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Last Updated: Thursday, 30 December, 2004, 17:18 GMT
QPR strike deal with Wright
Chris Wright
Wright bought QPR in 1996
Ex-owner Chris Wright has agreed a deal to sell his 15% stake in Queens Park Rangers following lengthy negotiations, according to chairman Bill Power.

Wright is expected to sell his shares at the full price but give the club 50% of the money paid to him.

Power, who took over as Rangers chairman in June, said: "Chris has finally made what we consider to be to be a good offer to sell his shares.

"He'll give a significant amount of cash to the club. It's a nice gesture."

It is not yet clear who will buy Wright's shares.

But a Monaco-based group that purchased a stake in QPR earlier this year have first refusal.

Wright bought Rangers along with rugby union outfit London Wasps in 1996 and formed Loftus Road plc.

A financial crisis hit the company and Wright stood down as QPR chairman in 2001. He later relinquished his majority shareholding.

He retained a stake in the football club and remains the owner of Wasps, who now operate seperately.

Meanwhile, R's boss Ian Holloway will make another attempt to capture Middlesbrough centre-back Andrew Davies.

The 20-year-old was set to sign on loan before Christmas but Boro blocked the move because of injury problems at the Riverside Stadium.

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