League to probe Oldham-QPR link
The Football League has launched an investigation into a £500,000 personal loan made by Oldham chairman Simon Blitz to Championship side QPR.
A League spokesman said: "An issue, relating to Oldham and Queens Park Rangers, was brought to our attention."
The loan, which was registered with Companies House on 18 April, has been confirmed by Blitz.
However, neither QPR chairman Gianni Paladini nor the Football Association would comment on the matter.
Blitz told the Oldham Chronicle: "This is a business deal on a personal level which has no bearing whatsoever on Latics."
QPR's supporters' trust co-ordinator Tracy Stent added: "We are interested in finding out more about this, and we will be trying to do so (after Sunday's game against Stoke)."
Rangers to repay Latics chief loan
QPR say they will pay back immediately the £500,000 personal loan made to them by Oldham chairman Simon Blitz last month.
The Football League last week launched an investigation into the loan, which was registered with Companies House on April 18 and was secured against the potential sale of Rangers' star player Lee Cook.
A Rangers statement read: "Having taken further advice, and having discovered that Simon Blitz did not have the prior written authorisation of the Football Association to make this loan, QPR has agreed to pay back the loan forthwith.
"QPR have been involved in discussions with Simon Blitz about possibilities of re-financing the ABC loan (a £10m loan taken in 2002 from the Panama-registered ABC Corporation and secured against Loftus Road) at a better rate of interest for QPR.
"As part of those negotiations, and by way of a down payment to demonstrate his interest in assisting with this in the future, Mr Blitz agreed to loan QPR £500,000.
"The loan was not made to help QPR with its payroll but was made in the context of the ABC re-financing discussions."
