AirAsia boss set to takeover Premier League club

Posted 16/08/2011

Asian airline magnate Tony Fernandes is expected to take control of West London Premier League football club Queens Park Rangers today.

Fernandes, owner of Malaysian low-cost carrier AirAsia, is believed to be close to finalising a deal to give him a 51% stake in the club, which suffered a thrashing by Bolton Wanderers in its first match in the Premier League on Saturday.

Fernandes, whose long-haul off-shoot AirAsia X flies from Kuala Lumpur to London, is believed to have been at the match.

QPR is currently controlled by Formula One boss Bernie Ecclestone, who has a 62% stake in the club. According to the Financial Times, the balance of Ecclestone's share is expected to be sold to Indian steel magnate and multi-billionaire Lakshmi Mittal, who already owns 33% of the club.

Fernandes' business interests include hotels and telecoms in addition to Kuala Lumpur-based AirAsia, one of the region's fastest growing budget airlines. Last week he also acquired a controlling stake in Malaysia flag carrier Malaysia Airlines.

By Linsey McNeill
 

Originally published 16 Aug 2011 at: http://rss.feedsportal.com/c/398/f/5923/s/1762c4a1/l/0L0Stravelmole0N0Cstories0C11489480Bphp0Dmpnlog0F1/story01.htm