QPR have confirmed that Formula One magnates Flavio Briatore and Bernie Ecclestone have "made a recommended offer" for the Championship club.
Briatore, head of the Renault F1 team, and Ecclestone will now take control of the club although current chairman Gianni Paladini will remain in position.
Briatore told the club's official website: "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 Gianni Paladini and his team.
"We are fully aware of the history of QPR and the loyal fanbase that it has and are totally committed to bringing future success back to the club."
Paladini said: "This offer provides much needed investment and an excellent opportunity to move the club forward which will be translated into positive results on the pitch.
"I am delighted that Flavio and Bernie have asked me to remain on the board and I hope to play a large part in the future of QPR."