You wont believe this
- Thread starter Fronty
- Start date
Britain's richest man invests in Queens Park Rangers soccer club
LONDON (AP) -The family of the richest man in Britain, steel magnate Lakshmi Mittal, has bought a 20 percent stake in League Championship soccer club Queens Park Rangers.
The club, which was taken over by Formula One chief Bernie Ecclestone and Renault team boss Flavio Briatore in November, did not disclose the sum paid for the stake.
Mittal will be represented on the club's board by his son-in-law Amit Bhatia.
"This investment in QPR by the Mittal family is a great stepping stone towards the future development of the club and supports the ambition of the current shareholders to reach the Premier League in the near future,'' the club said in a statement. "The new capital being invested in QPR will help fund the program that is needed to help us achieve this target.''
Italian coach Luigi De Canio was appointed in October but the club is currently last in the 24-club league, which is one tier below the Premier League. Despite that, Bhatia said the family was excited about the club's prospects.
"As a family, we love sport and particularly enjoy English football, and alongside Bernie and Flavio, we hope that we can improve the club's performance, with the ultimate ambition of a place in the Premier League,'' Bhatia said.
Mittal was ranked the fifth-richest man in the world this year by Forbes magazine, which estimated his worth at US$32 billion (?22.3 billion) in August.
Chelsea owner Roman Abramovich was ranked 16th on the Forbes List. Chelsea is located just 5.6 kilometers (3.5 miles) from Queens Park Rangers in West London.
In 2004, Mittal bought a residence from Ecclestone in Kensington, London, for 70 million pounds.
LONDON (AP) -The family of the richest man in Britain, steel magnate Lakshmi Mittal, has bought a 20 percent stake in League Championship soccer club Queens Park Rangers.
The club, which was taken over by Formula One chief Bernie Ecclestone and Renault team boss Flavio Briatore in November, did not disclose the sum paid for the stake.
Mittal will be represented on the club's board by his son-in-law Amit Bhatia.
"This investment in QPR by the Mittal family is a great stepping stone towards the future development of the club and supports the ambition of the current shareholders to reach the Premier League in the near future,'' the club said in a statement. "The new capital being invested in QPR will help fund the program that is needed to help us achieve this target.''
Italian coach Luigi De Canio was appointed in October but the club is currently last in the 24-club league, which is one tier below the Premier League. Despite that, Bhatia said the family was excited about the club's prospects.
"As a family, we love sport and particularly enjoy English football, and alongside Bernie and Flavio, we hope that we can improve the club's performance, with the ultimate ambition of a place in the Premier League,'' Bhatia said.
Mittal was ranked the fifth-richest man in the world this year by Forbes magazine, which estimated his worth at US$32 billion (?22.3 billion) in August.
Chelsea owner Roman Abramovich was ranked 16th on the Forbes List. Chelsea is located just 5.6 kilometers (3.5 miles) from Queens Park Rangers in West London.
In 2004, Mittal bought a residence from Ecclestone in Kensington, London, for 70 million pounds.
Here we go...Doesn't take you long does it?! Not even a sniff of a bit of investment and you're in there like a shot
I give it 6 months before you reveal your qpr4eva tattoo!
Here we go...Doesn't take you long does it?! Not even a sniff of a bit of investment and you're in there like a shot
ALREADY HAVE ONE,GOT IT DONE THE MINUTE I HEARD THIS NEWS
Morbyd
Moderator
First week of January indeed... will be interesting to see what's going on up in the boxes with Mittal (who owns a box at Chelsea) and Bernie (who's friends with Roman and often attends Chelsea matches)