View Full Version : Premiership Clubs,The new Status symbol?

June 13, 2007, 02:48 PM
And you though Chelsea is Rich?

You might Find within 2-3 months that one of the most Low profile clubs might snatch the richest owner title.

Mittal eyeing Birmingham?
The Independent

A Russian set the trend, numerous Americans followed and yesterday an Indian emerged as the latest billionaire to show an interest in taking over a Premiership club when Lakshmi Mittal - the world's fifth-richest man - became a contender to buy newly promoted Birmingham City.

The steel magnate, who is worth £19.25bn, has made an inquiry about the possibility of taking over the club from David Sullivan and David and Ralph Gold, and with that sort of wealth behind them Birmingham could contemplate a season aiming for Europe rather than fighting relegation.

Mittal, who is based in Great Britain, has not so far followed up his initial interest in the club, who have become a more attractive commodity after their return to the Premiership. City are already the subject of interest from an unknown Far East businessman, who is planning to make a formal bid later in the week if auditors are satisfied after completing due diligence. But the 56-year-old Mittal, who last year bought Arcelor, the world's second-biggest steelmaker for £17.8bn, is maintaining a watching brief.

Mittal has twice the fortune of the Russian Chelsea owner, Roman Abramovich, and more than the American Glazers can boast at Manchester United, and Sullivan and the Golds, who would sell for around £50m, would be keen on a quick sale if their time at the club is to end after 14 years.

Steve Bruce, the manager, has had a joint bid of £5m for West Bromwich Albion's Diomansy Kamara and Jason Koumas rejected. Fulham made an undisclosed, bid for the pair but that was also turned down.

So the clubs are now becoming the new status symbol in the world of Billionaires,who knows when Bill gates will buy one?

Kudos to the english marketing policy.