The departure of Davies, who has been at QPR for four years, was confirmed after a series of board meetings.
Davies was instrumental for the club through tough times steering us out of administration and putting the club back on track for a safe future.
Fans are split in there opinions on the man but it has to be said that Davies' departure is a big blow and it remains to be seen who will step into his shoes. Some rumours are suggesting that Gianni Paladini is going to up his stake in the club and we will be looking at an Italian takeover.
On his departure Davies said:
"Whilst I am naturally sad to be leaving, I'd like to place on record my best wishes to the players and the supporters for the future,".
QPR Holdings chairman Ross Jones said: "He has worked his socks off for the company and I am personally very grateful for all he has done."
Richard Johnson, Matthew Rose and Richard Edghill remain out of contract and negotiations with Watford over the signing of Lee Cook seem to have stalled. A tribunal now seems the only likely outcome. Ian Holloway has already said there is no money to spend and the squad looks worryingly thin as we head into the last two weeks before pre-season training.
One thing that is in place is the new coaching system put in place by Holloway. For all the latest QPR news log onto QPR MAD.
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