New Era Begins As Fernandes Completes Takeover
This afternoon the fantastic news broke that Tony Fernandes has bought out Bernie Ecclestone and Flavio Briatore and start a new era in the clubs history.
At 2pm the press conference was broadcast live on Sky Sports News.
Amit Bhatia introduced himself and Tony Fernandes, stating that Fernandes had now bought out Bernie and Flavio to attain a 66% majority shareholding in the club.
Tony Fernandes will be taking up the role of Chairman of the club, replacing Gianni Paladini in the role and effectively ending the Italian's eight year involvement with the club.
The Mittal family retain their 33% holding in the club and Amit Bhatia will be resuming the Vice Chairman that he left at the end of last season.
Bhatia resigned from the role due to disagreements over the release of Ishan Saksena as QPR Chairman and the decisions made over season ticket pricing. Even though Bhatia left the role he still had the support of the R's faithful as we hoped that the Mittal family would oust the former regime.
The Fernandes and Mittal partnership will be joined by Phil Beard of the Anschutz Entertainment Company (subject to Premier League approval) and he will bring vital business experience into the club as we look to continue to grow as a club and progress to bigger and better things.
Beard was an instrumental part of helping the successful bid for the London 2012 Olympics, transferring the Millennium Dome into to multipurpose arena and helped to turn it into the O2 Arena. Beard was also part of the management team that created the Air Miles loyalty programme.
Its safe to say that there are exciting times ahead for the R's!
Tony Fernandes and Amit Bhatia wasted no time at all in stating that manager Neil Warnock has the full backing of the shareholders and that they would provide the manager with what he wants as the ambition this year is to stay in the Premier League before progressing on to higher heights.
Fernandes described QPR as "a raw diamond that he hopes to contribute to turning it into a diamond".
As well as supporting the manager in the transfer market, Fernandes has longer term plans ahead for the R's.
He wants to improve training facilities and also develop our academy so that we can bring through more of our own players and give the fans a team that they can be proud of.
Finally Amit Bhatia concluded by stating that he and Fernandes will be discussing ticket prices in the near future and an announcement will be made in due course.
Fernandes grow up on the Uxbridge Road and the first live game he attended was at Loftus Road so his surroundings are very familiar and he will very quickly feel at home at QPR.
Welcome aboard Tony and welcome back Amit!! We look forward to enjoying your successful partnership and will enjoy the journey we are about to embark on with you.