According to The Sun newspaper, Flavio Briatore is to take control of the ailing English football club Queens Park Rangers (QPR). The tabloid, the highest circulated English daily newspaper in the World, reports that the 57 year old Italian is to takeover the club for the princely sum of £22 million. As part of the deal, Flavio, the Managing Director of ING Renault F1, would write off the £17 million debt the Loftus Road based club have accumulated after a series of torturous seasons in Division 1 of the Football League.
Gianni Paladini, Chairman of the 125 year-old Club, told the newspaper that should the deal go through next week, his fellow countryman will have secured the future of QPR from financial ruin. In doing so, he has also set ‘The Hoops’ on a journey back to the Premiership since their relegation in 1996.
“It s a dream come true for QPR fans and saves this club from liquidationâ€¦Mr Briatore wants to do for QPR what Mohamed Fayed has for Fulham and turn us into a Premier League club,â€ Paladini told the newspaper.
Given the clubs recent past and financial status, many investors would have avoided this deal. However, with Flavio s flare for business and successful track-record in sport, QPR could very well see the Premiership again. How his involvement with QPR will affect his Motorsport responsibilities is yet to be understood.