Post by QPR Report on Aug 20, 2009 6:57:21 GMT
15 year Flashback - August 20, 2007
As Nick De Marco, Kevin Steele and James Ferrary resigned prior to the takeover. They were all "interesting" Board appointments
QPR Holdings Board of Directors Resigns as Preparatory Step to Takeover-
QPR Official Site - BOARD CHANGES
Posted on: Mon 20 Aug 2007
The Board of Directors of QPR Holdings Ltd have tendered their resignations with immediate effect ahead of potential new investment.
Speaking to www.qpr.co.uk earlier today, out-going Board members Nick De Marco, James Ferrary and Kevin Steele issued the following statement.
"We are delighted to be able to tender our resignations from the Board of Queens Park Rangers Football Club in order to assist in the changes set to take place this week.
We believe the new investment coming into the Club will be the most important for years; will save QPR from the perilous financial position we have found ourselves in over the past years; and should put the Club in an excellent position to move forward.
We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as Chairman of the Club. Gianni has had a difficult job keeping the Club going but he has pulled off a master-stroke in bringing in this new investment.
We are also deeply grateful to Antonio Caliendo and Franco Zanotti for both financing the Club over the past years and for the terms upon which they have agreed to assist with the new investment.
We are certain the new investors and the new board will get behind John Gregory and give him the support he needs. We are also positive that the fans can get behind a new board and continue in their loyal and unrivalled support for the team.
It has been an honour for all of us to serve this great Club, and we are grateful to all the staff and supporters we have had the pleasure to work with."
*The Club will be making no further comment at this stage.
qprreport.blogspot.com/2007/08/qpr-holdings-board-of-directors-resigns.html
And the Press:
TIMES ONLINE August 20, 2007
QPR board resigns ahead of takeover
Times Online and Agencies
The board of directors at Queens Park Rangers have resigned from their posts with immediate effect ahead of potential new investment in the club.
Flavio Briatore, the Renault Formula One team boss, has been widely tipped to complete a �22 million takeover at Loftus Road this week.
The outgoing board members of QPR Holdings Ltd Nick De Marco, James Ferrary and Kevin Steele issued a statement saying: "We believe the new investment coming into the club will be the most important for years. It will save QPR from the perilous financial position we have found ourselves in and should put the club in an excellent position to move forward.
"We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as chairman of the club.
The Times
PA Sports - BOARD RESIGN AT QPR
The board of directors of QPR Holdings Ltd have resigned from their posts with immediate effect ahead of potential new investment.
Renault Formula One team boss Flavio Briatore has been widely tipped to complete a �22million takeover of the Championship club this week. And ahead of the expected announcement, outgoing board members Nick De Marco, James Ferrary and Kevin Steele issued a statement on the club�s official website.
"We believe the new investment coming into the club will be the most important for years. It will save QPR from the perilous financial position we have found ourselves in and should put the club in an excellent position to move forward," read the statement. PA Sports
BBC - QPR move step closer to takeover
Briatore may be set to be part of the QPR takeover
QPR's board of directors have resigned ahead of an expected takeover by a group that includes Renault Formula One team boss Flavio Briatore.
It comes after major shareholder Antonio Caliendo and his backers agreed to sell their stake in the club.
Gianni Paladini will stay on as chairman, but James Steele, Nick De Marco and James Ferrary are leaving.
"The new investment will be the most important for years," said a statement from the trio of ex-board members.
The statement continued: "It will save QPR from the perilous financial position we have found ourselves in and should put the club in an excellent position to move forward.
"We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as chairman of the club.
"We are certain the new investors and the new board will get behind manager John Gregory and give him the support he needs." BBC
qprreport.blogspot.com/2007_08_01_archive.html
David McIntyre/Ealing Gazette - August 20,2007
Caliendo paves way for new Italian regime Rangers all set for change of ownership
Major shareholder Antonio Caliendo has finally agreed to sell his stake in QPR to a group that includes Renault Formula One team boss Flavio Briatore.
The proposed deal ran into serious trouble last week when Caliendo released a statement saying the club was not for sale following a furious row with Rangers chairman Gianni Paladini prior to Tuesday night’s Carling Cup game against Leyton Orient.
Talks resumed the next day and the buy-out looked to be back on.
Yet even as Paladini and his allies were celebrating, Caliendo was talking to other interested parties about a possible alternative deal.
But Caliendo is now ready to sell to the new Italian regime and is due to formally sign over his shares on Tuesday.
Paladini, who is selling most of his share, is to stay on as chairman but - at the request of the incoming new owners – the rest of the QPR board of directors have resigned.
Kevin Steele, who did much of the work to secure the takeover, is stepping down along with Nick De Marco and recently-appointed director James Ferrary.
