Formula 1 Bosses Agree

Formula 1 chief Bernie Ecclestone and Renault F1 boss Flavio Briatore have agreed a deal to buy a majority stake in QPR.

Major shareholder Antonio Caliendo and his backers have agreed to sell their shares in the Championship club.

Briatore heads a group which had been talking over a plan to inject new funds to secure the club finances.

QPR's board resigned on Monday 20 August ahead of an assumed bid for parent company QPR Holdings Limited.