Premier League Queens Park Rangers signed ManU Park Ji Sung for £5M ($7.7M) and will unveil "ambitious plans for a new stadium" on Monday "to underline their intention to become an established club in the top flight," according to Gary Jacob of the LONDON TIMES. The proposed £180M ($279M) stadium will be in White City in West London, and will include a retractable roof and seating, allowing it to be used for concerts and other indoor events, as well. QPR said it would put the brand “on a global scale.” They believe that the extra income generated from the 35,000 capacity -- compared with 18,360 at their current site -- coupled with sponsorship from a naming-rights deal and improved corporate facilities "will help the club to maintain their status" in the EPL. The ability to turn the stadium into an indoor arena will allow them "to compete with the O2" arena, in southeast London, to hold concerts and exhibitions to generate further revenue. QPR Chair Tony Fernandes wrote on Twitter: "Looks great. Going to make a big announcement." The tweet also said: "Stadium will be in West London" (LONDON TIMES, 7/7).
JUST AROUND THE CORNER: The FINANCIAL TIMES' Hammond & Grant reported that Battersea Power Station has been bought for £400M ($619M) by a consortium of Malaysian companies in the "latest attempt to turn the property into a commercial venture." Administrators chose the consortium last month as preferred bidder for the 39-acre site on London's Thames River, sidelining efforts by Chelsea FC owner Roman Abramovich "to secure it to build a new stadium" for his team (FINANCIAL TIMES, 7/5).
