Fernandes leaving?

[maidstone_hoop]

https://www.bbc.co.uk/sport/football/45143304 - looks like hes suggesting he will be stepping down. I wonder if the club will be seeking new investment or if Reuben would take full control!


Tony Fernandes has said his time as co-chairman of Championship club QPR is "fast coming to a close".

Fernandes took over at the west London club in 2011 and has been co-chairman with majority shareholder Ruben Gnanalingam since 2015.

But his spell has been controversial and last month saw QPR fined £17m as part of a £42m settlement for breaching Financial Fair Play rules.

Fernandes said on Twitter that he always believed in "being transparent".

The Malaysian businessman, who founded airline AirAsia, has been a regular presence on social media but suggested that would be changing.

He said: "Twitter will be an endless debate. Right or wrong it's how I am. From Crisis in AirAsia I have always believed in being transparent. But my time as chairman is fast coming to a close."

Rangers are controlled by Fernandes and Gnanalingam, with Kamarudin Bin Meranun and the family of Indian steel magnate Lakshmi Mittal also holding stakes.

[Greg1882]

My guess is he won't leave. He talks in such ridiculous riddles i find it increasingly hard to take him seriously anymore. That statement could literally mean anything.

[QPROslo]

As I predicted early this year Tony will step down at the start of the new season, after the annual conversion of loans and interest to shares has taken place. Tony's ownership stake is less than 5% now and it makes no sense for him to be much involved from a financial point of view. Ruben and Tony have been co chairmen, a quite unusual practice. Ruben is now owning around 90% and I find this latest statement a quite natural one. We don't need more than one chairman.

I think we have taken a number of good decisions the last couple of years, and I think these are down to Ruben.

I will thank Tony for his contribution and all the money he has invested, but his time with QPR has regrettably been a disaster, and it will take another three years at least to sort it out (the huge loss of 2017/2018 has financial implication for the how much we can spend the coming two seasons). He has tried his best and he deserves a lot of respect for trying, but it never worked out for him. However, he comes across as a genuinely nice bloke and I wish him a lot of success with Air Asia. He is a much better airline investor than a sport investor.

I think we are in good hands with Ruben, Hoos and Les.

[wortonranger]

As I predicted early this year Tony will step down at the start of the new season, after the annual conversion of loans and interest to shares has taken place. Tony's ownership stake is less than 5% now and it makes no sense for him to be much involved from a financial point of view. Ruben and Tony have been co chairmen, a quite unusual practice. Ruben is now owning around 90% and I find this latest statement a quite natural one. We don't need more than one chairman.

I think we have taken a number of good decisions the last couple of years, and I think these are down to Ruben.

I will thank Tony for his contribution and all the money he has invested, but his time with QPR has regrettably been a disaster, and it will take another three years at least to sort it out (the huge loss of 2017/2018 has financial implication for the how much we can spend the coming two seasons). He has tried his best and he deserves a lot of respect for trying, but it never worked out for him. However, he comes across as a genuinely nice bloke and I wish him a lot of success with Air Asia. He is a much better airline investor than a sport investor.

I think we are in good hands with Ruben, Hoos and Les.

A sensible observation. Excellent post.

[Artful]

As I predicted early this year Tony will step down at the start of the new season, after the annual conversion of loans and interest to shares has taken place. Tony's ownership stake is less than 5% now and it makes no sense for him to be much involved from a financial point of view. Ruben and Tony have been co chairmen, a quite unusual practice. Ruben is now owning around 90% and I find this latest statement a quite natural one. We don't need more than one chairman.

I think we have taken a number of good decisions the last couple of years, and I think these are down to Ruben.

I will thank Tony for his contribution and all the money he has invested, but his time with QPR has regrettably been a disaster, and it will take another three years at least to sort it out (the huge loss of 2017/2018 has financial implication for the how much we can spend the coming two seasons). He has tried his best and he deserves a lot of respect for trying, but it never worked out for him. However, he comes across as a genuinely nice bloke and I wish him a lot of success with Air Asia. He is a much better airline investor than a sport investor.

