And this snippet also from Football Economy - Nice summarizing of our debts 'Crashgate' Raises Questions About QPR's Future
The Football League has declined to comment on Flavio Briatore's departure from the Renault Formula One team, but is understood to be monitoring the situation closely. If Briatore were to be investigated for alleged race fixing, then charged and found guilty by the FIA, his position as chairman of Queen's Park Rangers could be placed in jeopardy. If Briatore were to be suspended by the FIA, the Italian might no longer be acceptable to the League as a 'fit and proper person'. Anyone who is the subject of a ban from another sporting governing body is liable to be disqualified from owning a football club. Any disqualification could lead to questions about the continued involvement of Bernie Ecclestone, with whom he took over the club two years ago. Some QPR fans have already called on Briatore to stand own, arguing that he has put QPR in the headlines again for the wrong reason.
Briatore's £25m takeover included taking on a debt of £21m. Some QPR fans at the time talked about whether the Super Hoops or Real Madrid would be the biggest team in Europe. Loftus Road has been refurbished, ticket prices have risen,and Briatore lent the club £10m to pay off another debt to the ABC Corporation, run up after they helped the club leave administration eight years ago. However, Briatore's own debt is scheduled to be repaid next summer and he has since sold some of his stake to Lakshmi Mittal, reportedly the fifth-richest man in the world. There has been speculation that Mittal might be interested in taking on all of Briatore's stake.
No Immediate Bonanza For Super Hoops - 13/01/2008 Although the club has been active in the transfer market, there will no be no immediate bonanza for Queen's Park Rangers fans from the involvement of Britain's richest resident Lakshi Mittal...
Formula One Pair Confirm £20m Offer For QPR - 28/08/2007 Formula One chiefs Bernie Ecclestone and Flavio Briatore have confirmed their £20m offer for debt-saddled Championship club Queens Park Rangers...