15 Aug '11, 9pm

Malaysia's Fernandes poised to buy Ecclestone's share in QPR - TODAYonline #TEAMFOLLOWBACK

LONDON - Formula 1 chief Bernie Ecclestone is set to strike a deal to sell his stake in Queens Park Rangers (QPR) to AirAsia group chief executive officer Tony Fernandes (picture), according to reports here yesterday. QPR has been majority-owned by Bernie Ecclestone for the last five years. Malaysian businessman Fernandes is said to be close to buying a 51 per cent controlling stake in the club from Ecclestone for around £100 million (S$196 million). Fernandes, who also owns the Team Lotus Formula 1 outfit, added fuel to takeover speculation on Saturday when he watched the team's 4-0 defeat to Bolton from the directors' box at Loftus Road. Ecclestone reportedly owns 66 per cent of the club, with Indian steel billionaire Lakshmi Mittal the other major shareholder with 33 per cent. Former Renault Formula 1 team boss Flavio Briatore owns 1 per cent. Fernandes, a West Ham fan,...

Full article: http://www.todayonline.com/Sports/EDC110816-0000308/Malay...

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