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Rediff.com  » Business » Mittal takes stake in UK soccer club

Mittal takes stake in UK soccer club

December 21, 2007 14:01 IST

Queen's Park Rangers, the Championship football club co-owned by two of the billionaires behind F1, on Thursday welcomed one of the world's richest men into its fold when Lakshmi Mittal bought a 20 per cent stake, writes Roger Blitz.

The Indian-born chief executive of ArcelorMittal, the world's biggest steelmaker, will install Amit Bhatia, his son-in-law, on the board.

Mr Mittal, named by Forbes magazine as the world's fifth-richest man, with a net worth of $32bn, was introduced to the club by Bernie Ecclestone, the F1 supremo who this year took over QPR with Flavio Briatore, managing director of Renault's F1 team

Roger Blitz