Premier League new-boys QPR have ended speculation over the future of captain Adel Taarabt after majority shareholders Bernie Ecclestone and Flavio Briatore announced on Saturday that the Moroccan is not for sale.
Taarabt looked set to leave Loftus Road after QPR boss Neil Warnock admitted last week that Briatore was talking to French club Paris St Germain following their Â£13 million offer for the former Tottenham midfielder.
PSG were thought to be close to completing a deal but QPR have confirmed that Taarabt will be at the club next month when they kick-off their first Premier League campaign for 15 years.
"We are pleased to confirm that Adel Taarabt will be staying at QPR this summer," said a club statement released on behalf of Ecclestone and Briatore.
"Despite receiving a substantial bid for our Moroccan international, we rebuffed all approaches and indeed, we are keen to build for the future in the Premier League, and not sell one of our prized assets.
"Taarabt is fully committed to the club and is looking forward to proving his undoubted star quality for QPR in the Premier League."
The 22-year-old was a key figure in QPR's promotion to the Premier League as Championship winners and won the Football League Player of the Year award for his performances.
Selling Taarabt would have raised serious questions about QPR's commitment to remaining in the Premier League, but Briatore and Ecclestone insist the move to snub PSG's interest shows they are determined to become a top-flight force.
"Our decision not to sell him only serves to reiterate the ambition and commitment we have both shown to QPR since we arrived here," the statement continued.
"Should we have decided to sell Taarabt this summer, we made it clear to Neil Warnock that we would reinvest funds into the squad.
"We saved the club when it was close to relegation from the Championship and just one week from liquidation.
"At this time, Flavio Briatore outlined a four-year plan to reach the Premier League, which was achieved."
Although Warnock will be pleased that his star player is staying, he maybe less impressed that Ecclestone and Briatore used the statement to reveal they have spoken to the former Sheffield United boss about toning down his comments to the media.
"Neil Warnock is our coach and we are working closely with him in a professional and confidential manner to try to achieve our aims and objectives," the statement added.
"The coach's job is to coach the squad and identify players he believes will improve the squad. As a board, we deal with all the negotiations and we have been successful in completing deals for (Jay) Bothroyd and (Kieron) Dyer so far.
"We are aware of some issues that have been raised in the press by the coach, but we have discussed these with him internally and he has agreed to be more reserved in terms of what he discusses in the future."