Horror Year Flashback - "Briatore Stalls QPR Sale"

[Macmoish]

Paul Warburton

Flavio Briatore stalls over QPR sale

Oct 15 2010 By Paul Warburton. Ealing Gazette

FORMER QPR chairman Flavio Briatore is ready to ditch the sale of his 70 percent stake in the Championship leaders – and reap the riches of a return to the Premiership instead.

Gazette sport has learned the heavily-criticised Italian is only too aware he and the club stand to make north of £50 million by joining the elite next season.

Unbeaten Rangers, six points clear at the top, have made Briatore stall on the sale, although the man who hired and fired nine managers in three years is angry talks between his agents and Kingfisher Beer mogul Vijay Millya have come to nothing.

Millya, who ironically has Formula One interests like Briatore, is understood to have been offered a way into the club by vice-chair Amit Bhatia with a view to bringing £20millon in sponsorship.

But negotiations have come to nothing – and Briatore along with pal Bernie Ecclestone, who also has a stake at Loftus Road, plan to laugh all the way to the bank.

A source said: “It costs the club £1million-a-month to function – with Briatore and Ecclestone doing most of the funding. You can see how being in the Premiership would ease the expenditure.”
A spokesperson for United Breweries, who market Kingfisher, was not available at time of going to press

www.ealinggazette.co.uk/sport/football-ealing/qpr-ealing/2010/10/15/flavio-briatore-stalls-over-qpr-sale-64767-27479152/

[cpr]

70% ? Someone inform the football league.

[Hogan]

Im not surprised by Flab not wanting to sell just yet.

If the club would have had the decency to inform the fanbase who owned what % of the club poor articles such as the one here wouldn't get written in the first place. The writer can't even get Vijay's surname spelling correct.

I would be very surprised if Flab was putting a £1M a month into the club. He was always too involved in many aspects of the team for the very reason that he trusts no one with his money.

[Macmoish]

Recall the club never announced what percentaged of additional shares Bhatia/Mittal bought when Saksena took over....Just vague...And Paladini refused to answer when asked on the Jnetradio...
We may despise Briatore. But he aint stupid. And he's only to squeeze as much money outof QPR as he can

[Zamoraaaah]

Gianni has...I mean WATRBurton has spoken.

[Hogan]

Indeed. I don't blame Flab, if it was anyone else they would want to get the best deal they can for themselves. There is no way the FB/BE combined share ownership is 70%.

I would like to know why The Mittals and club choose not to inform us the fans how much of the club they now own.

[Macmoish]

Snippet from Dave McIntyre/Twitter

"-there's nothing to stall over, the whole thing's a load of nonsense. As was notion that Briatore 'left' in the first place."

[Jon Doeman]

Which part is nonsense? Can someone explain what he means, I'm a bit thick!

[samp99]

Oct 15, 2010 12:36:06 GMT Hogan said:

Im not surprised by Flab not wanting to sell just yet.

If the club would have had the decency to inform the fanbase who owned what % of the club poor articles such as the one here wouldn't get written in the first place. The writer can't even get Vijay's surname spelling correct.

I would be very surprised if Flab was putting a £1M a month into the club. He was always too involved in many aspects of the team for the very reason that he trusts no one with his money.

Flav's "only" worth £70m odd, correct? Been involved with us for 26 months or so. Highly unlikely.

Some clear numbers would be good, please. Thanks.

[Macmoish]

Well as others have noted in the past, Warburton is close to certain club officials - notably it seems Gianni, who's oft-quoted. And Paladini is supposedly Briatore's man...So if true, this is probably from the Briatore camp to bolster their sale.... If didn't want to sell, period. Could just keep quiet.

But for those who think it doesn't matter, or are starting to get warm and cuddly again towards Briatore: I'd say Remember how QPR operated for the 2 1/2 years when he was Officially QPR Chairman...The crap signings and the managerial chaos. So it matters

The sooner Briatore sells up (from my perspective he could retain one share!) And the club also gets rid of the man who's done so much...The better.... Clean up now so we avoid any problems next season

[cpr]

Safe to say that the only factually correct quote from that article is

"Unbeaten Rangers, six points clear at the top"

And That's A Fact.

[Jon Doeman]

Yes Macmoish I agree he needs to go , but is MacIntyre insinuating that is going to happen or not?

[Macmoish]

I'm not certain: Cue Dave McIntyre....!

But as I read this and last post, the fact that Briatore IS currently still invovled with QPR (more so than we thought) is no surprise to him

[Markqpr]

Oct 15, 2010 18:01:54 GMT Jon Doeman said:

Yes Macmoish I agree he needs to go , but is MacIntyre insinuating that is going to happen or not?

