Malaysian entrepreneur Tony Fernandes has completed the takeover of Queens Park Rangers, the Premier League club said on Thursday.
Fernandes, the owner of the Team Lotus Formula One outfit and the low-cost airline AirAsia, took control of the promoted west London club by buying out majority shareholder Bernie Ecclestone, the F1 supremo.
The 47-year-old Fernandes, who makes no secret of the fact he is a West Ham United fan, said he used to live near QPR's Loftus Road ground and "has always had a soft spot for them."
"I've always wanted to be involved in football and the appeal of a London club like QPR was too good an opportunity to turn down," Fernandes said on the club's official Twitter feed.
He has taken a 66 percent stake in the club and succeeded Ecclstone who had been the majority owner of QPR for the past five years.
Together with former Renault Formula One team boss Flavio Briatore, Ecclestone owned some 70 percent of the club, with Indian steel billionaire Lakshmi Mittal the other major shareholder.
Rangers, who won the Championship (second division) title last season and are back in the Premier League after a 15-year absence, made a terrible start to the new campaign when they lost 4-0 at home to Bolton Wanderers on Saturday.
Questions over QPR's ownership and the future of Warnock have overshadowed the build-up to their first season in the top flight since 1996.
But Fernandes told a news conference on Thursday that QPR manager Neil Warnock has his full support.
In a statement, issued through the club, Fernandes said: "QPR is a raw diamond and hopefully I can contribute to making it into a diamond."
Other changes in the boardroom see the return of Amit Bhatia, who left after a disagreement with the previous board, and he will resume his old position as vice-chairman.
QPR's best league season was in 1975-76 when they finished runners-up to Liverpool in the old first division and they were also FA Cup runners-up in 1982, when, as a second division side they lost to Tottenham Hotspur after a replay.
Their most famous triumph came in 1967 when, as a third division club, they beat top flight West Bromwich Albion 3-2 to win the first League Cup final played at Wembley Stadium.
