Racing duo get green light to buy English club QPR

 Briatore, who heads the Formula One team Renault, said Monday his investment vehicle, Sarita Capital, has offered to pay 1 million pounds for QPR's shares and take on 13 million pounds of the west London club's current debt.

 Briatore and Formula One supremo Ecclestone have also agreed to loan the club a further 5 million pounds, partly to buy new players.

 "Bernie and I were delighted to receive a recommendation from the board of QPR for our bid," Briatore said in a statement posted Monday on the QPR website.

 The club's board has urged shareholders to accept the deal, saying they hope it "will help provide the club with the financial strength necessary to improve its performance in both the Championship and, in time, enable the club to gain promotion to the FA Premier League."

   Under the bid terms, Gianni Paladini would remain as chairman of the club, and a director of QPR.

 "We are fully aware of the history of QPR and the loyal fan base that it has, we are therefore totally committed to bringing future success back to the club," Briatore said.

 "Gianni, Bernie and I are all determined to see the club return to the Premiership within the next four years."

   Ecclestone, who had been linked with launching a bid for Premiership side Arsenal this summer, has also been quoted as saying he wants to see QPR back in the Premier League within four years.

 QPR have not been in the top-flight since they were relegated in 1996.

DPA