I'm reading McIntyre to be saying the whole thing is a non story.

Not just a supposed sale to Kingfisher but also that Briatore sold a substantial amount of shares to Bhatia or Mittal.

The whole notion of Flabio leaving and Bhatia and Mittal taking over with or without Millya seems to just be pie in the sky, a notion to appease the fanbase nurtured by spin.

I've always wondered why Bhatia and Mittal want or need Millya as a co-owner. As principal sponsor it makes sense but not as majority shareholder unless it was with a view for a complete take-over in the near future.

Unfortunately I'm thinking that it was never going to happen, Flabio and the nazi-appreciating-chelscum gnome will be around for a lot longer and next season in the Premiership the Eurotrash will be back.

Along with ticket price rises.

One thing though, if 1 million a month is needed on top of our income in terms of expenditure in order to survive in the Championship, how much will it be in the Premiership and is this in the form of more loans?

[ingham]

Difficult to see how the Club lost £18 million in a single season when Briatore and Ecclestone were providing it with £1 million a month. If the £1 million a month had been their money, we wouldn't know about it. It would appear only in their own - no doubt confidential - accounts.

Perhaps that is why some of them - Chelsea, City, QPR (all the big Clubs) - are now converting their loans to equity. At Chelsea, the supporters talk of this as if the debt itself is thereby effectively written off.

As if the debt is no longer on the books. And that might have been so. If the owners hadn't converted it to equity.

Equity is how all these Clubs got into debt in the first place. It is the share purchases which put the moneylenders into the Clubs in the first place. And the shareholders who hold out for the highest possible price.

Thompson loaned QPR £2 million. Interest-free. And reclaimed the loan when he sold to Wright. For £10 million. When Wright sold, there was the £10 million.

Converted back from equity into debt.

[londonranger]

QPR – Indian Invasion on track for “Mission EPL”!!
By Menino · October 4, 2010 · 2 Comments
12Share

Quarter of a season gone and the legend of the curious case of QPR finally seems to be making the right noises. 10 games and an impeccable record of 8 wins and 2 draws sees the table toppers a whole 6 points ahead of the chasing pack. With the wily, old fox Neil Warnock at the helm of affairs and a hugely talented squad at his disposal , EPL 2011/2012, should see the resurgence of the much decorated club after 15 years painstaking years .

What makes this club so special in modern times?… When you have the likes of Flavio Briatore(34%), Bernie Ecclestone(15%) and Lakshmi Mittal(20%) as major stakeholders , its hard to divert attention beyond money matters . And although the influx of funds haven’t quite met expectations , one can be rest assured that a promotion to the big league will see the big bucks splashed out . Spending has been shrewd but to good effect thus far with the captures of Adel Taarabt , Kyle Walker, Clint Hill and Shaun Derry worth their weight in gold .

For a bit of history… The inception of the club dates back to 1882 . Quite coincidentally, they play their games at Lo(f)tus Road . They would compete against the likes of Fulham and Chelsea in West London derbies should they be promoted. The zenith of their footballing sojourn would easily be between 1983-1996 when they were permanent Premier League dwellers and brand ambassadors of attractive football . The nadir - clouds of bankruptcy looming large amid speculation that the chairman was forced to resign at gunpoint in a boardroom battle in 2005 . Enter the F1 billionaires.

[londonranger]

But the above numbers dont seem correct. Mittal is reported as buying 20% of Bries which gives the Indian majority shares. will look for that. Now this 34% for Brie may be correct?

[Macmoish]

For starters I think when report says 70%, at minimum conflating Briatore and Ecclestone shares into Briatoreecclestone... But hopefully even combined they don't make 70%....

Either Briatore wants to sell his shares and he's just playing hard to get.
Or he really doesnt want to sell. In which case no reason to assume that the "real" Briatore
won't reemerge if not this season, next season. And that will mean doomed QPR

[londonranger]

E-mail this to a friend Printable version
Flavio Briatore quits as QPR chairman but keeps shares
Flavio Briatore
Briatore and Bernie Ecclestone took over QPR in 2007

Flavio Briatore has stepped down as chairman of Queens Park Rangers Holdings with immediate effect.

Briatore and Formula One supremo Bernie Ecclestone bought the club in September 2007, with Briatore vowing they would be in the Premier League in five years.

But since then they have had an amazing 10 managerial changes and 47 players have been signed by the club.

They currently lie 19th in the Championship table and have lost their last five matches.

