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Mittal Family Buys 20% Share in Queens Park Rangers, Club Says

The family of Lakshmi Mittal, chief executive of steelmaker ArcelorMittal, bought a 20 percent stake in Queens Park Rangers, the west London soccer club at the bottom of England’s second-tier Championship, the team said.Mittal, 57, is listed by Forbes magazine as the world’s fifth-richest man with personal wealth of 26 billion pounds ($51.8 billion). ArcelorMittal, based in Luxembourg, is the world’s biggest steelmaker.

He was introduced to QPR by another billionaire, the club’s co-owner, Bernie Ecclestone, who runs Formula One racing. Ecclestone bought the club in September with Flavio Briatore, managing director of the Renault Formula One team, and investment company Sarita Capital Inc. They paid 1 million pounds and assumed 13 million pounds of debt.

“Queens Park Rangers Football Club is delighted to announce today that the Mittal family has taken a 20 percent shareholding in QPR Holdings Ltd.,” a statement on its Web site said.

Financial terms weren’t disclosed.

Mittal’s son-in-law, Amit Bhatia, joined the board of the club, the team said. Calls to Bhatia’s office in London weren’t answered. Club spokesman Paul Morrissey declined to comment beyond the statement.

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