Team Lotus boss to buy Ecclestone’s QPR stake

Yet another F1 name is being linked with Queens Park Rangers (QPR), the London football club that will contest the 2011-12 Premier League.

The Financial Times (FT) and The Observer report that Tony Fernandes, owner and team principal of Team Lotus, is set to buy 51 per cent of the club from F1 chief executive Bernie Ecclestone.

Ecclestone, 80, is said to be selling the remaining part of his 62 per cent stake to steel billionaire Lakshmi Mittal, with an announcement possible on Monday.

FT said Malaysian Fernandes, who earlier expressed interest in buying the London club West Ham United, "is close to finalising a deal" for QPR.

The report said former Renault boss Flavio Briatore, who watched QPR lose to Bolton Wanderers on Saturday whilst sitting alongside Fernandes, may retain his small stake.

Ecclestone reportedly did not return calls on Sunday.

A source close to Fernandes said: "Until the deal is done (it) is not done. But we are hopeful that by Monday it could be complete."