start or nothing."
He added: "Anyone putting their own money in who is a responsible businessman wants to make decisions. "The club is in trouble. Why on earth would I hand my money to people who caused this mess to spend as they see fit? "They want me to put my money in for them to carry on writing the cheques. "That's what the other guy (Thorne) is offering. I refuse to agree to that. It's just not acceptable."
Kherallah is also angry about comments attributed to Davies, suggesting he only tabled a bid after Rangers reached the play-offs and seemed destined for Division One.
"That is ridiculous," said Kherallah. "I waited because they did this refinancing deal and David Davies kept telling me there was no urgent need. "Then the money ran out and he came to me saying 'Now's the time - we need money' and I was there.
"The bid was just before the play-offs because they were running out of money just before the play-offs. "Before then, they were telling everyone what a good job they were doing and that the club was heading in the right direction.
"David Davies knows that after we lost the play-off final, I made an improved offer stating there would be extra funds for Ian Holloway because we needed to improve certain areas to get promoted next season.
"I wanted to bring some fresh impetus after the disappointment of Cardiff. "The first thing I wanted was to give Ian Holloway a new contract. I wanted to let him get on with improving things on the pitch while I improve things off the pitch.
"It was a chance for a fresh start. Now I fear the fans will be hearing the same thing again and again about financial problems.
"People have asked me not to give up, but it's clear my offer is not going to be accepted." Kilburn Times (Via Dave's QPR Site)


TIM KRAUSE: BBC- February 12, 2003 - QPR clinch USA link
QPR have announced details of a link-up with US outfit Milwaukee Wave.
The deal, which was agreed in principle in December, follows talks between Rangers chief executive David Davies and Wave supremo Tim Krause.
Wave, who are based in Wisconsin, are an indoor soccer side.
But they will be fielding a Division Two outdoor team called Milwaukee Wave United in the A-League - the American equivalent of the English First Division - this season.
Davies and Kraus were brought together by Brian Melzack, who fronted a consortium that almost took over at Loftus Road last year.
The tie-up will initially involve the co-staging of Soccer Schools this summer, while players are likely to be exchanged between the two clubs as part of the arrangement.
But the link may not end there.
Krause has been approached about investing in QPR.
He is one of several parties interested in a block of shares former Rangers chairman Chris Wright agreed to free up when the club came out of administration last year.
The shares total around 25% and are also being eyed by an Italian group that has held talks with the club.
Other interested parties include another former member of the Melzack consortium, and also local businessman Kevin McGrath, who recently joined the QPR board. BBC


BBC 9 July, 2003, - Cash boost for QPR - Bill Power Joins Board
Queens Park Rangers fan Bill Power has joined the Loftus Road board after pumping £200,000 into the club.
Power becomes the third supporter to be offered a directorship after injecting cash into QPR, following Harold Winton and Kevin McGrath.
"It's a dream come true to join the board and I'm really pleased," Power told BBC Sport.
"I'm from White City and have supported Rangers all my life. To be able to help QPR in this way means a lot to me.
"I haven't been part of any of the bids to take over the club and I don't have any agenda other than wanting to help the club as best I can." BBC


And earlier takeover efforts

18 March, 2002 - [Harold Winton] QPR bid withdrawn

BBC - September 2001: Melzack's hopes grow

BBC - 1 August, 2001, Ellis pulls out of QPR bid

8 June, 2001, Thompson eyes QPR return

29 May, 2001 - Winkleman confirms QPR bid

BBC, April 4 2001 "4 April, 2001New takeover bid for QPR