Fernandes in talks to buy club
Saturday 30 July 2011
Talks are continuing between Tony Fernandes, the Malaysian airline tycoon, and Queen's Park Rangers owner Bernie Ecclestone towards a sale of the newly-promoted Premier League club.
Fernandes, who tried to buy West Ham earlier this year but was rebuffed, has been speaking to Ecclestone and his partner, Flavio Briatore, for most of the month. The trio know each other through Formula One in which Fernandes races Team Lotus. It remains unclear whether Fernandes will buy a controlling interest, leaving Ecclestone and Briatore with a minority share, or if he will merely take a stake in the club. Ecclestone currently owns 62 per cent of the club, with Indian steel magnate Lakshmi Mittal owning the rest.
An attempt by Mittal to buy out Ecclestone failed some months ago, and the subsequent impasse has left manager Neil Warnock starved of funds.
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