Today could be make or break day for the bid by Malaysian airline entrepreneur Tony Fernandes to take control of Queens Park Rangers. A deal is close to being finalised but has not been sealed and could be delayed or even collapse as the parties seek to reach agreement on final details.
Today could be make or break day for the bid by Malaysian airline entrepreneur Tony Fernandes to take control of Queens Park Rangers. A deal is close to being finalised but has not been sealed and could be delayed or even collapse as the parties seek to reach agreement on final details.
Mr Fernandes is expected to buy a 51 per cent stake in the club from Bernie Ecclestone who currently owns 62 per cent of the club. The balance of his holding would be acquired by Lakshmi Mittal, the Indian steel magnate who already owns a 33 per cent stake. The outline deal envisages a continuing role for Flavio Briatore who retains a small stake.
The price is not known but it is not thought that Mr Fernandes, who watched Saturday’s defeat by Bolton, would be paying anything close to the £100m rumoured to be sought by Mr Ecclestone. Mr Fernandes has several times sought and failed to buy West Ham United, but his quest for a club may be coming to an end, even if it has led him to the other side of London.