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Thursday, August 16, 2007

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

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Even AP...So across the world people now know about QPR's status/situation!

LONDON (AP) — Queens Park Rangers may be forced into financial administration unless a takeover deal is revived.
The League Championship side must pay a 1.3 million pound (US$2.6 million; €1.9 million) tax bill to Britain's Inland Revenue by the end of August, but talks with Renault Formula One team principal Flavio Briatore over a 30 million pound (US$59.5 million; €44.4 million) takeover have stalled.
"There is now a huge concern over the club's future," QPR chairman Gianni Paladini was quoted as saying in Thursday's Daily Telegraph. "Flavio has made it plain that if one decimal point moves on the agreed price, he doesn't want to know. There is no one else ready to step in."
Football League rules mean any club entering financial administration — whereby a club can continue operations without selling off its assets to pay debts — is automatically deducted ten points from its league total. AP

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