The Big Unanswered Question: How Much of a Change Really Took Place? What Percentage of QPR is Now Owned By the Mittals?

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THE BRIATORE EXIT

The big question that QPR fans are wondering: How many shares actually changed hands? What percentage of the shares are now held by the Mittal Family, Flavio Briatore, Bernie Ecclestone (and any other share holdings).
Yesterday's Official Statement gave no indication "The Board of Directors of QPR Holdings Ltd today announces Flavio Briatore has decided to step down as Chairman with immediate effect. The Board has appointed Ishan Saksena as the new Chairman.
The Mittal Family has also taken the opportunity to increase its shareholding in the club...QPR would like to thank Flavio Briatore for his great contribution and commitment during his time as Chairman of the club, and wish him every success in his future endeavours.Both Flavio Briatore and Bernie Ecclestone remain shareholders of the club...."

There are various newspaper and messageboard rumours. But nothing conclusive. That can be easily remedied by a club statement. There is also a question whether there is any change re the post-ABC Loan status. That loan is now owed to Amulya, which itself is owned jointly by Bhatia and Briatore. Is there going to be any change regarding Briatore's involvement vis-a-vis Amulya?

- Trying to Understand the Share Holdings (Before any Mittal Buy of Briatore shares

- Reminder The "Successor" to the ABC Loan is owed to Amulya (which is owned by Briatore and Bhatia)

- Flashback: The Mittal QPR Involvement First Announced

- A Compilation of Past Amit Bhatia Statements re QPR

- The QPR Accounts from June 2009

Also:
- Three Year Flashback: Tony Roberts Suspended
- Nine Year Flashback: Iain Dowie: "I;d Love to Be Boss


YESTERDAY's (PREVIOUSLY-POSTED) NEWS STORIES RE THE CHANGE

- QPR Official Site NEW CHAIRMAN ANNOUNCED
- The Board of Directors of QPR Holdings Ltd today announces Flavio Briatore has decided to step down as Chairman with immediate effect. The Board has appointed Ishan Saksena as the new Chairman.
- The Mittal Family has also taken the opportunity to increase its shareholding in the club.

- Flavio Briatore said: "My three years as Chairman of QPR have been an exciting and incredible experience. I'm proud to have helped save this historical club and to have contributed in paving the way to its future success.

"Although my commitment to the club remains unchanged, I now feel the need to focus my energies into other fields as well. I'm very happy that my position as Chairman of QPR will go to Ishan Saksena. I'm sure he will do a brilliant job and under his leadership the club will soon achieve the stability and the good results we all expect."
- QPR would like to thank Flavio Briatore for his great contribution and commitment during his time as Chairman of the club, and wish him every success in his future endeavours.

Both Flavio Briatore and Bernie Ecclestone remain shareholders of the club.
- Amit Bhatia said: "I have known Ishan for 12 years now and I know his feelings for our club run very deeply. Our immediate priority must be to re-introduce stability into the club and safeguard our future in the Championship.
- "The season has been disappointing so far, but there are still many games to go. We must make every effort to end it positively, not least for our fans, the people who have continued to support and believe in the club through all the highs and lows. Together we can succeed."
- On his new appointment Ishan Saksena said: "Since becoming CEO, I have developed a great love and very strong passion for the club. It is therefore a great honour for me to assume this position. It is a position of trust and I will hold it with great pride.
- "I would like to thank Flavio for all his hard work during his time here and for the many positive additions he has made.
- "I must also express my gratitude to all our fans, who are the real owners of the club. I feel a real responsibility to repay their loyalty and intend to do all I can to bring the great days back to Loftus Road."

Gianni Paladini will resume the role of Chairman of Queens Park Rangers Football Club.

