Post by QPR Report on Aug 10, 2009 7:04:51 GMT
Bump/Edit another year...
17 years ago today - Aug 10, 2007, after several days of "ITKs" posting, hinting, exuberance, etc...first news hits the newspapers....
August 10, 2007
Daily Mail - Overtaking? No, taking over as Ecclestone and Briatore plan QPR swoop EXCLUSIVE: By MATT LAWTON -
Formula One boss Bernie Ecclestone is set to buy Queens Park Rangers, Sportsmail can reveal.
Ecclestone, worth £2.25billion and the 20th richest man in Britain, has linked up with Renault F1 chief Flavio Briatore to acquire the west London club from Gianni Paladini.
The three men are understood to have shaken hands on the deal within the last fortnight. Paladini has been looking to sell for around £30million but has told friends he would accept substantially less if the deal was right.
Under the deal, Paladini would stay on as chairman, running the Championship club on a day-to-day basis, but Ecclestone and Briatore - a football-mad Italian - have the financial clout to transform a side with one of the wealthiest catchment areas in the country. Ecclestone, who has transformed the fortunes of Formula One with his tough management style, has no track record in football but was recently linked to a possible takeover of Arsenal.
Last night, Paladini denied that a deal had been completed, saying: "I wish it was true."
The move is unusual in that it involves a partnership between a British and a foreign investor and comes on a day when two of English football's most influential figures warned of the dangers of too much foreign money coming into the domestic game.
With Chelsea, Manchester United, Liverpool, Aston Villa, Manchester City, Fulham, Portsmouth, Sunderland and West Ham all now having non-English owners, Bolton chairman Phil Gartside voiced fears that too much foreign investment will damage the Premier League.
He said: "The trouble is that the more foreign owners you get, the greater the danger of the balance of power changing.
"Football, as it has been regulated for years, could be in danger. If the foreignowned clubs gain a majority and decide to get together, they could start to dictate how the league is run....." Daily Mail
The Times - Flamboyant Briatore on track to take over at QPR
Gary Jacob and Kevin Eason
Flavio Briatore is in advanced talks about taking control of Queens Park Rangers. The Renault team principal is believed to be considering a deal worth about £25 million for the club, including taking on the debt of about £21 million. The flamboyant businessman is not known for a love of football, although his shrewd brain has given him a unique place in Formula One. He helped to mastermind the transfer of a little-known Michael Schumacher and spotted Fernando Alonso, the world champion.
Briatore is the latest individual – including a consortium involving Ronny Rosenthal, the former Liverpool forward – that has been entertained by the Coca-Cola Championship club this summer in an attempt to ensure that do not fall into administration.
Briatore has promised John Gregory, the QPR manager, about £10 million to spend on players in Janaury and he is willing to repay the £10 million that is owed to the ABC Corporation, a loan that helped the club to exit administration five years ago, but has become a noose because of the hefty repayments. More than £7 million is still owed to club directors and the HM Revenue and Customs.
Born in Italy, Briatore ran Benetton’s operations in the United States, turning five stores into 800 branches. When Benetton sent him to Formula One to transform a moribund team he recruited the best – including Ross Brawn, who later became the technical director of Ferrari – and snatched a young driver from Jordan. Schumacher won two world titles at Benetton and a further five with Ferrari.
When Renault bought the Benetton team, Briatore who had briefly left Formula One returned, and spotted another brilliant talent, Alonso, who has won two world titles. Away from the track, Briatore, 57, lives a life reflected in the choice of title for his range of fashion and nightclub businesses, called simply Billionaire. He has yachts, a house in Sardinia and an apartment in London. The Times
BBC - Briatore linked with QPR takeover
Renault Formula One team boss Flavio Briatore is reportedly interested in taking over Queens Park Rangers.
Reports from Italy have linked Briatore and F1 supremo Bernie Ecclestone with a joint bid for the club, who narrowly avoided relegation last season.
"We are in the early stages," the 57-year-old was quoted as saying in the Italian press.
"We have had some discussions, but nothing has been signed," added the Renault F1 team boss.
