A good insightful piece in The Athletic on the takeover bid by PAI Capital. Sentences such as "funded by an Azerbaijani millionaire currently embroiled in a 'bitter legal dispute' over allegations of corruption in the former Soviet republic" don't exactly fill me with confidence. Nor does the involvement of former QPR chief executive Phillip Beard, in situ from 2011-2015. Rangers have been run very poorly and under Tony Fernandes splurged a massive amount of money while getting relegated twice. Rio and Anton Ferdinand have been used to endorse the deal, but this seems like PR window-dressing.
Admittedly the consortium's plans to buy the stadium from the LLDC make sense, as does their plan to make the match-day experience involve the whole park. But can we be sure that it's not all about a property deal, as Sullivan and Gold insist?
The Athletic writes: "PAI Capital’s founder is Nasib Piriyev, the son of Nizami Piriyev, a businessman who was arrested by the Azerbaijani authorities in May 2015. The Azerbaijan government also issued an Interpol arrest notice for Nasib Piriyev, who has been based in London for several years.The Piriyevs claim these actions were politically motivated and deny all wrongdoing."
Does the consortium have £400 million in cash? And should they be doing their business in public? A lot more information is needed before I'll be convinced about this, but credit to The Athletic for some good digging.
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