Tony Fernandes will clinch QPR takeover today (18.08.2011)
The Sun UK
TONY FERNANDES will clinch his QPR takeover today after buying control of the Premier League new-boys from Bernie Ecclestone.
The 47-year-old Malaysian multi-millionaire is due to confirm the deal for a 51 per cent stake this morning.
Fernandes, who owns the Lotus Grand Prix team and budget airline Air Asia, is believed to be paying Formula One supremo Ecclestone around £25million.
West Ham fan Fernandes turned to QPR after his attempts to buy into the Hammers were snubbed by owners David Gold and David Sullivan in May.
He was in the Loftus Road directors' box on Saturday as Rangers crashed 4-0 at home to Bolton in their Premier League opener.
And he is ready to show his support for boss Neil Warnock by providing cash for new signings before the transfer window shuts on August 31.
Ecclestone, 80, and former Renault GP boss Flavio Briatore paid £1m to buy Rangers in 2007 and shelled out a further £13m to pay off the club's debts.
It is thought Ecclestone will keep a 15 per cent stake in the club while multi-billionaire Lakshmi Mittal's 33 per cent holding is unaffected by the deal.
A shrewd a businessman who loves football and make money of it. After failing to get his favorite team West Ham he turns to Queen Park Rangers, another London club. He sure will ask his manager to buy players and his main target is Scot Parker. Let see how his club will fare in the league.