Caliendo and his Monaco-based backers have been involved with QPR since 2004.
Former Brazil captain Dunga was part of the group as were a number of other individuals, including former Argentina international Ramon Diaz.
At one stage, Diaz was in line to take over as manager before a winning run saw Ian Holloway cling onto the job.
Paladini and the Monaco-based groups collectively owned a majority of shares in QPR under the guise of companies Moorbound, Barnaby and Wanlock.
Three new companies will now similarly own a majority stake as part of the takeover agreement.
One of the first tasks facing the new owners will be to rid Rangers of the troublesome £10million loan arranged prior to the club coming out of administration in 2002.
The interest rate of around 11 per cent has been a major burden and the terms of that deal were changed when a recent additional £1.3million loan was agreed.
ABC Corporation can now acquire the freehold on Loftus Road if the original £10million loan is not resolved by August next year.
The new owners plan to take on this loan themselves at a much more favourable interest rate – probably around 6.5 per cent. Ealing Gazette
qprreport.blogspot.com/2007/08/qpr-takeover-further-details.html
Daily Mail - QPR Takeover is Near - 20th August 2007
Bernie Ecclestone's takeover of Queens Park Rangers moved a step nearer on Monday when the board of directors of QPR Holdings Ltd resigned from their posts, claiming that major new investment was imminent.
As the Formula One chief and Renault team boss Flavio Briatore prepared to complete a joint £22million deal for the Championship club, as first revealed in Sportsmail, outgoing board members Nick De Marco, James Ferrary and Kevin Steele issued a statement saying: 'We believe the new investment coming into the club will be the most important for years.
'It will save QPR from the perilous financial position we have found ourselves in and put the club in an excellent position to move forward.' Daily Mail
DAILY MIRROR - Briatore's QPR wow - By Lee West 21/08/2007
Qpr fans have reacted with delight to the news that Formula One supremo Bernie Ecclestone and Renault boss Flavio Briatore are on the verge of investing in the Loftus Road club.
The entire board of QPR Holdings Ltd - who have been financing the club - resigned yesterday, claiming that 'major investment is imminent', with Ecclestone and Briatore set to hand boss John Gregory a transfer war-chest running into millions of pounds.
Paul Finney, from QPR Independent R's Supporters Club, said: "This is superb news. It amounts to a new start for the club and it means that the fans could finally get the club we deserve. Mirror
As Nick De Marco, Kevin Steele and James Ferrary resigned prior to the takeover. They were all "interesting" Board appointments
QPR Holdings Board of Directors Resigns as Preparatory Step to Takeover-
QPR Official Site - BOARD CHANGES
Posted on: Mon 20 Aug 2007
The Board of Directors of QPR Holdings Ltd have tendered their resignations with immediate effect ahead of potential new investment.
Speaking to www.qpr.co.uk earlier today, out-going Board members Nick De Marco, James Ferrary and Kevin Steele issued the following statement.
"We are delighted to be able to tender our resignations from the Board of Queens Park Rangers Football Club in order to assist in the changes set to take place this week.
We believe the new investment coming into the Club will be the most important for years; will save QPR from the perilous financial position we have found ourselves in over the past years; and should put the Club in an excellent position to move forward.
We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as Chairman of the Club. Gianni has had a difficult job keeping the Club going but he has pulled off a master-stroke in bringing in this new investment.
We are also deeply grateful to Antonio Caliendo and Franco Zanotti for both financing the Club over the past years and for the terms upon which they have agreed to assist with the new investment.
We are certain the new investors and the new board will get behind John Gregory and give him the support he needs. We are also positive that the fans can get behind a new board and continue in their loyal and unrivalled support for the team.
It has been an honour for all of us to serve this great Club, and we are grateful to all the staff and supporters we have had the pleasure to work with."
*The Club will be making no further comment at this stage.
qprreport.blogspot.com/2007/08/qpr-holdings-board-of-directors-resigns.html
And the Press:
TIMES ONLINE August 20, 2007
QPR board resigns ahead of takeover
Times Online and Agencies
The board of directors at Queens Park Rangers have resigned from their posts with immediate effect ahead of potential new investment in the club.
Flavio Briatore, the Renault Formula One team boss, has been widely tipped to complete a �22 million takeover at Loftus Road this week.
The outgoing board members of QPR Holdings Ltd Nick De Marco, James Ferrary and Kevin Steele issued a statement saying: "We believe the new investment coming into the club will be the most important for years. It will save QPR from the perilous financial position we have found ourselves in and should put the club in an excellent position to move forward.
"We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as chairman of the club.
