Post by Macmoish on Aug 16, 2011 7:01:12 GMT
Flashback 8 years
Wall Street Journal
* SOCCER * AUGUST 16, 2011,
Malaysian Airline Chief Seeks London Soccer Team
By JAMES HOOKWAY
Malaysia's Tony Fernandes might soon join the list of Asian tycoons to dabble in the glamour of the world's most-watched soccer league if his efforts to buy a majority stake in London's Queens Park Rangers succeed.
Queens Park Rangers' Tommy Smith chased the ball against Bolton Wanderers during their English Premier League soccer match at Loftus Road in London on Saturday.
People familiar with the situation say Mr. Fernandes, the 47-year-old chief executive of budget airline AirAsia Bhd., hopes to secure a 51% stake in the English Premier League club by buying entrepreneur Bernie Ecclestone's 62% holding along with Lakshmi Mittal, the London-based global steel tycoon who already owns a third of QPR.
An announcement could come as soon as Tuesday, these people said, though they cautioned that talks could still fall apart. The value of the stake is unclear. Mr. Fernandes couldn't immediately be reached for comment, nor could Messrs. Ecclestone or Mittal.
If he succeeds, Mr. Fernandes could join the growing number of Asian bosses who own or have owned English Premier League clubs. Thailand's ousted leader Thaksin Shinawatra bought Manchester City and encouraged fans to call him "Frank" before he agreed in 2008 to sell it to a private equity group led by a member of Abu Dhabi's royal family. Hong Kong's Carson Yeung bought Birmingham City only to see it relegated last season to a lower league, while Indian poultry firm Venky's Ltd. bought Blackburn Rovers in November.
Mr. Fernandes in June said he made an offer to buy West Ham United, but the board rejected his offer.
English soccer is widely watched across the world, especially in Asia, where it is commonplace to see people dressing themselves up in the colors of top teams such as Manchester United, Chelsea and Arsenal on weekends. Many clubs have foreign owners, including Russian oil billionaire Roman Abramovich, who used his fortune to reinvigorate Chelsea, and the Glazer family of the U.S., which controls Manchester United.
A fan of the league's West Ham, Mr. Fernandes attended QPR's first game of the season Saturday, at which it lost on its home field to Bolton Wanderers. In an interview with Sky Sports, he said he would offer his full support to manager Neil Warnock and his immediate goal would be to ensure that the club avoids relegation to a lower league this year before strengthening the team for the future.
Analysts say Mr. Fernandes's move for QPR could buy more exposure back home and abroad as it unrolls more long-haul routes through its AirAsia X brand. In previous years, the airline has sponsored sports teams such as Manchester United and the Oakland Raiders U.S. football team to help boost its profile in the quickly expanding budget airline market.
Mr. Fernandes, meanwhile, has plowed his own money into the Lotus F1 racing team, which he has used to aggressively promote AirAsia.
This former music industry executive has turned AirAsia into one of Southeast Asia's best-known brands. Last week he gained effective control of Malaysia's state-owned Malaysian Airline System Bhd by acquiring a 20.5% through his privately held Tune Group. Mr. Fernandes gave the Malaysian government a 10% stake in AirAsia and a similar stake in Air Asia X.
Still, buying an English soccer club isn't always a quick route to commercial success. Birmingham City's Mr. Yeung was arrested in June by Hong Kong police on charges of money laundering involving over $93 million. A Hong Kong court denied him permission to travel to see Birmingham's first game of the new season. Mr. Yeung, who hasn't yet entered a plea, couldn't be reached for comment.
—Polly Hui in Hong Kong contributed to this article.
online.wsj.com/article/SB10001424053111903392904576511382577954152.html
Evening Standard
Tony Fernandes: Neil Warnock has my support Simon Johnson
16 Aug 2011
Tony Fernandes is expected to take over Queens Park Rangers in the next 24 hours and has pledged his support for boss Neil Warnock.
The Malaysian businessman will become the majority shareholder and is understood to be buying more than the 51 per cent stake initially discussed.
The owner of Air Asia and Formula One's Team Lotus was at Loftus Road for the club's opening game drubbing by Bolton but said: "I think Neil is a super guy and he's done extremely well to have got QPR to where they are.
"He'd have my full support. I think the manager should get what the manager wants."
Bernie Ecclestone, who owns 66 per cent, has wanted to sell for some time and this deal will ensure he ends his ties with Loftus Road.
Steel magnate Lakshmi Mittal is also set to increase his 33 per cent share but Fernandes will have overall control.
QPR have pencilled in a press conference at Loftus Road on Thursday to announce the deal.
The news will come as a huge boost to Warnock as Fernandes wants him to sign four players before the transfer window shuts.
Meanwhile, Kieron Dyer could be fit to face Wigan in 11 days. It was feared the forward had broken his foot on debut in the 4-0 defeat by Bolton but it is just badly bruised.
Dyer has been wearing a compression unit to help speed up his recovery.
www.thisislondon.co.uk/standard-sport/football/article-23978676-fernandes-warnock-has-my-support.do
One Perspective/Pre-ASsessment
Opinion: Team Lotus and QPR – will it be one pitch too many?
www.skiddmark.com/2011/08/16/team-lotus-and-qpr-will-it-be-one-pitch-too-many/
@ijtaylor81
IanJTaylor
Expecting an exciting end to the week at #QPR. Concluding with a trip to Everton on Saturday. Premier League is on a different level. Fact
Wall Street Journal
* SOCCER * AUGUST 16, 2011,
Malaysian Airline Chief Seeks London Soccer Team
By JAMES HOOKWAY
Malaysia's Tony Fernandes might soon join the list of Asian tycoons to dabble in the glamour of the world's most-watched soccer league if his efforts to buy a majority stake in London's Queens Park Rangers succeed.