About Ishan Saksena:- Ishan Saksena is CEO and Managing Director of Queens Park Rangers Football Club. He has 10 years experience in Mergers & Acquisitions, private equity and asset management in North America, Europe and Emerging Markets.
- During his career, Ishan has been involved in multibillion dollar private equity transactions and restructuring within the consumer, retail, industrial and energy sectors.
- He is an alumnus of Cornell University, USA.
QPR



BBC - Flavio Briatore quits as QPR chairman but keeps shares

Flavio Briatore has stepped down as chairman of Queens Park Rangers Holdings with immediate effect.

Briatore and Formula One supremo Bernie Ecclestone bought the club in September 2007, with Briatore vowing they would be in the Premier League in five years.

But since they they have had an amazing 10 managerial changes and 47 players have been signed by the club.

They currently lie 19th in the Championship table and have lost their last five matches.

As a result of the boardroom reshuffle, the family of the world's fifth richest man, Lakshmi Mittal, has increased its shareholding in the club.

the_facts
Mittal's son-in-law Amit Bhatia was brought into the club by Briatore and Ecclestone in December 2007, buying a 20% stake and joining the board of directors.

Current managing director Ishan Saksena replaces the 61-year-old Italian, and Gianni Paladini will resume his role as chairman of the club.

Briatore and Ecclestone will retain their shareholding in the Loftus Road outfit.

"My three years as chairman of QPR have been an exciting and incredible experience. I'm proud to have helped save this historical club and to have contributed in paving the way to its future success," said Briatore. BBC


Reuters - Briatore resigns as QPR chairman
Sat Feb 20, 2010 Briatore steps down, remains shareholder

* Quits to focus energy on other areas

* Steel tycoon Mittal increases stake in club (adds details, quotes, byline)

By Tom Pilcher

LONDON, Feb 19 (Reuters) - Flavio Briatore stepped down as chairman of Championship (second division) team Queens Park Rangers on Friday, the club said in a statement.

"I'm proud to have helped save this historical club and to have contributed in paving the way to its future success," the 59-year-old Italian told QPR's website (www.qpr.co.uk).

Flamboyant former Renault team boss Briatore has spent almost 2-1/2 years at the club, having joined forces with Formula One supremo Ecclestone and steel tycoon Lakshmi Mittal to take it over in 2007 and help bring financial stability.

However, results on the pitch have been disappointing with QPR 19th in the standings, just one point above the relegation zone having lost their last five league games.

"Although my commitment to the club remains unchanged, I now feel the need to focus my energies into other fields," added Briatore, who will remain a QPR shareholder.

Briatore, who was banned for life from Formula One after his involvement in a plot to rig the 2008 Singapore Grand Prix but got the decision overturned, is likely to face an appeal by the International Automobile Federation (FIA).

Ishan Saksena, previously the west London club's managing director, is taking over as chairman of QPR Holdings Limited while former club chairman Gianni Paladini, who became sporting director when Briatore arrived, will resume his former duties.

Mittal's family has taken the opportunity to increase its shareholding in the club.
Reuters


AFP - Briatore quits as QPR chairman

LONDON — Flavio Briatore quit as chairman of Queens Park Rangers (QPR) on Friday while the family of Indian billionaire Lakshmi Mittal increased its stake in the English second division strugglers.

The controversial Italian, who effectively co-owns the west London side with Mittal and Formula One supremo Bernie Ecclestone, had been at the helm at Loftus Road for nearly two and a half years.

A club statement on Friday said that Ishan Saksena, the current QPR chief executive and managing director, would succeed Briatore, who remains a shareholder.

It added: "The Mittal Family has also taken the opportunity to increase its shareholding in the club."

Briatore said: "I'm proud to have helped save this historical club and to have contributed in paving the way to its future success.

"Although my commitment to the club remains unchanged, I now feel the need to focus my energies into other fields as well.

"I'm very happy that my position as chairman of QPR will go to Ishan Saksena.

"I'm sure he will do a brilliant job and under his leadership the club will soon achieve the stability and the good results we all expect."

