Queens Park Rangers tie up big-money sponsorship deal with Abbey

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The two-year partnership with the Santander group company will help the club expand their commercial and business interests as billionaire owner Lakshmi Mittal and chairman Flavio Briatore try to raise QPR's profile.

Sealing the deal: QPR chairman Flavio Briatore waves before his wedding in Rome last weekend

Depending on performance both on and off the field, the deal could rise to £1m as the club target promotion to the Premier League under new boss Iain Dowie.

Vice-chairman Amit Bhatia said: "Today is another very important day for QPR, as we welcome one of the world's largest banks on board as our strategic financial partner."

Rangers are expected to name their new shirt sponsor at the beginning of next month.