Queens Park Rangers' Tommy Smith chased the ball against Bolton Wanderers during their English Premier League soccer match at Loftus Road in London on Saturday.
People familiar with the situation say Mr. Fernandes, the 47-year-old chief executive of budget airline AirAsia Bhd., hopes to secure a 51% stake in the English Premier League club by buying entrepreneur Bernie Ecclestone's 62% holding along with Lakshmi Mittal, the London-based global steel tycoon who already owns a third of QPR.
An announcement could come as soon as Tuesday, these people said, though they cautioned that talks could still fall apart. The value of the stake is unclear. Mr. Fernandes couldn't immediately be reached for comment, nor could Messrs. Ecclestone or Mittal.
If he succeeds, Mr. Fernandes could join the growing number of Asian bosses who own or have owned English Premier League clubs. Thailand's ousted leader Thaksin Shinawatra bought Manchester City and encouraged fans to call him "Frank" before he agreed in 2008 to sell it to a private equity group led by a member of Abu Dhabi's royal family. Hong Kong's Carson Yeung bought Birmingham City only to see it relegated last season to a lower league, while Indian poultry firm Venky's Ltd. bought Blackburn Rovers in November.
Mr. Fernandes in June said he made an offer to buy West Ham United, but the board rejected his offer.
English soccer is widely watched across the world, especially in Asia, where it is commonplace to see people dressing themselves up in the colors of top teams such as Manchester United, Chelsea and Arsenal on weekends. Many clubs have foreign owners, including Russian oil billionaire Roman Abramovich, who used his fortune to reinvigorate Chelsea, and the Glazer family of the U.S., which controls Manchester United.
A fan of the league's West Ham, Mr. Fernandes attended QPR's first game of the season Saturday, at which it lost on its home field to Bolton Wanderers. In an interview with Sky Sports, he said he would offer his full support to manager Neil Warnock and his immediate goal would be to ensure that the club avoids relegation to a lower league this year before strengthening the team for the future.
Analysts say Mr. Fernandes's move for QPR could buy more exposure back home and abroad as it unrolls more long-haul routes through its AirAsia X brand. In previous years, the airline has sponsored sports teams such as Manchester United and the Oakland Raiders U.S. football team to help boost its profile in the quickly expanding budget airline market.
Mr. Fernandes, meanwhile, has plowed his own money into the Lotus F1 racing team, which he has used to aggressively promote AirAsia.
This former music industry executive has turned AirAsia into one of Southeast Asia's best-known brands. Last week he gained effective control of Malaysia's state-owned Malaysian Airline System Bhd by acquiring a 20.5% through his privately held Tune Group. Mr. Fernandes gave the Malaysian government a 10% stake in AirAsia and a similar stake in Air Asia X.
Still, buying an English soccer club isn't always a quick route to commercial success. Birmingham City's Mr. Yeung was arrested in June by Hong Kong police on charges of money laundering involving over $93 million. A Hong Kong court denied him permission to travel to see Birmingham's first game of the new season. Mr. Yeung, who hasn't yet entered a plea, couldn't be reached for comment.
—Polly Hui in Hong Kong contributed to this article.
online.wsj.com/article/SB10001424053111903392904576511382577954152.html
Evening Standard
Tony Fernandes: Neil Warnock has my support Simon Johnson
16 Aug 2011
Tony Fernandes is expected to take over Queens Park Rangers in the next 24 hours and has pledged his support for boss Neil Warnock.
The Malaysian businessman will become the majority shareholder and is understood to be buying more than the 51 per cent stake initially discussed.
The owner of Air Asia and Formula One's Team Lotus was at Loftus Road for the club's opening game drubbing by Bolton but said: "I think Neil is a super guy and he's done extremely well to have got QPR to where they are.
"He'd have my full support. I think the manager should get what the manager wants."
Bernie Ecclestone, who owns 66 per cent, has wanted to sell for some time and this deal will ensure he ends his ties with Loftus Road.
Steel magnate Lakshmi Mittal is also set to increase his 33 per cent share but Fernandes will have overall control.
QPR have pencilled in a press conference at Loftus Road on Thursday to announce the deal.
The news will come as a huge boost to Warnock as Fernandes wants him to sign four players before the transfer window shuts.
Meanwhile, Kieron Dyer could be fit to face Wigan in 11 days. It was feared the forward had broken his foot on debut in the 4-0 defeat by Bolton but it is just badly bruised.
Dyer has been wearing a compression unit to help speed up his recovery.
www.thisislondon.co.uk/standard-sport/football/article-23978676-fernandes-warnock-has-my-support.do
One Perspective/Pre-ASsessment
Opinion: Team Lotus and QPR – will it be one pitch too many?
www.skiddmark.com/2011/08/16/team-lotus-and-qpr-will-it-be-one-pitch-too-many/
@ijtaylor81
IanJTaylor
Expecting an exciting end to the week at #QPR. Concluding with a trip to Everton on Saturday. Premier League is on a different level. Fact