QPR Chairman Says QPR Saved! Briatore to Take Over

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[For more re Flavio Briatore, see Flavio Briatore/Wikipedia and Flavio Briatore Website.. }

The Sun - F1 chief Flavio is a Ranger
By PAUL JIGGINS -August 17, 2007

FORMULA ONE chief Flavio Briatore has won the race to buy QPR.
The Renault boss will complete a £22million deal for the Londoners early next week.
It follows three months of negotiations between the Italian tycoon and Rangers chairman Gianni Paladini.
Billionaire Briatore has agreed to wipe out Rangers’ £17m debt — saving the club from going bust.
He is also expected to give boss John Gregory cash to splash in January’s transfer window.
Paladini will stay on as chairman at Loftus Road.
And last night he said: “It’s a dream come true for QPR fans and saves this club from liquidation.
"Mr Briatore wants to do for QPR what Mohamed Fayed has for Fulham and turn us into a Premier League club.”
Flamboyant Briatore, 57, is renowned for having a shrewd business brain.
He transformed the US operations of fashion firm Benetton and turned just five stores into 800.
In 1989 Luciano Benetton asked him to work his magic on his F 1 outfit — and two years later Briatore signed Michael Schumacher.
And in 2003 he promoted reigning Formula One champ Fernando Alonso — who was then Renault’s test driver — to the team.
Briatore has a lavish home in London and last night his spokesman said: “Mr Briatore is looking forward to being involved with English football.
“QPR is a club with a rich history and fine future now.” The Sun

Reuters - Renault chief to become QPR owner, report says
Fri Aug 17, 2007
Flavio Briatore, who runs the Renault Formula One team, is set to become the new owner of English second division club Queens Park Rangers.
"Mr Briatore wants to do for QPR what Mohamed Al Fayed has done for Fulham and turn us into a Premier League club," Rangers chairman Gianni Paladini told the Sun newspaper on Friday.
"It is a dream come true for all the fans and saves this club from liquidation."
Billionaire Briatore, 57, will wipe out QPR's debt of 17 million pounds and invest an extra 100 million pounds over three years, the Sun reported.
Rangers were last in the Premier League in 1996. Reuters