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UPDATE
BBC QPR in talks with potential buyer for club stake
Queens Park Rangers says it is in talks with a potential buyer for a majority stake in the club.
In a statement, the club said it had entered into "preliminary discussions" with a view to a 67% sale of QPR Holdings Limited.
However, it said that the talks "may or may not result in an offer being made" for the west London club.
It comes as it was revealed this week that QPR Holdings lost £13.7m in the year to 31 May 2010.
Top flight
The accounts also showed that group turnover, and average matchday revenues were down during the 2009-10 period on the previous year.
As a result the club said it was now continuing to "look to reduce costs across all areas of the business in order to improve the group's loss-making position".
In the accounts vice-chairman Amit Bhatia states: "As the club's owners have emphasised previously, the key measure of the club's success is on-pitch performance, and a critical driver of any club's value is presence in the Premier League, which is the stated aim of the current ownership."
At present the team are top of the Championship and appear to have an excellent chance of returning to the top flight.
'Passionate'
On Friday, Mr Bhatia, who joined the board three years ago, reiterated the Premier League ambitions, and said his family was not selling its shares in the club.
Mr Bhatia is the son-in-law of one of the world's richest men, Indian tycoon Lakshmi Mittal.
"The club has today confirmed that it has entered into preliminary discussions relating to a potential sale of shares in QPR Holdings Ltd," said Mr Bhatia.
"My family and I would like to make clear that we are not part of these negotiations to sell our shares.
"We remain passionate about QPR and are working to achieve our immediate goal of providing Premier League football to our loyal supporters next season."
The club has also emphasised that the talks are at an early stage, and that there is no certainty that an offer for the shares will be forthcoming
BBC
DAILY MAIL - QPR Confirm sale talks but vice-chairman Bhatia insists he won't sell his Loftus Road stake
- Championship promotion hopefuls Queens Park Rangers have confirmed they have entered preliminary discussions over the prospective sale of the club.
But vice-chairman Amit Bhatia, the son-in-law of Indian steel tycoon Lakshmi Mittal, insists he is not involved in the talks as he looks to retain his significant stake in the west London club.
- He said: 'The club has today confirmed that it has entered into preliminary discussions relating to a potential sale of shares in QPR Holdings Ltd.
- 'My family and I would like to make clear that we are not part of these negotiations to sell our shares.
- 'We remain passionate about QPR and are working to achieve our immediate goal of providing Premier League football to our loyal supporters next season.'
Flying high: Neil Warnock's QPR side are top of the Championship and favourites for promotion
A statement posted on the official club website, meanwhile, read: 'In response to recent press speculation relating the potential sale of a 67 per cent shareholding in QPR Holdings Limited (the 'Company'), the Company confirms that it has entered into preliminary discussions, which may or may not result in an offer being made.
- 'It is emphasised that these talks are at an early stage, and that there is no certainty that an offer for the Company will be forthcoming.' Mail
- PA Sport - Bhatia committed to QPR
Vice-chairman Amit Bhatia has reaffirmed his commitment to QPR after the club issued a statement admitting they would consider a sale.
The npower Championship leaders have responded to press speculation by confirming that they have entered into "preliminary discussions" with a view to a 67% sale of QPR Holdings Limited.
"In response to recent press speculation relating the potential sale of a 67% shareholding in QPR Holdings Limited (the 'Company'), the Company confirms that it has entered into preliminary discussions, which may or may not result in an offer being made," read the statement.
"It is emphasised that these talks are at an early stage, and that there is no certainty that an offer for the Company will be forthcoming."
Yet Bhatia, who joined the board of directors at Loftus Road in December 2007, has no intention of selling his shares and said: "The club has confirmed that it has entered into preliminary discussions relating to a potential sale of shares in QPR Holdings Ltd.
"My family and I would like to make clear that we are not part of these negotiations to sell our shares.
"We remain passionate about QPR and are working to achieve our immediate goal of providing Premier League football to our loyal supporters next season." PA Sport
QPR Official Site - CLUB STATEMENT
Fri 04 Mar 2011
- In response to recent press speculation relating the potential sale of a 67% shareholding in QPR Holdings Limited (the 'Company'), the Company confirms that it has entered into preliminary discussions, which may or may not result in an offer being made.
- It is emphasised that these talks are at an early stage, and that there is no certainty that an offer for the Company will be forthcoming. QPR
[Note: As report by The Sun, March 2
The Sun/Shaun Custis - QPR in takeover talks
- QPR have entered into takeover talks with a group of American and Asian businessmen.
- SunSport understands the consortium want to acquire 67 per cent of the Championship leaders from the owners, headed by F1 boss Bernie Ecclestone.
Preliminary agreements have been signed and due diligence is taking place. An agreement could be reached by next week.
- A source said: "They're very serious and have the funds to back them in the Prem." The Sun
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