Malaysian executive Fernandes buys QPR

Malaysian businessman Tony Fernandes bought based club which earned promotion to the English Premier League this season.

Formula One chief Bernie Ecclestone and his partner Flavio Briatore previously held the majority stake in the club. Ecclestone controlled the club for five seasons.

Fernandes, 47, will become QPR chairman, and continue his role with Malaysia's AirAsia Bhd.

QPR lost its first game back in the EPL last weekend, 4-0, to Bolton, and will play Everton on Saturday in its next match.