Rangers only just avoided relegation from the Championship last season, and are restricted by the £10m loan they took from the Panama-based ABC Corporation to help them out of administration five years ago.
More than £7m is still owed to club directors and HM Revenue and Customs.
One report suggested that current chairman Gianni Paladini would be allowed to continue to run the club were Ecclestone and Briatore to assume control.
Paladini - who became chairman in the autumn of 2005 after a boardroom coup to oust former incumbent Bill Power - has been willing to sell the club for some time, but has yet to reach an agreement to do so.
When asked whether the deal had been completed, Paladini told the Daily Mail: "I wish it was true."
The QPR Supporters Trust, meanwhile, believe it would be "good news" were Ecclestone and Briatore to step in.
Co-ordinator Tracy Stent said: "The club needs to find someone to re-finance the structure of the ABC loan. It is imperative that something is done about this."
But former England and QPR striker Les Ferdinand, who would like to see Paladini and his board of directors removed, wants any prospective new owners to prove they have the club's future at heart.
"You don't want someone buying the club just because it is in the west London area, and they see it as an investment.
"That is my main concern. These people might have a lot of money, but how would they invest it?"
In July, Ecclestone and Flavio Briatore were linked with a possible takeover of Arsenal.
Eccelstone, who has amassed a reported £3bn fortune over the years knows former Arsenal vice-chairman David Dein, who left the club in acrimonious circumstances in April.
The 76-year-old said then: "If somebody offers me something I think is good value, I will have a go. I'm interested in anything if it's cheap enough." BBC
DAILY MAIL - Ecclestone U-turn: I want Arsenal, Flavio wants QPR!
Bernie Ecclestone has confirmed Flavio Briatore's interest in buying Queens Park Rangers - but told Sportsmail yesterday that his sights are on Arsenal.
The Formula One boss is keen to invest a sizeable chunk of his £2.25billion fortune in football and so, he says, is Renault F1 chief Briatore, who is believed to have agreed a deal with Loftus Road chairman Gianni Paladini.
Paladini has been looking to sell for around £30m but has told friends he would accept substantially less if the deal was right.
Ecclestone said: "I think it is Flavio. I'm not in discussions with anyone. The only way I might get involved in football is if Arsenal is up for sale at a sensible price and I could take total control." Daily Mail
qprreport.blogspot.com/2007/08/qpr-takeover-update-interest-supposedly.html
QPR1st's Reported Reaction to Reported Takeover
- Sporting Life - QPR FANS WELCOME ECCLESTONE TALK
The QPR Supporters Trust believe it would be "good news" if Formula One supremo Bernie Ecclestone launched a takeover of the Coca-Cola Championship club.
A report on Friday linked Ecclestone and Flavio Briatore, who is in charge of the Renault F1 team, with a bid.
And Trust Co-ordinator Tracy Stent insists high-profile investment is needed to secure the club's future
Rangers took out a £10million loan from the Panama-based ABC Corporation to help them out of administration five years ago, an arrangement which has proved restrictive ever since.
She said: "If someone came in with a large amount of money, they would be saving the club.
"The club needs to find someone to re-finance the structure of the ABC loan. It is imperative that something is done about this.
"If these names are being mentioned, it can only be good news." Sporting Life
Telegraph - Flavio Briatore in talks to buy QPR - By David Bond
Flavio Briatore, the flamboyant boss of Formula One team Renault, said last night that he was in the early stages of talks to buy Queens Park Rangers.
The Italian businessman, who has close links to Bernie Ecclestone, is believed to be considering a £30 million deal to save the Championship club and help fund a push for promotion to the Premier League.
He said: "We are in the early stages. We have had some discussions, but nothing has been signed."
It is understood talks are set to continue over the weekend. Briatore did not reveal, however, whether Ecclestone, the billionaire ringmaster of F1, was involved in the deal.
QPR's chairman Gianni Paladini has been searching for months for new investors to prevent the club from going into administration.
They are losing around £2 million a year and are £21 million in debt with a £10 million loan to the ABC Corporation due to be repaid next year. A further £7 million is owed to directors and the taxman.
Any deal with Briatore would involve taking on those debts and investing around £10 million for manager John Gregory to spend on new players.
