Fernandes, who ploughed millions of pounds (dollars) into QPR in a bid to keep them in the Premier League, said he had no interest in owning bigger clubs like Liverpool or Arsenal as that would mean "buying someone else's success".
Redknapp, who was also relegated from the top-flight with Southampton in 2005, couldn't save QPR from the drop in 22 league games in charge this term, in which they won just 21 points, after replacing the sacked Mark Hughes.
QPR are currently fifth points adrift of safety at the bottom of the table in the English top flight and were dumped out of the FA Cup after losing 4-2 at home to third-tier Milton Keynes Dons on Saturday.
Malaysian tycoon Fernandes sacked Hughes last month after QPR failed to win any of their first 12 matches and immediately moved for Redknapp.
Mark Hughes was dismissed as head coach of Queens Park Rangers on Friday, with the club bottom of the Premier League table after failing to win any of their first 12 matches of the season.
Caterham boss Tony Fernandes has thrown his support behind a sale of shares in Formula One and called for tighter cost controls to make the sport more affordable.
Queens Park Rangers owner Tony Fernandes on Saturday criticised the lengthy adjournment of John Terry's racial abuse court case as the furore continues to hang over his club.
Formula One's Sahara Force India has been ordered to stump up 850,000 euros in unpaid fees to an aerodynamics company after a long-running court case.
The Caterham Formula One team has followed its signing of Russian driver Vitaly Petrov for next season by bringing in Russian petrochemical company Sibur as a sponsor.
Russian driver Vitaly Petrov is replacing Jarno Trulli at the Caterham Formula One team.