Queens Park Rangers, the struggling Championship soccer membership, has drafted in a staff of US bankers to assist pitch it to new traders.
Sky News has learnt that the board of QPR has engaged Montminy & Co, which relies in Santa Monica, California, to safe new monetary backers.
The search, which has been underneath approach for the reason that summer season, comes with the Hoops sitting in twenty third place in English soccer’s second tier and going through a relegation battle with two-thirds of the season nonetheless to play.
QPR’s greatest shareholder is Ruben Gnanalingam, a Malaysian businessman who owns almost 60% of the membership.
Amit Bhatia, the son-in-law of billionaire metal tycoon Lakshmi Mittal, owns slightly below 20%, whereas Richard Reilly, a US investor, holds 21%.
Founded in 1882, QPR final performed within the Premier League in 2011.
It is among the many English Football League golf equipment which stand to obtain cash from their top-flight counterparts as a part of a long-delayed ‘New Deal’ for English soccer.
The Premier League’s hopes of placing the £900m-plus settlement to its golf equipment to vote on at a gathering this week have been, nevertheless, dashed amid persevering with disagreement.
Sources near the membership denied that its shareholders have been contemplating an outright sale.
Lee Hoos, QPR’s chairman and CEO, stated lately that the present traders’ “commitment is unwavering”.
“They have gone through… what they would be looking for is someone was to come in and sit alongside them at the table, but they have never wavered in their commitment.”
Source: information.sky.com”