F1 commercial supremo Bernie Ecclestone is reported to have bought out Flavio Briatore’s stake in Queens Park Rangers football club which gives him a majority stake of 62%.
“We’re not changing anything, just tidying a few things up,” Ecclestone told Reuters. “We need to be ready in case we get promoted.”
Ecclestone got involved in QPR in 2007 along with Briatore and steel magnate Lakshmi Mittal, who remains a significant shareholder. The club is based in London, near the BBC’s headquarters in Shepherd’s Bush.
It is currently flying high in the English second league known as the Championship, four points clear at the top. There is a very good chance that the club will be promoted to the English Premier League next season, where the real money is. The club has not been in the top flight since 1996.
However to stay in the Premier League requires significant investment in players and if the club plans to stay there long term it will need a larger ground.