Briatore's time as chairman was marked by the former Renault F1 team boss's habit of rapidly hiring and firing managers with six men, plus caretakers, all spending time in the QPR hotseat at the Italian's behest.

Such a turnover of managers -- there were 10 changes in all -- appeared to hinder their bid to return to the elite and lucrative Premier League, a division the club last played in back in 1996.

Briatore also oversaw the signing of 47 players, either on loan or on permanent deals.

QPR are currently 19th in the second division Championship and only a point above a relegation place that would drop them into the third tier of English football.

Briatore, who vowed to take Rangers back to the top flight within five years, was often reported to be interfering in team affairs throughout his tenure as chairman.

He was barracked by fans at half-time at the last game at Loftus Road, a 2-1 defeat by Ipswich Town and did not retake his seat in the directors' box for the second half.

His suitability as a football club chairman was also called into question when he was handed a lifetime ban by the FIA, motorsport's world governing body, for allegedly ordering Brazilian driver Nelson Piquet Jnr to crash at the 2008 Singapore Grand Prix.

But last month a French court overturned that ban.

Briatore, who took over at QPR in late 2007 along with Ecclestone, did help save the club from the brink of administration.

The family of Indian billionaire Mittal, who made his fortune in the steel industry, came on board at Loftus Road a couple of months later. AP


The Guardian - Flavio Briatore stands down at Queens Park Rangers• The former Renault F1 boss quits after two and half years
• Briatore succeeded as chairman by Gianni Paladini

Flavio Briatore has stepped down as chairman of Queens Park Rangers after two and a half years in charge.

Since taking joint charge at Loftus Road with Bernie Ecclestone, QPR have had more then ten managers.

Briatore said: "My time as chairman of QPR has been an exciting and incredible experience. I'm proud to have helped save this historical club and to have contributed in paving the way to its future success."

The former Renault F1 boss will be succeeded by Gianni Paladini, while Ishan Saksena is taking over as chairman of QPR Holdings Limited.

"I'm very happy that my position as chairman of QPR will go to Ishan Saksena," continued Briatiore, "I'm sure he will do a brilliant job and under his leadership the club will soon achieve the stability and the good results we all expect."
http://www.guardian.co.uk/sport/2010/feb/19/flavio-briatore-championship


The Times - February 20, 2010
Flavio Briatore quits as chairman of Queens Park Rangers

Briatore has stepped down after three years as chairman at Queens Park Rangers
Tom Dart

The chairman notorious for changing managers on Friday decided to replace himself. Flavio Briatore resigned from his post at Queens Park Rangers last night, bringing an end to one of the most notorious tenures in English football.

The job of QPR manager became the Death Valley of hot seats during the Italian’s time in charge. Managers arrived and left with dizzying speed: ten, including caretakers, in two-and-a-half years, as the Coca-Cola Championship club chased a top-flight dream that seems as far away now as it was when Briatore first appeared at Loftus Road.

The former principal of the Renault Formula One team became chairman of QPR Holdings, the club’s parent company, when the club was taken over in August 2007 by a consortium including Bernie Ecclestone, the Formula One empresario, and Lakshmi Mittal, the billionaire, who is one of the world’s richest men.

QPR said on Friday that the Mittal family have increased their stake in the club and that Briatore and Ecclestone remain shareholders. Ishan Saksena, the existing QPR chief executive and managing director, is the new chairman. He has a background in finance.

“My three years as chairman of QPR have been an exciting and incredible experience,” Briatore said in a statement. “I’m proud to have helped save this historical club and to have contributed in paving the way to its future success. Although my commitment to the club remains unchanged, I now feel the need to focus my energies into other fields as well.”

Incredible would seem an apt way to describe Briatore’s tenure. Accusations of excessive interference in team affairs have dogged the Italian’s reign, while nearly 50 players were signed, including loan deals, during a stint that featured six permanent managers.

