Haleem Kherallah is looking to buy a big chunk of Rangers. Here are some of the details of his proposal (from QPR1st and QueensParkRangersFC.com): - Mr Kherallah has tabled a bid to buy 26% of the shares in loftus road plc (or QPR holdings as it should now be known) for £1m. - There will be a further £1m made available as a loan, at 0% interest rate, and for an unlimited length of time. This would be for the sole purpose of buying players of good enough quality to take the club into the first division for the start of the 2004/2005 season. - As a way of protecting the future of the club, a further £1m will be held in a bank account as a way of paying any possible shortfalls in the next two years (i.e. early cup exits). We understand that the only condition of this deal going ahead would be that Ross Jones would leave the club immediately. Mr Khellarah has also stated that Ian Holloway has his full and entire backing and also wishes to make it clear that Ian will have full control of any players that are brought into QPR. --------------- http://www.queensparkrangersfc.com/newsnow/news0506.htm http://www.qpr1st.co.uk/#latest
Looks like the Kherallah bid may be rejected. Don't know if that's good or bad, but it looks like the Board may accept a 2 million pound loan (this too against Loftus Road, as was the 10 million pound loan that got us out of administration) from an Australian-based group. http://www.queensparkrangersfc.com/papers1106.htm
Has the Kherallah bid come back to life? Who is to say. Here's the latest news: http://www.queensparkrangersfc.com/papers1401.htm (second story) http://www.boardroomblues.co.uk/ht140104.htm (another source for same story) Also, of interest... David Thorne has responded to the Hammersmith Times' article above (which says he has "since faded from the picture"). Thorne reports he'll be at the Bournmouth game on 24 January and will be in W12 "to try and conclude arrangements with the Club"! He also says he'll be available to QPR1st, the LSA, and others to answer questions. http://www.boardroomblues.co.uk/thorneresponse.htm