EDITORIAL USE ONLY No use with unauthorised audio, video, data, fixture lists, club/league logos or "live" services. Online in-match use limited to 120 images, no video emulation. No use in betting, games or single club/league/player publications. Mandatory Credit: Photo by Ian Tuttle/Shutterstock (14056670b) QPR corner flag Queens Park Rangers v Ipswich Town, EFL Sky Bet Championship, Football, Loftus Road, London, UK - 19 Aug 2023
Queens Park Rangers (QPR), the struggling Championship football club, is seeking new investors, and Sky News has learned that the board has enlisted the help of a team of US bankers from Montminy & Co, based in Santa Monica, California, for this purpose. This quest for financial support began in the summer as QPR finds itself in the 23rd position in the English football’s second tier, facing a relegation battle with a significant portion of the season still ahead.
The majority shareholder of QPR is Ruben Gnanalingam, a Malaysian businessman who owns almost 60% of the club. Amit Bhatia, the son-in-law of billionaire steel tycoon Lakshmi Mittal, holds just under 20%, and US investor Richard Reilly owns 21%. QPR, founded in 1882, last competed in the Premier League in 2011.
As part of a long-awaited ‘New Deal’ for English football, QPR, like other English Football League clubs, is set to receive financial support from Premier League counterparts. However, the Premier League’s attempt to present the £900 million-plus agreement to its clubs for voting this week faced challenges due to ongoing disagreements.
Despite the pursuit of new investors, sources close to the club have denied any intentions of an outright sale. Lee Hoos, QPR’s chairman and CEO, emphasized that the current investors’ commitment is strong. He stated recently that while they are open to someone joining them at the table, there has been no wavering in their dedication to the club.
