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Kingfisher's £20m QPR deal in doubt
Sep 2 2010 By Paul Warburton
Flavio Briatore
A MASSIVE £20million deal that would make the Kingfisher Beer company QPR’s biggest shareholder was under threat last night.
The stalemate over the massive investment concerns Flavio Briatore and Bernie Ecclestone’s asking price for their stake as the former QPR chairman and his millionaire pal prepare to sever ties with the club once and for all.
The pair from the world of motor racing took a back seat at Rangers when the billionaire Mittal family came to the fore in February.
Lakshmi Mittal and son-in-law Amit Bhatia, who already own a 20 per cent stake, appointed business associate Ishan Saksena as managing director - and their brokering of a deal with India’s best-selling beer now demands that Briatore and Ecclestone play ball.
The pair invested about £15m in loans and shares back in September 2007. But after a promising start, Briatore was accused of interfering with team selection as well as appointing 10 different managers - two of them twice - with no tangible reward.
But last night, the Italian former head of Renault was expecting to make a profit on his time at Rangers that casts doubt on the Kingfisher deal.
Sep 2 2010 By Paul Warburton
Flavio Briatore
A MASSIVE £20million deal that would make the Kingfisher Beer company QPR’s biggest shareholder was under threat last night.
The stalemate over the massive investment concerns Flavio Briatore and Bernie Ecclestone’s asking price for their stake as the former QPR chairman and his millionaire pal prepare to sever ties with the club once and for all.
The pair from the world of motor racing took a back seat at Rangers when the billionaire Mittal family came to the fore in February.
Lakshmi Mittal and son-in-law Amit Bhatia, who already own a 20 per cent stake, appointed business associate Ishan Saksena as managing director - and their brokering of a deal with India’s best-selling beer now demands that Briatore and Ecclestone play ball.
The pair invested about £15m in loans and shares back in September 2007. But after a promising start, Briatore was accused of interfering with team selection as well as appointing 10 different managers - two of them twice - with no tangible reward.
But last night, the Italian former head of Renault was expecting to make a profit on his time at Rangers that casts doubt on the Kingfisher deal.
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