Financial Troubles and Problems Off The Pitch
For some 10 years from the mid-1990s until late 2007, QPR were embroiled in financial and boardroom controversy. The club floated on the Alternative Investments Market in 1996 at the instigation of Chris Wright, but in 2001 following the relegation from the Premiership and a number of seasons in the second tier, the club was obliged to enter administration. A proposal to merge with Wimbledon was raised, but proved controversial and was dropped.
The club left administration burdened with a £10m loan from a Panamanian-registered financier at heavy interest, and secured by a mortgage upon the club's stadium. The club's debts were rumoured to be close to £20 million.
Scandal involving the directors, shareholders and other interested parties emerged during the 2005–06 season, following allegations of blackmail and threats of violence against the club's then chairman Gianni Paladini, who was allegedly held at gunpoint during a match at Loftus Road by hired thugs at the instigation of rival directors. He was later reported to have received threats and was, for a time, wearing a bullet-proof vest. The Chairman also launched a strong attack against some critics who he claimed were seeking to destroy the club.
In an unrelated incident youth team footballer Kiyan Prince was murdered on 18 May 2006.
Read more about this topic: History Of Queens Park Rangers F.C.
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