Football club confirms F1 bosses’ takeover

(GMM) Queens Park Rangers has finally confirmed that formula one bosses Flavio Briatore and Bernie Ecclestone have "made a recommended offer" for the London football club.

The duo, famous for their leading roles in the world's grand prix paddocks, are believed to have paid about (US) $60m and will leave current chairman Gianni Paladini at the helm.

"Bernie and I were delighted to receive a recommendation from the board of QPR for our bid for the club and we look forward to working alongside (Paladini) and his team," Italian Briatore, team boss of F1's French team Renault, said in a statement issued by QPR.

Following the announcement on Saturday, and in the presence of Briatore, the west London club lost 3-0 at home to Southampton.