Briatore is Renault's Formula One team boss

Reports from Italy have linked Briatore and F1 supremo Bernie Ecclestone with a joint bid for the club, who narrowly avoided relegation last season.

"We are in the early stages," the 57-year-old was quoted as saying in the Italian press.

"We have had some discussions, but nothing has been signed," added the Renault F1 team boss.

606: DEBATE My nerves can't afford to believe this until the deal is signed Ashdown-Ranger

Rangers only just avoided relegation from the Championship last season, and are restricted by the �10m loan they took from the Panama-based ABC Corporation to help them out of administration five years ago.

More than �7m is still owed to club directors and HM Revenue and Customs.

One report suggested that current chairman Gianni Paladini would be allowed to continue to run the club were Ecclestone and Briatore to assume control.

Paladini - who became chairman in the autumn of 2005 after a boardroom coup to oust former incumbent Bill Power - has been willing to sell the club for some time, but has yet to reach an agreement to do so.

When asked whether the deal had been completed, Paladini told the Daily Mail: "I wish it was true."

The QPR Supporters Trust, meanwhile, believe it would be "good news" were Ecclestone and Briatore to step in.

Co-ordinator Tracy Stent said: "The club needs to find someone to re-finance the structure of the ABC loan. It is imperative that something is done about this."

But former England and QPR striker Les Ferdinand, who would like to see Paladini and his board of directors removed, wants any prospective new owners to prove they have the club's future at heart.

"You don't want someone buying the club just because it is in the west London area, and they see it as an investment.

"That is my main concern. These people might have a lot of money, but how would they invest it?"

In July, Ecclestone and Flavio Briatore were linked with a possible takeover of Arsenal.

Eccelstone, who has amassed a reported �3bn fortune over the years knows former Arsenal vice-chairman David Dein, who left the club in acrimonious circumstances in April.

The 76-year-old said then: "If somebody offers me something I think is good value, I will have a go. I'm interested in anything if it's cheap enough."