Bemused Wright denies new QPR share deal

Chris Wright, the former QPR chairman, says he is prepared to sell his 12 per cent stake in the club but today refuted claims that he had agreed a deal to off-load his shares to the new board just before Christmas.

Wright, the owner of English and European club rugby champions London Wasps, says he has never spoken to the QPR board or director Gianni Paladini, despite claims that he had finalised a deal.

Now Wright wants to set the record straight on a story which has rumbled on since he left the club. Wright said: "I have had absolutely no involvement whatsoever, in any form, with QPR or Loftus Road since I resigned as chairman four years ago. Between myself and my pension fund and family trust, I own approximately 12 per cent of the shares in Loftus Road.

"This figure would have been higher were it not for the fact that I have, on every occasion, supported share issues to third parties, which have had the effect of diluting my share holding substantially.

"An agreement exists whereby the board of QPR have a right to match any offer from a third party to purchase my shares."

Wright was approached last autumn by an "intermediary" purporting to be acting for Paladini who enquired about purchasing the 12 per cent. But no specific proposal was ever made.

"Of course, I would be happy for Mr Paladini or any other member of the board at QPR to acquire my shares, as the board has a matching right to do so at any time, if it so wishes," said Wright.

"However, no formal offer was received."

He added: "Whilst away on vacation after Christmas, I was amazed to be told that a BBC sports website had carried a statement from club chairman Bill Power that the board of QPR had reached an agreement with me for the purchase of my shares.

"I was also amazed by [chief executive] Mark Devlin's statement on the official QPR website saying that the purported deal for the purchase of my shares had now fallen through as a result of an offer from a new consortium to invest money in the club.

"I want to make it absolutely clear that no deal had ever been done to sell my remaining shares and that I have no knowledge or involvement with this consortium. Any disposal of my shareholding would, in all probability, be to the current board of QPR, presumably Mr Paladini or the chairman Bill Power, and I have never met or spoken to either of these individuals."