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OFF THE POST: Teen spends fortune on dream of helping Preston reach EPL
August 16th, 2007 7AM

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An English teenager bought more than 200,000 shares worth $600,000 in English club Preston North End, making him the fourth-largest shareholder in the Championship League (second level) club.

Hussain Patel, 18, is the son of multimillionaire Arif Patel. He bought his 6.5 percent stake in the club from its former chief executive Steve Jackson.

"We are going to discuss that as a family, as we discuss all our investments, but it will definitely be up for consideration," said Patel, "At the moment, I am looking to be a silent shareholder and any decision we take to invest in the football club, we will take as a family. It is definitely something I am interested in doing, though."

According to Jackson, Patel agreed to pump another $4 million into the club if other shareholders contributed an equal amount. Patel's goal is to seen Preston, one of the most ambitious clubs in the Championship League, earn promotion to the Premier League.

Arif Patel is believed to be worth more than $200 million thanks to family real estate holdings.



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