F1 chief Flavio to buy QPR

The Billionaire has agreed to wipe out the clubs £17m debt and give manager John Gregory cash to spend in the January transfer window.

Rangers chairman Gianni Paladini said: “It’s a dream come true for QPR fans and saves this club from liquidation.

“Mr Briatore wants to do for QPR what Mohamed Fayed has for Fulham and turn us into a Premier League club.”