The Football League no relation Tony Fernandes
Flavio Briatore's future as QPR chairman came into question in September 2009 after he left the Renault F1 team in the midst of race fixing allegations. The Football League board discussed the matter on 8 October 2009 and declared that they would be awaiting a response from Briatore to various questions before commenting further. Meanwhile, the club continued to make losses (£18.8m in 2008–09 and £13.7m 2009–10). Briatore sold his 62% share to Ecclestone in December 2010, with the Italian possibly retaining a right of first refusal should Ecclestone sell, and initially stepped back from the day-to-day running of the business in favour of Amit Bhatia and Ishan Saksena, the company chairman and managing director respectively. However, his involvement gradually returned, and conflicts between Briatore on the one hand and Bhatia and Saksena on the other resulted in both Bhatia and Saksena leaving QPR in May 2011.On 18 August 2011, Malaysian businessman Tony Fernandes was unveiled as the majority shareholder after having bought out Ecclestone's 66 percent stake in the club for a rumoured fee of around £35 million, while the Mittal Family retained their 33% stake. Amit Bhatia was restored to his position as vice-chairman. Phillip Beard was announced as the new chief executive of the club and Gianni Paladini removed as club chairman. Briatore and Ecclestone were no longer involved with the club, with no board representation or other financial ties. Bhatia also explained in the takeover announcement that the loan, representing the refinanced ABC Corporation debt secured using the stadium as collateral, had now been "bought off" by the new regime – that is, refinanced by new debt. It is thought that the current debt is represented by a shareholder loan to the club and is non-interest-bearing. Despite the club's fortunes in attracting investors, it continues to be mired in controversy from previous ownership regimes and has been subject to proceedings from former investors Carlos Dunga and Antonio Caliendo.On 15 August 2018, Bhatia took over as chairman of the club.
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