Briatore buy-out keeps QPR going
Renault chief Flavio Briatore will complete a £19million deal for Queens Park Rangers next week, saving the club from going into liquidation.
Gianni Paladini, who will stay as chairman, said: "This saves the club from liquidation. Mr Briatore wants to do for QPR what Mohamed Fayed has done for Fulham and turn us into a Premier League club. It is a dream come true for all the fans."
Billionaire Briatore will wipe out QPR's debt of £17m and invest in the club that has been out of the top flight since 1996 and beset by debt and boardroom rows.
A spokesman for the Formula One giant said: "Mr Briatore is looking forward to being involved with English football.
"QPR are a club with a rich history and a fine future now."
The club, managed by John Gregory, are at home to Cardiff tomorrow. 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 this year added Kevin Steele, a property lawyer from firm 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.
