One Year Ago, QPR Appeared On The Brink...Ex-QPR Snippets

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A Year ago today, QPR appeared to be on the brink: A takeover bid by Briatore had been made; reported disputes between QPR Holdings Chairman, Antonio Caliendo and QPR Chairman, Gianni Paladini over accepting the bid.

In The August 16, 2007 edition of the Daily Telegraph, Sun, Mirror and Star: QPR Chairman Paladini was warning of Administration in two weeks if rescue package not adopted.

Meanwhile The Daily Mail that day reported on "Another week of chaos at QPR..." Deal or no deal for Paladini.

AP meanwhile was reporting "[QPR]Queens Park Rangers may be forced into financial administration unless a takeover deal is revived..." AP

Dave McIntyre in the Ealing Gazette provided an analysis and explanation of the issues "Paladini hopes for Flavio takeover. But Caliendo keeps options open
"Hopes of a takeover of QPR by a group which includes Renault boss Flavio Briatore have been raised – less than 24 hours after the deal seemed to be dead.
But major shareholder Antonio Caliendo, who will ultimately decide Rangers’ fate, is also in talks with three other interested parties.
A growing rift between Caliendo and QPR chairman Gianni Paladini descended into all-out war ahead of Tuesday night’s match against Leyton Orient.
The row has erupted as Rangers face meltdown unless a takeover or major injection of cash is agreed within weeks.
With Paladini trying to broker a buy-out by a group fronted by Briatore, and Caliendo unhappy with the proposed deal, a storm was brewing ahead of Rangers’ first home game of the season.
Two years after Caliendo and Paladini combined to take charge of the club, the pair were on course to fight each other for control at an all-important board meeting scheduled for later this month.
But the showdown took place earlier than expected, and on Tuesday, Paladini faced the prospect of being ousted.
Caliendo told his one-time ally that he was being dismissed as chairman and then released a terse statement on the club’s website declaring that QPR was not for sale.
Paladini is no stranger to this type of battle for control – it’s his third since he joined the board in 2004.
Later that year he teamed up with Bill Power to remove the then chairman Nick Blackburn, chief executive David Davies and company chairman Ross Jones.
But the Paladini-Power alliance descended into a bitter feud and a year later, Power, who had replaced Blackburn as chairman, was removed after losing a key boardroom vote.
Mark Devlin was promptly sacked as chief executive and Kevin McGrath, the largest shareholder outside the Italian group who collectively own Rangers, later resigned as a director.
That victory, and Power’s subsequent selling of his shares, gave Paladini and Caliendo ownership but their time at the helm has been blighted by problems on and off the pitch.
Earlier this year, Caliendo and his Monaco-based backers stopped covering Rangers’ ongoing losses.
They have loaned the club several million pounds, and repayment is a stumbling block to a possible takeover.
Paladini, who recently declared that he and his colleagues would sell their shares for the price they paid for them, wants Caliendo to agree to the Briatore offer.
Paladini is in line for a lucrative contract to run the club should the deal he favours go ahead, and he believes it will make Rangers one of the biggest clubs in London. Even Paladini’s enemies – and he has made several – who remain close to events at QPR privately admit that the Briatore-linked bid offers by far the best financial package for the club.
But it offers Caliendo and his backers relatively little, causing anger at the way negotiations have been conducted on their behalf.
There has also been anger among other interested parties, who say they have been given short shrift by Paladini despite him publicly declaring that the club may go bust inside a month if a takeover or fresh investment is not secured.
Scare stories about clubs possibly going under are common, and the threat to QPR’s existence has been exaggerated in the past. But now the threat is very real, and time is not on Rangers’ side.
A £1.3million bridging loan from ABC Corporation has been repaid, averting the immediate prospect of them acquiring the Loftus Road ground.
But around £1million must be paid to the Inland Revenue at the end of the month and as things stand, QPR have no ability whatsoever to make that payment and they face administration – or worse – unless a takeover is agreed.
So as Orient left west London on Tuesday hoping for a moneyspinning tie in the next round of the Carling Cup, Rangers’ future was in the balance.
An appparent breakthrough occurred on Wednesday afternoon, with Caliendo appearing to be willing to speak to the Briatore-linked group.
But while the champagne was back on ice within Loftus Road and hopes were again high that a deal may be imminent, Caliendo was in discussions with another interested party as he continues to consider his options.
A key issue for QPR is the troublesome £10million ABC loan, which a previous board secured prior to Rangers coming out of administration in 2002.
Interest payments of around 11per cent are a potential noose around the club’s neck and the terms of that deal were changed when the recent additional £1.3million loan was arranged.
Ominously, ABC can now acquire the freehold on Loftus Road if the original £10million loan is not resolved by August next year.
Briatore’s group plan to take on this loan themselves at a much more favourable interest rate – probably around 6.5 per cent.
One of the parties in talks with Caliendo has suggested they can refinance the loan at around 8.5 per cent.
But the immediate pressure on both QPR and Caliendo is the forthcoming tax bill.
It puts the pressure on QPR for obvious reasons but is also a bargaining chip for Paladini and the Briatore group, because it leaves Caliendo facing the possibility of the club going under, leaving him with even less than he could salvage from the current offer. Unless, that is, he finds an alternative buyer. Ealing Gazette


