ESPNF1 Staff
August 15, 2011
Tony Fernandes is set to buy a controlling stake in QPR from Bernie Ecclestone © Sutton Images
Lotus team principal Tony Fernandes is poised to purchase 51 per cent of Bernie Ecclestone's stake in Premier League side Queens Park Rangers.
According to the Financial Times, Fernandes is close to finalising the deal, while Ecclestone will sell the remaining 11 per cent of his share to steel billionaire Lakshmi Mittal, who already owns 33 per cent of the club. Fernandes - who has previously shown an interest in purchasing West Ham United - was present at Loftus Road on Saturday as QPR were beaten 4-0 by Bolton Wanderers on their return to the Premier League.
Ecclestone bought in to the club in 2007 alongside former Renault team-principal Flavio Briatore, and then purchased the majority of Briatore's shares in late 2010. However, he is thought to be happy to sell following a breakdown in relations between himself and Mittal.
Credit: ESPN F1 (en.espnf1.com)
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