[Soccer/Football] Briatore buy-out keeps QPR going

[Rappy Veteran]

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.