Thursday, October 8, 2009

Lakshmi Mittal tops football rich list

S Kalyana Ramanathan / London October 8, 2009,

ArcelorMittal’s boss and India-born steel billionaire, Lakshmi Mittal has topped the Football Rich List 2009-10 as ranked by football magazine

According to this British magazine, 59-year-old Mittal, who bought a 20 per cent stake in Queens Park Rangers Football Club for £200,000 in December 2007, is considered the wealthiest man among football club owners, with an estimated value of £18.4 billion at his command. With the stake acquisition in the QPR FC, Mittal made his foray into the club owners group two years earlier.

The wealth estimate of Mittal is based on his stake in the steel giant, valued at £15.4 billion, and “another £3 billion for past dividends and property”, the magazine’s website has said. Mittal’s son-in-law Amit Bhatia sits on the board of QPR as its vice chairman.

With the latest ranking, Mittal effectively replaces Sheikh Mansour bin Zayed Al Nahayan, (brother of Abu Dabhi’s ruler) whose wealth is now estimated at £17 billion and owns Manchester City FC.

FourFourTwo is a monthly English football magazine that started in 1994 and has a circulation of 112,000 copies a month. It derives its name from the basic formation in British football (4-4-2), with 11 players on each side.

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