That price would nevertheless be expensive for a club outside the Premiership with no possibility of modernising their Loftus Road ground.
It is understood that one of the plans being discussed is a proposal to sell Loftus Road to property developers and move the club to a new site currently owned by the BBC at White City.
Paladini recently added Kevin Steele, a property lawyer from Mishcon de Reya, to the QPR board to advise on redevelopment options, with Hammersmith and Fulham Council believed to be in favour of the plans. Telegraph
The Times - August 11, 2007 - Ecclestone on verge of launching Arsenal bid - Kevin Eason
Bernie Ecclestone is counting down the days until he can secure control of Arsenal in one of English football’s most astonishing takeover deals. In an exclusive interview with The Times, the Formula One impresario revealed that he would be “interested in buying the club today”, if it were on the market. ...
Ecclestone had been linked with a takeover of Queens Park Rangers in concert with Flavio Briatore, the principal at the Renault Formula One team and one of his closest allies. But he emphatically ruled himself out of the deal yesterday, saying that Briatore was acting alone. Instead, Ecclestone’s eyes are fixed on Arsenal and transforming the club into a mirror image of his huge Formula One empire.
Briatore’s appearance at QPR is more mysterious. The flamboyant Italian confirmed yesterday that he was in talks with the club and QPR are desperate for a buyer with cash. The Coca-Cola Championship club are staggering under the weight of a £10 million high-interest loan and have spent months trying to satisfy creditors. At one point this year they even faced a winding-up order from the St John Ambulance service over an unpaid bill of £18,000.
It is thought that Briatore would probably get the club at a price below the £30 million regularly quoted, because of the debt burden. But he would still be faced with financing a reconstruction plan capable of getting QPR back into the top flight for the first time in 11 years.
Briatore, who is thought to be worth about £70 million, is said to have pledged £10 million for transfers, but more would be needed and he is not in the wealth class of someone such as Ecclestone. However, he is one of the best connected men in Europe and could find backers easily to help to broker a quick takeover. The Times
DAILY MIRROR - FLAVIO IN POLE FOR QPR
Formula One tycoon Flavio Briatore last night played down claims he was on the verge of taking over troubled Queens Park Rangers.
The Italian billionaire was said to be ready to buy out Rangers chief Gianni Paladini in a £25million deal, which could also have seen his close pal Bernie Ecclestone being involved.
Paladini and partner Antonio Caliendo own 47 per cent of the cash-strapped Loftus Road club and are desperate to find a buyer ready to invest in the Championship side. But while Briatore confirmed he had received an approach through intermediaries, he explained: "It is something that has been brought to our attention and there have been some superficial preliminary talks.
"There is nothing concrete so far at all, nothing signed or discussed beyond a very preliminary stage." Mirror
Channel 4 - Ex-Juve chief Giraudo to run QPR?
Former ‘Triade’ Juventus director Antonio Giraudo could join Flavio Briatore in his bid to buy out Queen's Park Rangers.
It has been widely reported that the managing director of Renault’s Formula 1 team and millionaire businessman Briatore is interested in taking over the Championship club.
There are now additional rumours in Italy that the man to help him run the West London side is ex-Juventus chief Giraudo.
A member of the notorious ‘Triade’ of directors along with Luciano Moggi and Roberto Bettega, the general manager left the Bianconeri in the wake of the Calciopoli scandal.
Of the three Bettega was the only one to still work for Juve until recently, when his contract as a consultant was not renewed.
It was claimed that this decision was made by Marco Tardelli, who wanted a clean break with the pre-Calciopoli administration.
Giraudo has kept his silence over the scandal that saw Juventus demoted to Serie B amid allegations of pressurising referees and authority figures.
He went to London to work in real estate and it is rumoured he could be tempted back into the football world by Briatore’s ambitious plans for QPR.
Current President Gianni Paladini is playing down the reports of an offer, but the club has debts of £21m, more than £7m of which is owed to club directors and HM Revenue & Customs. Channel 4
Also story in the Italian paper (in Italian), La Gazetta Dello Sport
qprreport.blogspot.com/2007/08/former-juventus-director-antonio.html
And a few days later...
