R's deal moves closer

20 August 2007 03:40
Formula One team boss Flavio Briatore has moved a step closer to completing a takeover at Queens Park Rangers after the club's current board of directors tendered their resignations. Board members Nick De Marco, James Ferrary and Kevin Steele have all stepped down with immediate effect as Briatore - the team principal of Renault - moves closer to completing a reported buyout at Loftus Road. "We are delighted to be able to tender our resignations in order to assist in the changes set to take place this week," read a joint statement from the outgoing trio. "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. "We are certain the new investors and the new board will get behind (manager) John Gregory and give him the support he needs."

Source: ESA