Fernandes completes QPR buyout
Source: Agencies |
August 19, 2011, Friday
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MALAYSIAN entrepreneur Tony Fernandes completed the takeover of Premier League club Queens Park Rangers yesterday and promised to take the club to new heights in the next few years.
Fernandes, 47, owner of the Team Lotus Formula One outfit and low-cost airline AirAsia, struck a deal to buy the promoted London club in the early hours yesterday, buying out majority shareholder Bernie Ecclestone and former Renault F1 boss Flavio Briatore.
Fernandes, who makes no secret of the fact he is a West Ham United fan, was presented to the media at the club's Loftus Road ground with team manager Neil Warnock, who got the new owner's full backing, and returning vice-chairman Amit Bhatia.
Fernandes said he would be relying on Bhatia's support "in taking what I consider to be an unpolished diamond to become a fully-fledged diamond over the next period of years. "To the fans I say I will do my best and leave no stone unturned in taking QPR to higher heights.
"For me the main aim now is to see us remain in the Premier League and, with these gentlemen (Warnock and Bhatia), to build a club you will be proud of. We will get everyone involved in trying to make this club a much better club."
Fernandes, who tried to buy West Ham in the past, said he had always had a soft spot for QPR, a club that has traditionally played some attractive soccer, but rarely challenged for the game's major honors.
"I used to live in the Uxbridge Road (close to the west London ground) and saw my first live match at Loftus Road," he said, "but I never imagined that one day I would become chairman."
Bhatia told the news conference Fernandes had taken a controlling 66 percent stake in the club, buying Briatore and Ecclestone's shares.
"Tony is now the majority shareholder with 66 percent and will also be the new chairman" he said.
Bhatia, son-in-law of the Indian steel billionaire Lakshmi Mittal who owns 33 percent of the club, confirmed that his family would retain their stake and that he would return to the position of vice-chairman which he left last season following a dispute with the previous owners.
Meanwhile, Chelsea goalkeeper Petr Cech will be sidelined for three to four weeks after suffering a knee ligament injury in training, manager Andre Villas-Boas said yesterday.
Cech fell awkwardly during Wednesday's session and Chelsea will be hoping he returns in time for the Premier League trip to champion Manchester United on September 18.
In the 29-year-old's absence Villas-Boas will have to call on one of his back-up keepers, Hilario or Ross Turnbull, for tomorrow's Premier League game at home to West Bromwich Albion.
Chelsea meanwhile has completed the signing of teenage striker Romelu Lukaku from Anderlecht.
The club said a deal had been finalized for the 18-year-old Lukaku, who has already played nine times for Belgium.
A fee, reported to be between 15 and 20 million pounds (US$25-33 million), was agreed earlier this month and the player underwent a medical at Chelsea's Cobham training ground last week.
Fernandes, 47, owner of the Team Lotus Formula One outfit and low-cost airline AirAsia, struck a deal to buy the promoted London club in the early hours yesterday, buying out majority shareholder Bernie Ecclestone and former Renault F1 boss Flavio Briatore.
Fernandes, who makes no secret of the fact he is a West Ham United fan, was presented to the media at the club's Loftus Road ground with team manager Neil Warnock, who got the new owner's full backing, and returning vice-chairman Amit Bhatia.
Fernandes said he would be relying on Bhatia's support "in taking what I consider to be an unpolished diamond to become a fully-fledged diamond over the next period of years. "To the fans I say I will do my best and leave no stone unturned in taking QPR to higher heights.
"For me the main aim now is to see us remain in the Premier League and, with these gentlemen (Warnock and Bhatia), to build a club you will be proud of. We will get everyone involved in trying to make this club a much better club."
Fernandes, who tried to buy West Ham in the past, said he had always had a soft spot for QPR, a club that has traditionally played some attractive soccer, but rarely challenged for the game's major honors.
"I used to live in the Uxbridge Road (close to the west London ground) and saw my first live match at Loftus Road," he said, "but I never imagined that one day I would become chairman."
Bhatia told the news conference Fernandes had taken a controlling 66 percent stake in the club, buying Briatore and Ecclestone's shares.
"Tony is now the majority shareholder with 66 percent and will also be the new chairman" he said.
Bhatia, son-in-law of the Indian steel billionaire Lakshmi Mittal who owns 33 percent of the club, confirmed that his family would retain their stake and that he would return to the position of vice-chairman which he left last season following a dispute with the previous owners.
Meanwhile, Chelsea goalkeeper Petr Cech will be sidelined for three to four weeks after suffering a knee ligament injury in training, manager Andre Villas-Boas said yesterday.
Cech fell awkwardly during Wednesday's session and Chelsea will be hoping he returns in time for the Premier League trip to champion Manchester United on September 18.
In the 29-year-old's absence Villas-Boas will have to call on one of his back-up keepers, Hilario or Ross Turnbull, for tomorrow's Premier League game at home to West Bromwich Albion.
Chelsea meanwhile has completed the signing of teenage striker Romelu Lukaku from Anderlecht.
The club said a deal had been finalized for the 18-year-old Lukaku, who has already played nine times for Belgium.
A fee, reported to be between 15 and 20 million pounds (US$25-33 million), was agreed earlier this month and the player underwent a medical at Chelsea's Cobham training ground last week.
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