Even as Caliendo was saying a couple days later...
Club not for Sale
qprreport.proboards.com/thread/5940/yr-flashback-caliendo-club-sale
QPR Official Site - CLUB STATEMENT
Tue 14 Aug 2007
Antonio Caliendo, Chairman of QPR Holdings Ltd, has made the following announcement:
"There have been many rumours spread in the newspapers recently about QPR.
"The Club is not for sale."
Antonio Caliendo
Chairman, QPR Holdings Ltd
[/li][li] "*The Club will be making no further comment at this stage."
Sporting Life - QPR DENY TAKEOVER RUMOURS
QPR have scotched reports of an imminent takeover at the west London club by declaring they are "not for sale".
The cash-strapped Hoops have been linked with a takeover by the boss of the Renault Formula One team Flavio Briatore and F1 supremo Bernie Ecclestone.
Chairman Gianni Paladini is thought to be willing to sell the Championship club, but has yet to find suitable investors.
But a statement from Antonio Caliendo, the chairman of QPR Holdings Ltd, on the club's official website, www.qpr.co.uk, has contradicted recent reports.
It read: "There have been many rumours spread in the newspapers recently about QPR. The club is not for sale.
"The club will be making no further comment at this stage. Sporting Life
DAILY MAIL - QPR insist they are 'not for sale'
QPR tonight scotched reports of an imminent takeover at the west London club by declaring they are "not for sale".
The cash-strapped Hoops have been linked with a takeover by the boss of the Renault Formula One team Flavio Briatore and F1 supremo Bernie Ecclestone.
Chairman Gianni Paladini is thought to be willing to sell the Championship club, but has yet to find suitable investors.
But a statement from Antonio Caliendo, the chairman of QPR Holdings Ltd, on the club's official website, www.qpr.co.uk, has contradicted recent reports.
It read: "There have been many rumours spread in the newspapers recently about QPR. The club is not for sale.
"The club will be making no further comment at this stage." Mail
Meanwhile in the Daily Mail
QPR Reportedly in Talks with THREE Different Consortiums-
Daily Mail - Two new parties join the talks to buy Rangers
Queens Park Rangers are in talks with three different consortiums about a possible takeover.
Sportsmail can reveal that two new parties are at the negotiating table with Rangers chiefs in addition to the consortium led by Renault F1 boss Flavio Briatore.
One is believed to be British-based and the other is made up of foreign interests but it is understood that the Briatore bid is still considered the most 'attractive' by the Rangers board.
Although it has been speculated that a deal with the flamboyant Italian businessman could be completed within days, negotiations are finely poised and no deal has been done.
Antonio Caliendo, the chairman of QPR Holdings Ltd, flew into London last night as talks with the various parties stepped up.
Privately, the QPR board have set a deadline for the end of the month for any takeover to be completed.
There is a diminishing enthusiasm among the Monaco-based consortium who own 62 per cent of the club and include Caliendo, chairman Gianni Paladini and Brazil manager Dunga to pour any more money in as the threat of administration continues to hover over Loftus Road.
The club are £21million in debt and struggling to meet their day-to-day running costs. Even the multi-million pound sales of Danny shitetu to Watford, Dean Parrett to Tottenham and Lee Cook to Fulham in the last 12 months have been unable to stem the cashflow problems.
Furthermore, directors are owed unsecured loans worth between £5m-£7m and this sum would have to be written off were Rangers to go into administration for the second time in six years. By comparison, the £10m loan to the Panama-based ABC Corporation is secured against the ground, which is Ranger's most valuable asset and worth over £20m.
It has been reported that any takeover of Rangers would cost around £30m, including around £10m to be handed to manager John Gregory to spend on new players.
Thoughts about a takeover will momentarily be put to one side tonight as Leyton Orient visit for their Carling Cup encounter.
Rangers will be without their two leading strikers, Ben Sahar, who will be missing for at least another fortnight after having his appendix out, and Dexter Blackstock, who has a thigh injury.
