Formula 1

Fernandes Completes Takeover of QPR

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Team Lotus team principal Tony Fernandes has completed his takeover of Premier League football club Queens Park Rangers.

Fernandes’ company Tune Group have brought a majority stake in the London club, buying out previous majority shareholders and famous F1 names Bernie Ecclestone and Flavio Briatore.

The Air Asia founder now has a controlling 66 percent stake and will work alongisde the Mittal Family, who have retained33 percent of the newly promoted club.

“Everyone knows I’ve followed West Ham all my life, but I’ve always had a soft spot for QPR,” Fernandes told the club’s website. “Rangers were one of the first teams I watched as a child at Loftus Road.”

“The opportunity to get involved with the Club was mentioned to me by the previous owners and here I am. I’ve always wanted to be involved in football and the appeal of a London Club, like QPR, was too good an opportunity to turn down.

“It’s funny how life has a way of spinning things round. It goes full circle sometimes. QPR is a raw diamond and hopefully I can contribute into turning it into a diamond.”

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