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Tuesday, April 01, 2008

Snippets II: Lakshmi Mittal's QPR Involvement

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Khaleej Times - itain sees biggest ever Indian take-away By Tusdiq Din (Letter from the UK)
"THE rise of India as a global economic superpower goes from strength to strength. With Indian companies now routinely called on for IT, commerce and industrial expertise, the purchase of two distinctly British motoring marques from the Ford motor company, namely Jaguar and Land Rover by the Indian conglomerate the Tata Group should come as no surprise....
....Another high profile Indian business concern has also been in the news this week, with the world's fifth richest man Lakshmi Mittal cementing his involvement at the west London football club Queens Park Rangers. Along with Formula 1 supremo Bernie Ecclestone and Renault racing team owner Flavio Briatore, Mittal is now an owner and director of QPR holdings, and has appointed his son-in-law Amit Bhatia as the club's vice-chairman to oversee the steel magnates' 20 per cent stake in Rangers.
The ever smiling Bhatia was happy to do the media rounds as QPR look set to announce a major future club shirt sponsor, and also unveil stadium development plans and the upgrading of facilities as Rangers attempt to gain promotion to the Premier League from the second tier of English football come next season.
Mittal's investment and that of his Formula 1 associates has made QPR the richest club in the UK, to the dismay of fellow west London club Chelsea, where the controversial Russian billionaire owner Roman Abramovich has seen tangible on field success, courtesy of his seemingly endless financial reserves, the likes of which Mittal would surely welcome.
However, it is not known at this stage whether, the Mittal family have any plans of tapping into the potentially huge pool of Indian footballing talent, but given the global presence of all things Indian, that prospect too may soon come to fruition. Khaleej Times

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