LATEST ON INVESTORS

from the Ealing Gazette 16 January 2004

by David McIntyre

Haleem Kherallah has stepped up his bid for control of QPR by offering the club £1million – provided chairman Nick Blackburn stands down. 

Kherallah has offered £500,000 plus “an interest-free loan” of another £500,000 in the hope of acquiring a major stake in the club. 

He wants to snap up shares held by the current board as well as those of former chairman Chris Wright, but wants to pay 3p a share – half the amount directors Kevin McGrath and Bill Power paid. 

Marylebone-based Kherallah has been trying to take over the club for two years and has rejected offers of a smaller stake. 

Yesterday he was in no mood to back down. 

“I would like to be chairman, but it is not the case that I will not put money in unless I am”, he said. “I would be happy to work with people like Kevin McGrath and Bill Power, and anyone else that wants to help the club. I have nothing personal against Nick, but he is part of the old era and I think he should go.” 

Rangers are also closing in on a deal with another interested party – a supporter, who does not want to be named. He came forward after recent reports that Rangers faced another cash crisis, and he seems set to follow McGrath and Power in injecting money in return for a seat on the board.

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