An announcement that Air Asia entrepreneur Tony Fernandes has acquired a majority stake in Queens Park Rangers is expected today. Most reports refer to a 51 per cent holding, but another possible formula is a 56 per cent stake for Fernandes while Lakshmi Mittal would increase his stake to 43 per cent. He and Fernandes are reported to have struck up a good relationship.
An announcement that Air Asia entrepreneur Tony Fernandes has acquired a majority stake in Queens Park Rangers is expected today. Most reports refer to a 51 per cent holding, but another possible formula is a 56 per cent stake for Fernandes while Lakshmi Mittal would increase his stake to 43 per cent. He and Fernandes are reported to have struck up a good relationship.
The amount paid by Fernandes is likely to be short of the £100m originally asked for by Bernie Ecclestone given the need for investment in the playing squad. The acquisition is expected to trigger a buying spree at Loftus Road, but it looks as if Scott Parker will head elsewhere.