Mittal investment boosts R's
20 Dec 2007 - 14:52:23
Queens Park Rangers have received a major cash investment after Indian steel magnate Lakshmi Mittal purchased a 20 per cent share in the Championship club.
Mittal, the world's fifth richest man, will join Formula One supremos Bernie Ecclestone and Flavio Briatore on the board at Loftus Road through his representative and 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," read a club statement.
"The new capital being invested in QPR will help fund the programme that is needed to help us achieve this target."
Bhatia added: "The family is excited about becoming involved with Queens Park Rangers Football Club.
"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."