The Next Day, August 17, 2007, a very different situation with the headlines now
QPR Chairman Says QPR Saved! Briatore to Take Over
- Reuters - Renault chief to become QPR owner, report says
- The Sun - F1 chief Flavio is a Ranger
- Daily Mail - Briatore buy-out keeps QPR going


Elsewhere: QPR and Ex-QPR in The News Today

Unscientific - and hopefully not going to happen. Poll of Yahoo Sports expect to see Iain Dowie Axed: "Queen's Park Rangers boss Iain Dowie's days at Loftus Road are numbered, according to readers of eurosport.yahoo.com." Article/Poll -- Poll Results


Nice Profile of and Interview with Peter Crouch in The Independent. (Not about QPR, but Crouch comes across really well.


Shabbaz Baidoo still up in the air "...The Lewes boss must decide whether to make changes tomorrow although his options are limited with a small squad. Zac Beda is still out with a groin injury, striker Tom Lyons warmed up with the players on Tuesday although he is yet to sign while the door has not been closed on former QPR and Dagenham striker Shabazz Baidoo. .." The Argus


Dominic Shimmin at Morton "...Dominic Shimmin’s best position may be central defence, but he looked assured enough at right back last week when forced to switch..." Greenock Telegraph


Yeovil's Mark Bircham Still Out with Hamstring Injury - Yeovil


-Ex-player, coach and Caretaker Manager, John Hollins, still Managing. His Weymouth team are currently second in the Blue Square Premier Table. "Hollins thrilled as Terras win to move into second spot..." Report


Finally, this was written prior to last week's QPR's game at Harrow,
Harrow Observer/Aug 7 Fans urged to turn up for Rangers money spinner
Harrow Borough boss David Howell is urging fans to turn up in their droves for next Wednesday's final pre-season game against Championship contenders Queens Park Rangers as a bumper crowd could aid his side's fortunes in the new campaign.
Howell is operating on one of the lowest budgets in the Ryman Football League Premier Division and cash generated by a sizeable crowd for the visit of Iain Dowie's side to Earlsmead would help loosen the shackles on the manager's hands.
More than 600 fans, many of them Hoops followers based in Harrow and the surrounding areas, attended last season's pre-season fixture, which the visitors won 3-0, but this time the friendly falls on a somewhat awkward date for Borough.
QPR open their new league campaign with a home clash against Barnsley on Saturday before travelling to face Swindon Town in the Carling Cup on Tuesday, 24 hours before the Earlsmead contest.
However, with QPR then facing another away trip, a league clash at Sheffield United on the following Saturday, it could tempt fans who are Loftus Road regulars to see their heroes at close quarters on Wednesday without the need for an arduous 10-hour round trip.
"The budget is very limited at the club," said Howell. "It relies on contributions from the vice-president and other bodies to keep it alive. Money is so incredibly tight that I've got to get a return for anything I pay out. Running costs include coach travel to away games, to hiring training facilities at Northolt School.
"The calibre of players is also affected; I've had some managers keen to offer me players but they know we have no money. They don't want to push players our way as they know they can't get anything for playing.
"We don't have the strength and depth and what I need is players who can deliver more on a consistent basis rather than flashes of brilliance now and again."
Howell, a staunch Hoops fan, was delighted with the turnout for the corresponding fixture last year and is hoping for a repeat next week.
"If we get anywhere near the gate we had last season I will be happy," added the Borough boss. "The money from that game took us up to Christmas on the budget, covering our £1,000-a-week running costs. If we can do that again this year it would be brilliant.
"There are a lot of QPR fans in the area and this will almost be more of a home game for them than at Loftus Road. It is just unfortunate the game comes after they have started their season, but it was the only date we could both play on.
"It doesn't matter whether they bring a team with players for the future or include players returning from injury. You can see the size of their squad and the quality of players they are signing. It will be a relaxed atmosphere at Earlsmead and the fans will be able to get autographs at the end.".. Harrow Observer -- Also (alread posted) - Harrow 3 QPR XI 2 Match Report