The QPR "New Ownership" Developments Thread

[Atouk]

There is much brewing on the possibility of new ownership/investment at QPR.

These from yesterday:

The Times: (http://www.timesonline.co.uk/tol/sport/football/football_league/article2231744.ece)
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.
...
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.


The Daily Mail: (http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=474385&in_page_id=1779&ct=5)
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."

A new article from the Daily Mail (http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=474606&in_page_id=1779&ito=newsnow) rules out Bernie Ecclestone, but does quote Ecclestone as saying he thinks Flavio Briatore is in talks with QPR. Of course, the headline is ridiculous ("Ecclestone U-turn: I want Arsenal, Flavio wants QPR!") since Ecclestone said "I'm not in discussions with anyone," so there has been no "U-turn" except that the Mail got the story wrong yesterday.

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."

[Atouk]

A BBC article (http://news.bbc.co.uk/sport2/hi/football/teams/q/qpr/6941056.stm) includes quotes from Briatore from the Italian press:

"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.

[QPR Kevin H]

An interesting take on things (http://www.sportinglife.com/football/nationwide1/news/story_get.cgi?STORY_NAME=soccer/07/08/10/SOCCER_QPR_Nightlead.html) from Rangers legend Les Ferdinand...

Former QPR striker Les Ferdinand has challenged any potential new owners to prove their commitment to the club if they take control at Loftus Road...

Ferdinand, who would like to see current chairman Gianni Paladini and his directors removed, wants any prospective new owners to prove they have the club's future at heart.

"Anyone who takes over has to show they want to take the club forward," Ferdinand said...

But Ferdinand, 40, is keen to see more significant changes at boardroom level - although he is happy for manager John Gregory to remain in charge.

"I would like to see a restructuring at all levels, apart from the management team," continued Ferdinand, who was capped 17 times by England. "The manager (Gregory) has a decent track record.

"I want to see QPR taken forward, and that might mean a restructuring of the board.

"A lot of unsavoury things have happened at QPR, and there needs to be a lot of work done behind the scenes to get the club back to where it was."Those are some direct statements for a guy that doesn't really have an iron in the fire... or does he?

Thanks for starting the new thread!

[DylanPresman]

The BBC are now reporting the same story (using a lot of the same material):


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.

http://news.bbc.co.uk/sport2/hi/football/teams/q/qpr/6941056.stm

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."

http://news.bbc.co.uk/sport2/hi/football/teams/q/qpr/6941056.stm

[Atouk]

From Channel 4's Football Italia site (http://www.channel4.com/sport/football_italia/aug12n.html):

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.

[Atouk]

Although the Daily Mail proved not a terribly reliable source with their "Ecclestone is in" "No, Ecclestone isn't in" stories last week, they're back with more. (http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=475320&in_page_id=1779)

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.

...

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's more there, but that seems to be the thrust of it -- Caliendo came to town as talks heat up and there are supposedly multiple interested parties.

[QPR Kevin H]

Although the Daily Mail proved not a terribly reliable source with their "Ecclestone is in" "No, Ecclestone isn't in" stories last week, they're back with more. (http://www.dailymail.co.uk/pages/live/articles/sport/football.html?in_article_id=475320&in_page_id=1779)



There's more there, but that seems to be the thrust of it -- Caliendo came to town as talks heat up and there are supposedly multiple interested parties.

Has there ever been a foreign takeover attempt at a club where the press hasn't drummed up a "British based consortium"

The only thing that I believe to have any merit in this whole affair is that Briatore does have some sort of interest in investing in the club.

Meanwhile, the financial situation just gets more and more dire by the second. I'll believe Gianni when the check is in the bank, not when it's in the mail.

[art]

Has there ever been a foreign takeover attempt at a club where the press hasn't drummed up a "British based consortium"

The only thing that I believe to have any merit in this whole affair is that Briatore does have some sort of interest in investing in the club.

Meanwhile, the financial situation just gets more and more dire by the second. I'll believe Gianni when the check is in the bank, not when it's in the mail.

But jesus wouldn't it be cool if this were true. Clear the debts, put some in the bank for new players, start looking at long term solutions to Loftus Road. Every QPR supporter's dream come true.

[QPR Kevin H]

But jesus wouldn't it be cool if this were true. Clear the debts, put some in the bank for new players, start looking at long term solutions to Loftus Road. Every QPR supporter's dream come true.
Absolutely, I'm just trying to temper my optimism with the fact that nothing has changed...yet. Despite Gianni's promises that this will be out in the open soon, it's still about as clear as mud right now. With hearsay and rumour from The Mail (of all places) all we have to go on.