Michael Simpson and Clayton Fortune are ruled out for Orient. Daily Mail
qprreport.proboards.com/thread/5940/yr-flashback-caliendo-club-sale#ixzz2bY9suwNM
17 years ago today - Aug 10, 2007, after several days of "ITKs" posting, hinting, exuberance, etc...first news hits the newspapers....
August 10, 2007
Daily Mail - Overtaking? No, taking over as Ecclestone and Briatore plan QPR swoop EXCLUSIVE: By MATT LAWTON -
Formula One boss Bernie Ecclestone is set to buy Queens Park Rangers, Sportsmail can reveal.
Ecclestone, worth £2.25billion and the 20th richest man in Britain, has linked up with Renault F1 chief Flavio Briatore to acquire the west London club from Gianni Paladini.
The three men are understood to have shaken hands on the deal within the last fortnight. Paladini has been looking to sell for around £30million but has told friends he would accept substantially less if the deal was right.
Under the deal, Paladini would stay on as chairman, running the Championship club on a day-to-day basis, but Ecclestone and Briatore - a football-mad Italian - have the financial clout to transform a side with one of the wealthiest catchment areas in the country. Ecclestone, who has transformed the fortunes of Formula One with his tough management style, has no track record in football but was recently linked to a possible takeover of Arsenal.
Last night, Paladini denied that a deal had been completed, saying: "I wish it was true."
The move is unusual in that it involves a partnership between a British and a foreign investor and comes on a day when two of English football's most influential figures warned of the dangers of too much foreign money coming into the domestic game.
With Chelsea, Manchester United, Liverpool, Aston Villa, Manchester City, Fulham, Portsmouth, Sunderland and West Ham all now having non-English owners, Bolton chairman Phil Gartside voiced fears that too much foreign investment will damage the Premier League.
He said: "The trouble is that the more foreign owners you get, the greater the danger of the balance of power changing.
"Football, as it has been regulated for years, could be in danger. If the foreignowned clubs gain a majority and decide to get together, they could start to dictate how the league is run....." Daily Mail
The Times - Flamboyant Briatore on track to take over at QPR
Gary Jacob and Kevin Eason
Flavio Briatore is in advanced talks about taking control of Queens Park Rangers. The Renault team principal is believed to be considering a deal worth about £25 million for the club, including taking on the debt of about £21 million. The flamboyant businessman is not known for a love of football, although his shrewd brain has given him a unique place in Formula One. He helped to mastermind the transfer of a little-known Michael Schumacher and spotted Fernando Alonso, the world champion.
Briatore is the latest individual – including a consortium involving Ronny Rosenthal, the former Liverpool forward – that has been entertained by the Coca-Cola Championship club this summer in an attempt to ensure that do not fall into administration.
Briatore has promised John Gregory, the QPR manager, about £10 million to spend on players in Janaury and he is willing to repay the £10 million that is owed to the ABC Corporation, a loan that helped the club to exit administration five years ago, but has become a noose because of the hefty repayments. More than £7 million is still owed to club directors and the HM Revenue and Customs.
Born in Italy, Briatore ran Benetton’s operations in the United States, turning five stores into 800 branches. When Benetton sent him to Formula One to transform a moribund team he recruited the best – including Ross Brawn, who later became the technical director of Ferrari – and snatched a young driver from Jordan. Schumacher won two world titles at Benetton and a further five with Ferrari.
When Renault bought the Benetton team, Briatore who had briefly left Formula One returned, and spotted another brilliant talent, Alonso, who has won two world titles. Away from the track, Briatore, 57, lives a life reflected in the choice of title for his range of fashion and nightclub businesses, called simply Billionaire. He has yachts, a house in Sardinia and an apartment in London. The Times
BBC - Briatore linked with QPR takeover
Renault Formula One team boss Flavio Briatore is reportedly interested in taking over Queens Park Rangers.
Reports from Italy have linked Briatore and F1 supremo Bernie Ecclestone with a joint bid for the club, who narrowly avoided relegation last season.
"We are in the early stages," the 57-year-old was quoted as saying in the Italian press.
"We have had some discussions, but nothing has been signed," added the Renault F1 team boss.
