The article delves into Tony Fernandes, the former owner of QPR, and his current endeavors after selling his shares in the club. This summer marked the end of Fernandes’ 12-year association with QPR when he divested himself of all his shares in the club, a development that was met with relief among Loftus Road supporters. Fernandes originally acquired the West London club in 2011 when they were competing in the English Premier League.
However, during his ownership, especially between 2011 and 2013, QPR became known for an extravagant and, in many respects, ill-conceived spending spree in an attempt to establish themselves at the top of English football. Under Fernandes’ ownership, the club incurred substantial debts exceeding £150 million, largely due to the generous salaries offered to players such as Joey Barton, Jose Bosingwa, and former Champions League winner Julio Cesar. QPR hasn’t returned to the Premier League since 2015 and has been grappling with the repercussions of their own financial mismanagement in the Championship.
Even though Tony Fernandes is no longer connected to the club in any capacity, the article explores what he is currently involved in. One key reason for selling his shares in QPR, as announced in a club statement in July, was his desire to shift his focus and dedicate his time to other business interests. This decision seems logical given the significant responsibilities he has in the business world, and he likely incurred substantial financial losses during his tenure as QPR’s custodian, particularly during the club’s challenging period in the Premier League.
The article also delves into Fernandes’ notable successes in business outside of football. One of his major achievements was the remarkable growth of the airline company AirAsia, which he purchased in 2001 and quickly cleared its $11 million debts within a year, transforming it into an award-winning and internationally renowned organization. Apart from his involvement in the aviation industry, Fernandes is the owner of Tune Hotels, a hotel chain he established in 2007. Tune Hotels provide accommodation in various locations, including Britain, Australia, and Asia.