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Flavio Briatore, the Italian principal at the Renault Formula One team, is in takeover talks with Queens Park Rangers. QPR are desperate for a buyer with cash. They are staggering under the weight of a £10m high interest loan and have spent months trying to satisfy creditors. At one point this year they even faced a winding-up order from the St.John Ambulance service over an unpaid bill of £18,000. It is thought that Briatore would probably get the club at a price below the £30m regularly quoted, because of the debt burden. But he would still be faced with financing a reconstruction plan capable of getting QPR back into the top flight. Briatore, who is thought to be worth about £70m, is said to have pledged £10m for transfers, but more would be needed and he is not in the wealth class of someone like Bernie Ecclestone who was intially linked with the bid. However, he is one of the best-connected men in Europe and could find backers easily to help to broker a quick takeover.
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