It is thought that preliminary discussions have taken place between Fernandes and the owners of the club, which was promoted to the English Premier League last season.
QPR co-owner Bernie Ecclestone, who holds a 62 per cent shareholding in the club, has previously said he would be willing to sell his stake for US$165 million (£100 million). It is thought that Ecclestone's business partner, Flavio Briatore, has an option to buy the shares should Ecclestone want to sell.
Briatore and Formula 1 supremo Ecclestone purchased the club in September 2007. The club's other shareholder is steel magnate Laskshmi Mittal.
It is now understood the Ecclestone and Briatore have given the high-profile Fernandes the go-ahead to purchase the club.
The football club made losses of US$30.9 million in 2008-2009 and US$22.5 million last year.
Fernandes, who is also the Team Lotus F1 boss, is has previously claimed he made an offer to buy West Ham United.
QPR said it did not comment on speculation. Fernandes was unavailable for comment.
This article was first published on marketingmagazine.co.uk
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