Rangers only just avoided relegation from the Championship last season, and are restricted by the £10m loan they took from the Panama-based ABC Corporation to help them out of administration five years ago.
More than £7m is still owed to club directors and HM Revenue and Customs.
One report suggested that current chairman Gianni Paladini would be allowed to continue to run the club were Ecclestone and Briatore to assume control.
Paladini - who became chairman in the autumn of 2005 after a boardroom coup to oust former incumbent Bill Power - has been willing to sell the club for some time, but has yet to reach an agreement to do so.
When asked whether the deal had been completed, Paladini told the Daily Mail: "I wish it was true."
The QPR Supporters Trust, meanwhile, believe it would be "good news" were Ecclestone and Briatore to step in.
Co-ordinator Tracy Stent said: "The club needs to find someone to re-finance the structure of the ABC loan. It is imperative that something is done about this."
But former England and QPR striker Les Ferdinand, who would like to see Paladini and his board of directors removed, wants any prospective new owners to prove they have the club's future at heart.
"You don't want someone buying the club just because it is in the west London area, and they see it as an investment.
"That is my main concern. These people might have a lot of money, but how would they invest it?"
In July, Ecclestone and Flavio Briatore were linked with a possible takeover of Arsenal.
Eccelstone, who has amassed a reported £3bn fortune over the years knows former Arsenal vice-chairman David Dein, who left the club in acrimonious circumstances in April.
The 76-year-old said then: "If somebody offers me something I think is good value, I will have a go. I'm interested in anything if it's cheap enough." BBC
DAILY MAIL - Ecclestone U-turn: I want Arsenal, Flavio wants QPR!
Bernie Ecclestone has confirmed Flavio Briatore's interest in buying Queens Park Rangers - but told Sportsmail yesterday that his sights are on Arsenal.
The Formula One boss is keen to invest a sizeable chunk of his £2.25billion fortune in football and so, he says, is Renault F1 chief Briatore, who is believed to have agreed a deal with Loftus Road chairman Gianni Paladini.
Paladini has been looking to sell for around £30m but has told friends he would accept substantially less if the deal was right.
Ecclestone said: "I think it is Flavio. I'm not in discussions with anyone. The only way I might get involved in football is if Arsenal is up for sale at a sensible price and I could take total control." Daily Mail
qprreport.blogspot.com/2007/08/qpr-takeover-update-interest-supposedly.html
QPR1st's Reported Reaction to Reported Takeover
- Sporting Life - QPR FANS WELCOME ECCLESTONE TALK
The QPR Supporters Trust believe it would be "good news" if Formula One supremo Bernie Ecclestone launched a takeover of the Coca-Cola Championship club.
A report on Friday linked Ecclestone and Flavio Briatore, who is in charge of the Renault F1 team, with a bid.
And Trust Co-ordinator Tracy Stent insists high-profile investment is needed to secure the club's future
Rangers took out a £10million loan from the Panama-based ABC Corporation to help them out of administration five years ago, an arrangement which has proved restrictive ever since.
She said: "If someone came in with a large amount of money, they would be saving the club.
"The club needs to find someone to re-finance the structure of the ABC loan. It is imperative that something is done about this.
"If these names are being mentioned, it can only be good news." Sporting Life
Telegraph - Flavio Briatore in talks to buy QPR - By David Bond
Flavio Briatore, the flamboyant boss of Formula One team Renault, said last night that he was in the early stages of talks to buy Queens Park Rangers.
The Italian businessman, who has close links to Bernie Ecclestone, is believed to be considering a £30 million deal to save the Championship club and help fund a push for promotion to the Premier League.
He said: "We are in the early stages. We have had some discussions, but nothing has been signed."
It is understood talks are set to continue over the weekend. Briatore did not reveal, however, whether Ecclestone, the billionaire ringmaster of F1, was involved in the deal.
QPR's chairman Gianni Paladini has been searching for months for new investors to prevent the club from going into administration.
They are losing around £2 million a year and are £21 million in debt with a £10 million loan to the ABC Corporation due to be repaid next year. A further £7 million is owed to directors and the taxman.
Any deal with Briatore would involve taking on those debts and investing around £10 million for manager John Gregory to spend on new players.