The 61-year-old’s image was badly tarnished in September last year when he was given a lifetime ban from motor sport for his role in the Renault “Crashgate” race-fixing scandal. That called into question whether he was sufficiently “fit and proper” to remain as a director of QPR but his ban was overturned on appeal last month by a French court.

QPR enjoyed a good start to the campaign under Jim Magilton, but he parted company with the club in December after six months as manager after a dressing-room incident involving Akos Buzsaky, the midfield player, at a game against Watford. Magilton was replaced by Paul Hart, who resigned after only five games. A statement by the League Managers Association released on Hart’s behalf said that he was “very unhappy with certain situations”.

This week, Mick Harford, the caretaker manager, called on the board to make a permanent managerial appointment in order to halt the team’s slide towards relegation. Promotion had been the pre-season target but Briatore was booed by fans at half time last week as QPR lost at home to Ipswich Town and did not re-take his seat in the directors’ box for the second period. The defeat by Coventry City a week ago was QPR’s fifth successive loss and they lie a point outside the bottom three. They host Doncaster Rovers on Saturday having won once since November 7.

The hot-seat
Queens Park Rangers managers since August 2007
John Gregory Sacked on October 1, 2007, with QPR bottom of the Coca-Cola Championship. Mick Harford took caretaker charge.
Luigi De Canio The Italian, formerly coach of Napoli and Siena, took charge on October 29 but left the next May for personal reasons.
Iain Dowie Lasted only 15 games, leaving in October 2008. His departure sparked rumours that Briatore had interfered in team selection. Gareth Ainsworth replaced him as caretaker until mid-November.
Paulo Sousa Manager for five months but started legal proceedings after his dismissal in April last year for, the club said, divulging "confidential and sensitive information". Ainsworth again took temporary charge.
Jim Magilton Left "by mutual consent" last December after 23 matches, after a dressing-room incident with Akos Buzsaky.
Paul Hart Magilton’s successor quit in January after only four weeks and five matches. Harford again became caretaker-manager The Times


Staines News - Briatore leaves Rangers
Feb 19 2010

Flavio Briatore has stepped down as chairman of QPR.

The controversial Italian has been at the helm of the Coca-Cola Championship club for nearly two and a half years.

Ishan Saksena is taking over as chairman of QPR Holdings Limited, with Gianni Paladini resuming as chairman.

Briatore said: "My time as chairman of QPR has been an exciting and incredible experience.

"I'm proud to have helped save this historical club and to have contributed in paving the way to its future success.

"Although my commitment to the club remains unchanged, I now feel the need to focus my energies into other fields as well.

"I'm very happy that my position as chairman of QPR will go to Ishan Saksena.

"I'm sure he will do a brilliant job and under his leadership the club will soon achieve the stability and the good results we all expect."

Briatore, the former boss of the Renault F1 team, took over in late 2007 along with Bernie Ecclestone after saving the club from the brink of administration. Staines


QPR1st Statement QPR1st SUPPORTERS TRUST
New Chairman Announced
QPR fans had high hopes when Flavio Briatore became the Chairman of QPR and it appeared that a new dawn beckoned. Unfortunately it became increasingly clear that Briatore considered QPR his own personal vanity project. He had no interest in speaking to the supporters trust or independent supporters groups and his reported comments to the media suggested that he did not feel he needed to be accountable to the fans. As a result he became an increasingly unpopular figure and it is sad to say that few will be disappointed that he is no longer chairman.

We hope that the changes within the Board will mark a move to a more 'open dialogue' between the Club and the fans which Amit Bhatia endorsed in a recent correspondence to the supporters trust. We wish Ishan Saksena success as our new Chairman and appreciate his statement acknowledging that the fans are the 'real owners of the club'. We would like to thank Mr. Briatore for his work on behalf of the Club and regret that his tenure as Chairman of the Club did not live up to expectations.

We are looking forward to Amit confirming our request for a meeting and will be seeking further clarification regarding the club statement. In the meanwhile we urge all fans to get behind the lads. QPR1st