By David Gold
August 18 – Tony Fernandes has brought the summer long ownership saga at Queens Park Rangers to an end by purchasing a 66 per cent stake in the Premier League outfit.
Fernandes bought the shares belonging to Formula One moguls Flavio Briatore and Bernie Ecclestone for approximately $58 million (£35 million/€40 million).
The Malaysian businessman will work alongside the Mittal family, which owns a 33 per cent stake in the company.
Steel tycoon Lakshmi Mittal’s son-in-law Amit Bhatia has been reinstated as the club vice-chairman after resigning in May when ticket prices were increased.
The Mittal family attempted to take over the entire club during the summer but failed, prompting an ownership struggle, which led to the club failing to agree a new shirt sponsorship deal.
Fernandes told the QPR website: “I lived in Uxbridge Road for many years and grew up around the area.
“Everyone knows I’ve followed West Ham all my life, but I’ve always had a soft spot for QPR, Rangers were one of the first teams I watched as a child at Loftus Road.
“I have ambitions in the long term, but I don’t want to make big promises I can’t guarantee.
“The fans pay good money and are stakeholders, so whatever we do, I want the fans to be proud.
“We’ll do it in style and with integrity.
“I’m keen to create a good academy, so that there’s a constant supply of players.
“We’re in a fantastic part of London and we should be bringing kids through.
Bhatia added: “I’m very excited to welcome Tony to QPR and having spent considerable time with him, I know that we share the same vision and values.
“We have discussed in great detail how to restore pride at the club and I’m very pleased with the outcome of these discussions.
“It was a very difficult decision to resign from the board when I did, so I’m thrilled to be back and would like to thank all those who supported me and my family and look forward to serving the club to the best of my abilities again.
“Tony and I will work alongside each other to try and make this season as exciting and successful as possible.
“I love this club and this is a very happy day for me.”
Fernandes owns the Formula One Team Lotus and the low cost airline Air Asia.
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