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The appointment of Dowie, a former QPR player, has been lauded by QPR's Sporting Director and former Chairman Gianni Paladini who said: "Iain Dowie has a proven track record in the Championship and we are delighted to have him on board."
Dowie, who must be delighted to be working back in the north again (well certainly north of Crystal Palace and Simon Jordan), admitted: "This is a very exciting long term project. I'm very privileged to have been given the opportunity under the new ownership to return to the club where I served my managerial apprenticeship [he had a short spell as caretaker boss].
"I've been thoroughly impressed by the new investors and their fresh, aggressive and innovative approach to all sporting matters, as well as the marketing and commercial aspect of this football club.
"QPR is a fantastic club with a steep and successful history and I'm going to relish the challenge that lies ahead."