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Oct 12, 2018
The 18-year-old son of one of Lancashire's richest men has bought into Preston North End.
Hussain Patel, the son of multi-millionaire Arif Patel, bought the 6.53% stake in the city's football club, from former chief executive Steve Jackson in a deal worth more than £300,000.
The deal makes the Lancaster Royal Grammar School student, the club's fourth-largest shareholder.
Chairman Derek Shaw, said: "We welcome the Patel family.
"I have know Arif for 30 years as a shareholder, and he has many successful local businesses.
However, he ruled out the possibility of new investment in the club.
He added: "At this stage there will be no new investment in Preston North End.
"The shares have been purchased off Steve Jackson, and the funds from the purchase will go to him."
The Patel family, own a number of properties and businesses across the country and have an estimated fortune of £105m.
Article source: https://article-realm.com/article/Arts-Entertainment/Humanities/28197-Son-Of-One-Of-Prestons-Richest-Men-Arif-Patel-Has-Bought-Into-PNE.html
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