That price would nevertheless be expensive for a club outside the Premiership with no possibility of modernising their Loftus Road ground.
It is understood that one of the plans being discussed is a proposal to sell Loftus Road to property developers and move the club to a new site currently owned by the BBC at White City.
Paladini recently added Kevin Steele, a property lawyer from Mishcon de Reya, to the QPR board to advise on redevelopment options, with Hammersmith and Fulham Council believed to be in favour of the plans. Telegraph
The Times - August 11, 2007 - Ecclestone on verge of launching Arsenal bid - Kevin Eason
Bernie Ecclestone is counting down the days until he can secure control of Arsenal in one of English football’s most astonishing takeover deals. In an exclusive interview with The Times, the Formula One impresario revealed that he would be “interested in buying the club today”, if it were on the market. ...
Ecclestone had been linked with a takeover of Queens Park Rangers in concert with Flavio Briatore, the principal at the Renault Formula One team and one of his closest allies. But he emphatically ruled himself out of the deal yesterday, saying that Briatore was acting alone. Instead, Ecclestone’s eyes are fixed on Arsenal and transforming the club into a mirror image of his huge Formula One empire.
Briatore’s appearance at QPR is more mysterious. The flamboyant Italian confirmed yesterday that he was in talks with the club and QPR are desperate for a buyer with cash. The Coca-Cola Championship club are staggering under the weight of a £10 million high-interest loan and have spent months trying to satisfy creditors. At one point this year they even faced a winding-up order from the St John Ambulance service over an unpaid bill of £18,000.
It is thought that Briatore would probably get the club at a price below the £30 million regularly quoted, because of the debt burden. But he would still be faced with financing a reconstruction plan capable of getting QPR back into the top flight for the first time in 11 years.
Briatore, who is thought to be worth about £70 million, is said to have pledged £10 million for transfers, but more would be needed and he is not in the wealth class of someone such as Ecclestone. However, he is one of the best connected men in Europe and could find backers easily to help to broker a quick takeover. The Times
DAILY MIRROR - FLAVIO IN POLE FOR QPR
Formula One tycoon Flavio Briatore last night played down claims he was on the verge of taking over troubled Queens Park Rangers.
The Italian billionaire was said to be ready to buy out Rangers chief Gianni Paladini in a £25million deal, which could also have seen his close pal Bernie Ecclestone being involved.
Paladini and partner Antonio Caliendo own 47 per cent of the cash-strapped Loftus Road club and are desperate to find a buyer ready to invest in the Championship side. But while Briatore confirmed he had received an approach through intermediaries, he explained: "It is something that has been brought to our attention and there have been some superficial preliminary talks.
"There is nothing concrete so far at all, nothing signed or discussed beyond a very preliminary stage." Mirror
Channel 4 - Ex-Juve chief Giraudo to run QPR?
Former ‘Triade’ Juventus director Antonio Giraudo could join Flavio Briatore in his bid to buy out Queen's Park Rangers.
It has been widely reported that the managing director of Renault’s Formula 1 team and millionaire businessman Briatore is interested in taking over the Championship club.
There are now additional rumours in Italy that the man to help him run the West London side is ex-Juventus chief Giraudo.
A member of the notorious ‘Triade’ of directors along with Luciano Moggi and Roberto Bettega, the general manager left the Bianconeri in the wake of the Calciopoli scandal.
Of the three Bettega was the only one to still work for Juve until recently, when his contract as a consultant was not renewed.
It was claimed that this decision was made by Marco Tardelli, who wanted a clean break with the pre-Calciopoli administration.
Giraudo has kept his silence over the scandal that saw Juventus demoted to Serie B amid allegations of pressurising referees and authority figures.
He went to London to work in real estate and it is rumoured he could be tempted back into the football world by Briatore’s ambitious plans for QPR.
Current President Gianni Paladini is playing down the reports of an offer, but the club has debts of £21m, more than £7m of which is owed to club directors and HM Revenue & Customs. Channel 4
Also story in the Italian paper (in Italian), La Gazetta Dello Sport
qprreport.blogspot.com/2007/08/former-juventus-director-antonio.html
And a few days later...
