Queens Park Rangers on the selling block

English Queens Park Rangers are for sale, looking at a price tag of roughly GBP 4 million. Chairman Gianni Paladini said he would surrender his stake for GBP 650,000, which is what he paid when he joined the club's board in 2004.

It also was indicated that Antonio Caliendo and Franco Zanotti are also believed to be prepared to accept the price they paid for their larger stakes. The trio own 62 percent of the club.

"We've taken the club as far as we can and don't have the money to take it further," Paladini said. "We need new investment and new people to take QPR forward. We just want the club to succeed. If the right people are there and can show they would be good for QPR, then there is no way we would try to stop them."

Caliendo has made loans to the club in the past to prevent it from going into administration.

But new owners would face 11.59 percent interest repayments on a GBP 10 million loan take out by a previous group of owners to free the club from administration in 2002.

"When we came here the club was in a very bad position," Paladini added. "Things are better now but we've done all we can and someone else is needed to take things forward."

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.