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 35 million pounds ($58 million).
''Football is a fantastic business if it is done well and a fantastic brand-building business for all the things that we do,'' Fernandes said at QPR's Loftus Road ground. ''QPR is in a fantastic location and has huge potential to develop into something special.''
The 47-year-old Fernandes will become chairman of QPR while also serving as chief executive of AirAsia and team principal of Team Lotus.
''My whole life has been building things,'' he said. ''I bought AirAsia ... and it was two planes, losing lots of money and in the first year we did 200,000 passengers and 10 years on we are doing 32 million.''
Having previously tried to buy West Ham, Fernandes is not hiding his passion for QPR's rivals in east London.
''Everyone knows I've followed West Ham all my life, but I've always had a soft spot for QPR,'' he said. ''Rangers were one of the first teams I watched as a child at Loftus Road.''
Fernandes will be joined on the board by joint Tune Group owner Kamarudin Bin Meranun, while Ecclestone is relinquishing control of QPR after five years as the majority owner.
Steel magnate Lakshmi Mittal, the wealthiest person in Britain, retains his 33 percent stake, while son-in-law Amit Bhatia returns to the role of vice chairman he left in May.
QPR is back in England's top flight after a 15-year absence and avoiding immediate relegation is the priority.
''My major issue is dampening down everybody's enthusiasm that tomorrow everything is going to change,'' Fernandes said. ''This will take time.''
Fans have been unhappy at the lack of offseason investment since being promoted as the League Championship winners, with the Premier League campaign starting with a 4-0 home loss to Bolton last weekend.
''It's been a difficult few months for me and I wouldn't say it has been all that enjoyable,'' manager Neil Warnock said. ''But it's something you have to cope with as a manager. You look back at the previous regime and thank them for keeping the club going.''
Fernandes will give Warnock cash to spend before the transfer window closes on Aug. 31, with West Ham midfielder Scott Parker a priority rather than trying to attract headline-grabbing global stars who might be past their best.
''We have a few days left to bring in targets,'' Warncock said. ''It would give us the squad we need to compete ... we won't be throwing money stupidly.''
Fernandes expects QPR to eventually nurture talented youngsters who will deliver the club's first major title since the 1967 League Cup.
''I'm keen to create a good academy, so that there's a constant supply of players,'' he said. ''We're in a fantastic part of London and we should be bringing kids through.''
Fernandes is also aware of anger about some tickets rising by up to 40 percent this season, but is making no promises about cuts.
''If we have to make changes we will,'' he said coyly.
Fernandes' takeover does present a potential conflict of interest since Tune Group also sponsors match referees, with the company's logo appearing on their shirts.
But the Premier League and England's referees' body said it remains a ''valued partnership.''
''There is no direct contact between Tune and Professional Game Match Officials, and this will continue,'' the statement said. ''The sponsorship was agreed by the PGMO Board, made up of an independent chairman and representatives from the FA (Football Association), Premier League and Football League.''
