Wednesday, August 3, 2011

Owners QPK in decision-making talks to "preliminary".

Queens Park Rangers are in talks on possible new owners, the Premier League club confirmed.

QPR owners Bernie Ecclestone Flavio Briatore
GettyImagesOwners QPK Bernie Ecclestone Flavio Briatore

In March, the club owner Bernie Ecclestone suggested he might be interested inselling its 69% QPK shares for £ 100 million - and the club entered into talkswith anonymous group, with due diligence taken place.

However, while these discussions does not have to agree, QPK have released a statement revealing the club had begun today "from preliminary discussions with different part".

"March 4, society (QPK Holdings Limited) announced that it was inpreliminary discussions with a potential buyer," the statement read.

"At the time where the takeover panel has confirmed that if those discussions completed an offer for the company, the offer would be subject to the Citycode on support by and mergers (the code), even if such an offer was made afterApril 2, the date to which the society ceased to be the code, because the itbeing removed 10 years previously.

"The company confirms that these discussions ended in March. Since the end of these discussions, the company entered into preliminary discussions with a different party and can confirm that these subsequent transactions of the andany of discussions would not be subject to the code.

"Accordingly the company confirms that it is no longer in a period forthe offer for the purposes of the code. No further comment will be at the stage. »

One-third of the shares of the QPK belongs to the family of billionaire of metals LakshmiMittal.

In may, Vice President Amit Bhatia, son-in-law of Mittal, resigned from the boardafter a disagreement on the ticket price increases and changes in clubmanagement.

Force India formula 1 team owner Vijay Mallya and President of the UnitedBreweries group, which produces the brand of Kingfisher beer, has already been beenlinked with the Loftus Road club.

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