I think we are in good hands with Ruben, Hoos and Les.

Excellent post

[Fraggy]

Agree, great post Oslo

[klonk]

As I predicted early this year Tony will step down at the start of the new season, after the annual conversion of loans and interest to shares has taken place. Tony's ownership stake is less than 5% now and it makes no sense for him to be much involved from a financial point of view. Ruben and Tony have been co chairmen, a quite unusual practice. Ruben is now owning around 90% and I find this latest statement a quite natural one. We don't need more than one chairman.

I think we have taken a number of good decisions the last couple of years, and I think these are down to Ruben.

I will thank Tony for his contribution and all the money he has invested, but his time with QPR has regrettably been a disaster, and it will take another three years at least to sort it out (the huge loss of 2017/2018 has financial implication for the how much we can spend the coming two seasons). He has tried his best and he deserves a lot of respect for trying, but it never worked out for him. However, he comes across as a genuinely nice bloke and I wish him a lot of success with Air Asia. He is a much better airline investor than a sport investor.

I think we are in good hands with Ruben, Hoos and Les.

uncle has less than 5%??? not unless something has happened in the last few days...

i was under the impression that tune qpr sdn (which is uncle and kamarudin) had 45.2% at the publication date of the last accounts and, so far as i know at least, the only big change since that date was the share conversion which was 50% ruben and 50% tune. i'd make tune's holding at about 46.3%... so actually a bit bigger than it was... i think uncle owns at least half of tune, so his personal stake is probably at least 23%. (ruben is slightly down at 50.9% by my reckoning).

even if the 45.2% figure related to the shares at the balance sheet date (which is unlikely) and all the shares issued since went to ruben (which they didn't), then ruben would still be quite a way below than 70%

[Kirill]

I guess he has done for us all he could. When he came our Premier League future was uncertain, we were bleeding money profusely, had no new stadium or even new training ground prospects, and were reeling from a previous chairman's costly ineptitude that almost scuttled our promotion. And look at us now. Thank you Tony Fernandes!

[rodman]

A sensible observation. Excellent post.

Yes.

What's it doing on here.!

[Gloucester_R]

As I predicted early this year Tony will step down at the start of the new season, after the annual conversion of loans and interest to shares has taken place. Tony's ownership stake is less than 5% now and it makes no sense for him to be much involved from a financial point of view. Ruben and Tony have been co chairmen, a quite unusual practice. Ruben is now owning around 90% and I find this latest statement a quite natural one. We don't need more than one chairman.

I think we have taken a number of good decisions the last couple of years, and I think these are down to Ruben.

I will thank Tony for his contribution and all the money he has invested, but his time with QPR has regrettably been a disaster, and it will take another three years at least to sort it out (the huge loss of 2017/2018 has financial implication for the how much we can spend the coming two seasons). He has tried his best and he deserves a lot of respect for trying, but it never worked out for him. However, he comes across as a genuinely nice bloke and I wish him a lot of success with Air Asia. He is a much better airline investor than a sport investor.

I think we are in good hands with Ruben, Hoos and Les.

100% agree

[Shania]

With a new consortium coming in?

[Hubble]

This is incredibly selfish Clearly he hasn't thought it through. I mean, who is Hits going to blame for everything now?? The poor bloke will suffer massive withdrawal symptoms and it could get messy on here. Fernandes, if you really care about the fan, stay, otherwise we'll have to deal with the meltdown.

[Hitman34]

Ginge you farker....... Seriously though, just wish to thank bungle for the change of badge, it cost him 300mil but it was worth every penny. Thanks bungle.

[Hitman34]

Just noticed it was not Ginge but Hubble. Cheeky bugger lol

[brightonr]

This is incredibly selfish Clearly he hasn't thought it through. I mean, who is Hits going to blame for everything now?? The poor bloke will suffer massive withdrawal symptoms and it could get messy on here. Fernandes, if you really care about the fan, stay, otherwise we'll have to deal with the meltdown.

My guess is he’ll turn his attention to the tfl passenger info e-mail service.

Christ !! The amount of upset that caused yesterday.