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Queens Park Rangers takeover finished

Updated: August 18, 2011, 2:02 PM ET
Associated Press

LONDON -- Malaysian businessman Tony Fernandes completed his takeover of English Premier League club Queens Park Rangers on Thursday after buying out Formula One boss Bernie Ecclestone and former Renault F1 team principal Flavio Briatore.

Fernandes' Tune Group, which also includes budget airline AirAsia and F1's Team Lotus, bought a 66 percent stake in the west London club for a reported $58 million.

"Football is a fantastic business if it is done well and a fantastic brand-building ...

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