As a result of the boardroom reshuffle, the family of the world's fifth richest man, Lakshmi Mittal, has increased its shareholding in the club.

606: DEBATE
Do you believe his regime was worthwhile or not, bearing in mind his ambitions to make QPR a Champions League team?

the_facts

Mittal's son-in-law Amit Bhatia was brought into the club by Briatore and Ecclestone in December 2007, buying a 20% stake and joining the board of directors.

Current managing director Ishan Saksena replaces the 61-year-old Italian, and Gianni Paladini will resume his role as chairman of the club.

Briatore and Ecclestone will retain their shareholding in the Loftus Road outfit.

"My three years as chairman of QPR have been an exciting and incredible experience. I'm proud to have helped save this historical club and to have contributed in paving the way to its future success," said Briatore.


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[londonranger]

This from BBC sports says Mittal has increases his shareholdings. But doesnt seem that he bought

any of Briatores shares. So whose shares did he buy? For Sakseena to be Chairman appointed by Lakshmi Mittal wouldnt they have had to buy enough to make them majority shareholders?

[Macmoish]

www.bringhimhome.org

[londonranger]

Now this actually is an earlier report when Ishan came on board, now in retrospect that seems like a preliminary move before Briatore stepped down and while Paladini was still Sports director, but the was never chairman, so that so much of what is written is really not factual.

[londonranger]

Queens Park Rangers India Lakshmi Mittal (50%)
Italy Flavio Briatore (25%)
England Bernie Ecclestone (25%) 01 !Mittal - £20,800m[31]
Briatore - £110m[32]
Ecclestone - £1,500m[33] Mittal - Steel
Briatore - Motor Racing
Ecclestone - Motor Racing
Reading England Sir John Madejski 08 !£250m Spanning Property, Broadcast Media, Hotels, Restaurants & Publishing

[londonranger]

From current list off football owneship and actually includes the new owners of Liverpool.

Well I am going to assume this right even if it isnt. since it shows Brie reduced by 14 and

Lakshmi increased by 25 which is inline with earlier stuff that said Laksh bought 25% of Bries holdings.

No that doesnt add up either. But I like the previous post figures. Stands to reason that Brie cannot have majority of shares since he would have to approve all the business of club and
whenever Warnie is quoted its how Amit?Sakseena have been so nice in allowing and approving his buys including the Taraabt saga.

[Macmoish]

Ok Updated McIntyre Tweet Responding to another Twitter Q. Make of that what you will!

Q @davidmcintyre76 what do you make of Briatore stalling over the sale?

Dave McIntyre A: @richardsteele30 there's nothing to stall over, the whole thing's a load of nonsense. As was notion that Briatore 'left' in the first place.

Q: davidmcintyre76 are you saying he's doing this to try and lower the price?

Dave McIntyre A @richardsteele30 no, there is no price. Whole thing's a myth - like the notion that these mythical "Mittals" bought him out in the 1st place

twitter.com/davidmcintyre76

[Jon Doeman]

Why doesn't Dave just put out there what he's trying to say and stop being so cryptic!

[Lonegunmen]

You measn answering a question with a question? I know someone else who does that - not on this site of course, Not even a QPR fan.

[Macmoish]

Gianni in his interview with SM back in March of this year

qprreport.blogspot.com/2010/03/gianni-paladini-interviews-two.html


"....So what percentage of QPR is owned by the Mittal’s? Does Flavio have any say?

GP: I can’t discuss the percentages. The Mittal’s have the final say on all matters now. Flavio does still hold a stake in QPR, and we shouldn’t forget that he is the one that came in and saved this club when it was on its knees. It’s important to remember. But yes the Mittal’s are now running the club.

What about our debt situation? Are there major debts owned to other parties?

GP: This is not something we need to be concerned about. The Mittal’s have all this in hand. Any loss we make is easily sustainable by them, and the passion that they have for QPR is enormous. No fan needs to worry about debts. Like I said before, the club is in fantastic hands.


Full SM/Gianni Paladini Interview at
qprreport.blogspot.com/2010/03/gianni-paladini-interviews-two.html

[harlowranger]

Why can know one ever tell us the percentages ? I wasnt under the impression it was part of the official secrets act !
If they came clean at least we would all known who owned what!
This just sounds like a den of iniquity !More lies, lies, exagerations etc
In terms of other football clubs , do they show figures showing exactly what percentage is owned by who , or are we just like every other club in hiding the real truth from the supporters???

[Macmoish]

The only reason I could think of then and now, was that, the percentages would show there hadnt been a major or determining change.