Hot on the heels of rumours linking Bernie Ecclestone to an investment in Arsenal, Flavio Briatore is on the verge of becoming the next owner of rival London club Queens Park Rangers.

The board of the west London club's holding company QPR Holdings Ltd have resigned en masse ahead of the expected confirmation of Briatore's involvement, paving the way for what is being reported as a ?22million takeover bid by the Renault F1 team boss due to be completed in a matter of days. Principal shareholder Antonio Caliendo has agreed to sell his stake in the club and was among those to claim that the 'new investment will be the most important for years'.

"We are delighted to be able to tender our resignations from the board in order to assist in the changes set to take place this week," a statement from three ex-board members - Kevin Steele, Nick De Marco and James Ferrary - read, "It will save QPR from the perilous financial position we have found ourselves in and should put the club in an excellent position to move forward. We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as chairman of the club. We are certain the new investors and the new board will get behind manager John Gregory and give him the support he needs."

Briatore is understood to be the figurehead for a group of investors buying into the club, which is currently struggling in the English Championship.

 

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