Malaysian entrepreneur Tony Fernandes is to buy a 66% stake in QPR, BBC Sport has learned.
The Premier League club is set to announce the deal on Thursday.
Fernandes is buying his shares from Bernie Ecclestone and Flavio Briatore, while Lakshmi Mittal will retain his 33% stake in the west London club.
AirAsia boss Fernandes - who owns the Team Lotus F1 outfit and failed in a previous bid to buy West Ham - attended the 4-0 defeat by Bolton on Saturday.
- Birthplace: Kuala Lumpur, Malaysia
- Age: 47
- Business interests: AirAsia, Tune Group, Team Lotus F1
BBC Sport understands that manager Neil Warnock will be given money to spend by the new board and that the manager, who led Rangers to promotion last season, has their full backing.
It is believed the new owners are targeting Premier League survival this season, although relegation would not be sees as a disaster as the new owners view the club as a long-term project.
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