The Times
PA Sports - BOARD RESIGN AT QPR
The board of directors of QPR Holdings Ltd have resigned from their posts with immediate effect ahead of potential new investment.
Renault Formula One team boss Flavio Briatore has been widely tipped to complete a �22million takeover of the Championship club this week. And ahead of the expected announcement, outgoing board members Nick De Marco, James Ferrary and Kevin Steele issued a statement on the club�s official website.
"We believe the new investment coming into the club will be the most important for years. It will save QPR from the perilous financial position we have found ourselves in and should put the club in an excellent position to move forward," read the statement. PA Sports
BBC - QPR move step closer to takeover
Briatore may be set to be part of the QPR takeover
QPR's board of directors have resigned ahead of an expected takeover by a group that includes Renault Formula One team boss Flavio Briatore.
It comes after major shareholder Antonio Caliendo and his backers agreed to sell their stake in the club.
Gianni Paladini will stay on as chairman, but James Steele, Nick De Marco and James Ferrary are leaving.
"The new investment will be the most important for years," said a statement from the trio of ex-board members.
The statement continued: "It will save QPR from the perilous financial position we have found ourselves in and should put the club in an excellent position to move forward.
"We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as chairman of the club.
"We are certain the new investors and the new board will get behind manager John Gregory and give him the support he needs." BBC
qprreport.blogspot.com/2007_08_01_archive.html
David McIntyre/Ealing Gazette - August 20,2007
Caliendo paves way for new Italian regime Rangers all set for change of ownership
Major shareholder Antonio Caliendo has finally agreed to sell his stake in QPR to a group that includes Renault Formula One team boss Flavio Briatore.
The proposed deal ran into serious trouble last week when Caliendo released a statement saying the club was not for sale following a furious row with Rangers chairman Gianni Paladini prior to Tuesday night’s Carling Cup game against Leyton Orient.
Talks resumed the next day and the buy-out looked to be back on.
Yet even as Paladini and his allies were celebrating, Caliendo was talking to other interested parties about a possible alternative deal.
But Caliendo is now ready to sell to the new Italian regime and is due to formally sign over his shares on Tuesday.
Paladini, who is selling most of his share, is to stay on as chairman but - at the request of the incoming new owners – the rest of the QPR board of directors have resigned.
Kevin Steele, who did much of the work to secure the takeover, is stepping down along with Nick De Marco and recently-appointed director James Ferrary.
Caliendo and his Monaco-based backers have been involved with QPR since 2004.
Former Brazil captain Dunga was part of the group as were a number of other individuals, including former Argentina international Ramon Diaz.
At one stage, Diaz was in line to take over as manager before a winning run saw Ian Holloway cling onto the job.
Paladini and the Monaco-based groups collectively owned a majority of shares in QPR under the guise of companies Moorbound, Barnaby and Wanlock.
Three new companies will now similarly own a majority stake as part of the takeover agreement.
One of the first tasks facing the new owners will be to rid Rangers of the troublesome £10million loan arranged prior to the club coming out of administration in 2002.
The interest rate of around 11 per cent has been a major burden and the terms of that deal were changed when a recent additional £1.3million loan was agreed.
ABC Corporation can now acquire the freehold on Loftus Road if the original £10million loan is not resolved by August next year.
The new owners plan to take on this loan themselves at a much more favourable interest rate – probably around 6.5 per cent. Ealing Gazette
qprreport.blogspot.com/2007/08/qpr-takeover-further-details.html
Daily Mail - QPR Takeover is Near - 20th August 2007
Bernie Ecclestone's takeover of Queens Park Rangers moved a step nearer on Monday when the board of directors of QPR Holdings Ltd resigned from their posts, claiming that major new investment was imminent.
As the Formula One chief and Renault team boss Flavio Briatore prepared to complete a joint £22million deal for the Championship club, as first revealed in Sportsmail, outgoing board members Nick De Marco, James Ferrary and Kevin Steele issued a statement saying: 'We believe the new investment coming into the club will be the most important for years.
'It will save QPR from the perilous financial position we have found ourselves in and put the club in an excellent position to move forward.' Daily Mail
DAILY MIRROR - Briatore's QPR wow - By Lee West 21/08/2007
Qpr fans have reacted with delight to the news that Formula One supremo Bernie Ecclestone and Renault boss Flavio Briatore are on the verge of investing in the Loftus Road club.
The entire board of QPR Holdings Ltd - who have been financing the club - resigned yesterday, claiming that 'major investment is imminent', with Ecclestone and Briatore set to hand boss John Gregory a transfer war-chest running into millions of pounds.
Paul Finney, from QPR Independent R's Supporters Club, said: "This is superb news. It amounts to a new start for the club and it means that the fans could finally get the club we deserve. Mirror