Even as Caliendo was saying a couple days later...
Club not for Sale
qprreport.proboards.com/thread/5940/yr-flashback-caliendo-club-sale
QPR Official Site - CLUB STATEMENT
Tue 14 Aug 2007
Antonio Caliendo, Chairman of QPR Holdings Ltd, has made the following announcement:
"There have been many rumours spread in the newspapers recently about QPR.
"The Club is not for sale."
Antonio Caliendo
Chairman, QPR Holdings Ltd
[/li][li] "*The Club will be making no further comment at this stage."
Sporting Life - QPR DENY TAKEOVER RUMOURS
QPR have scotched reports of an imminent takeover at the west London club by declaring they are "not for sale".
The cash-strapped Hoops have been linked with a takeover by the boss of the Renault Formula One team Flavio Briatore and F1 supremo Bernie Ecclestone.
Chairman Gianni Paladini is thought to be willing to sell the Championship club, but has yet to find suitable investors.
But a statement from Antonio Caliendo, the chairman of QPR Holdings Ltd, on the club's official website, www.qpr.co.uk, has contradicted recent reports.
It read: "There have been many rumours spread in the newspapers recently about QPR. The club is not for sale.
"The club will be making no further comment at this stage. Sporting Life
DAILY MAIL - QPR insist they are 'not for sale'
QPR tonight scotched reports of an imminent takeover at the west London club by declaring they are "not for sale".
The cash-strapped Hoops have been linked with a takeover by the boss of the Renault Formula One team Flavio Briatore and F1 supremo Bernie Ecclestone.
Chairman Gianni Paladini is thought to be willing to sell the Championship club, but has yet to find suitable investors.
But a statement from Antonio Caliendo, the chairman of QPR Holdings Ltd, on the club's official website, www.qpr.co.uk, has contradicted recent reports.
It read: "There have been many rumours spread in the newspapers recently about QPR. The club is not for sale.
"The club will be making no further comment at this stage." Mail
Meanwhile in the Daily Mail
QPR Reportedly in Talks with THREE Different Consortiums-
Daily Mail - Two new parties join the talks to buy Rangers
Queens Park Rangers are in talks with three different consortiums about a possible takeover.
Sportsmail can reveal that two new parties are at the negotiating table with Rangers chiefs in addition to the consortium led by Renault F1 boss Flavio Briatore.
One is believed to be British-based and the other is made up of foreign interests but it is understood that the Briatore bid is still considered the most 'attractive' by the Rangers board.
Although it has been speculated that a deal with the flamboyant Italian businessman could be completed within days, negotiations are finely poised and no deal has been done.
Antonio Caliendo, the chairman of QPR Holdings Ltd, flew into London last night as talks with the various parties stepped up.
Privately, the QPR board have set a deadline for the end of the month for any takeover to be completed.
There is a diminishing enthusiasm among the Monaco-based consortium who own 62 per cent of the club and include Caliendo, chairman Gianni Paladini and Brazil manager Dunga to pour any more money in as the threat of administration continues to hover over Loftus Road.
The club are £21million in debt and struggling to meet their day-to-day running costs. Even the multi-million pound sales of Danny shitetu to Watford, Dean Parrett to Tottenham and Lee Cook to Fulham in the last 12 months have been unable to stem the cashflow problems.
Furthermore, directors are owed unsecured loans worth between £5m-£7m and this sum would have to be written off were Rangers to go into administration for the second time in six years. By comparison, the £10m loan to the Panama-based ABC Corporation is secured against the ground, which is Ranger's most valuable asset and worth over £20m.
It has been reported that any takeover of Rangers would cost around £30m, including around £10m to be handed to manager John Gregory to spend on new players.
Thoughts about a takeover will momentarily be put to one side tonight as Leyton Orient visit for their Carling Cup encounter.
Rangers will be without their two leading strikers, Ben Sahar, who will be missing for at least another fortnight after having his appendix out, and Dexter Blackstock, who has a thigh injury.
Michael Simpson and Clayton Fortune are ruled out for Orient. Daily Mail
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