[Atouk]

Holy crap. Caliendo has just upped the ante.

http://www.qpr.premiumtv.co.uk/page/NewsDetail/0,,10373~1091850,00.html

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

Is this Caliendo's way of saying he wants more than offered for the shares he controls?

And what does this mean for Paladini, who was rumored to be staying on to run the club after a takeover?

[QPR Kevin H]

God I really wish we could see the backsides of Gianni and Caliendo. This is just getting frustrating...

What does "the club is not for sale" mean? Full-control is not for sale, but investment is welcome? Or, do not table any bids whatsover? This is so confusing - and as usual - mismanaged by the current board.

I'm starting to think that this whole new investment leak by Gianni was just a smokescreen to placate the supporters at a time when the financial siatuation is really getting dire. Sort it out!

[Atouk]

"Antonio Caliendo, the chairman of QPR Holdings Ltd, flew into London last night as talks with the various parties stepped up."

...and now we get a statement from Caliendo, not Paladini.

Good Cop/Bad Cop? Or might Paladini's position be in jeopardy? :confused:

[QPR Kevin H]

"Antonio Caliendo, the chairman of QPR Holdings Ltd, flew into London last night as talks with the various parties stepped up."

...and now we get a statement from Caliendo, not Paladini.

Good Cop/Bad Cop? Or might Paladini's position be in jeopardy? :confused:
Well, as my friend Pete (who religiously follows the club's financial situation) just wrote to me about Caliendo... "He runs the club, so his word could be final"

Good cop/bad cop seems the optimistic situation. Pessimistic being that Caliendo disagrees with Paladini and does not want to transfer control on the terms that have been discussed. :confused:

[Atouk]

The above statement has been amended to add one sentence since I first block quoted it:

"*The Club will be making no further comment at this stage."

[QPR Kevin H]

The above statement has been amended to add one sentence since I first block quoted it:

"*The Club will be making no further comment at this stage."
A monkey wearing boxing gloves could write better copy than the leaders of our club. What a mess.

[Atouk]

Several posts by Bill Power on this thread are worth a read:
http://www.indyrs.co.uk/messageboard/viewtopic.php?p=13896&highlight=#13896
It seems he had put together a group that was willing to buy AC's shares for what he paid for them, but then the Briatore bid came along and was apparently backed by more money, so they didn't move forward.

Slightly more positive stuff from BP subsequently here:
http://www.indyrs.co.uk/messageboard/viewtopic.php?t=2056
I am sure, no matter what, there are enough good people out there to make things happen.

Certain.

QPR1st's response to the club's statement here:
http://www.qpr1st.co.uk/main/newsarticle.asp?id=150

[QPR Kevin H]

There's a lot of interesting information circulating in the aftermath of yesterday's shit hitting fan. I've got a lot of reading to do - first...coffee...

[art]

this all sounds like a board room battle to me....Bill Power was negotiating with Ginanni Paladini to either buy the club or pay the ABC loan, then this F1 guy comes in and GP says "wait...this could be better" at which point BP backs off; unfortunately GP didnt go through AC who doesnt like the plan as it apparently does not guarantee he'll get his money back...or something along those lines.

Seems to me AC is playing with fire a bit, either he has something else up his sleeve or he's putting himself before the club and will let it go into administration.

Or, GP's deal with the F1 dude was such a mess or so heavily weighted toward GP and away from AC that there's now a boardroom war going on, and presumably all deals, the Power deal and the Briatori deal, are off for the time being.

Or its something else entirely and ive just misread everything. Unfortunately recent history doesn't give much hope that this scenario is all too far fetched.

Either way it all smells really really bad.

[QPR Kevin H]

From what I've been reading and hearing from sources that I trust...

Caliendo was not pleased with the consortium put together by Briatore, especially the inclusion of two men involved in the Juventus match-fixing scandal. So Caliendo then completely over-ruled Gianni, which led to the two of them clashing on the issue and the blunt "not for sale" statement on the site.

There's now a rumour that Gianni could be on the way out soon. Possibly even today...

The $64k question (or 25 million pound) is, what's Caliendo's play from here? Does he pump more money into the club? Search for new investors that he approves of? Or let the club fall back into administration?

[art]

I just cant help but think that all the press releases, "not for sale", "admin in 2 weeks", etc are all part of some kind of public negotiation ploy by the powers that be within QPR and the potential investors. Perhaps this is the "Italian" way, and none of what we're reading will really mean anything for a little while yet.