Mittal has topped The Sunday Times Rich List for three years

Reports have linked the steel magnate, who has an estimated �19.25bn personal fortune, with a possible takeover bid.

A spokesman told BBC Sport: "We have no comment" but added reports of Mittal's interest were "highly speculative and contain no concrete facts".

Birmingham City are already in talks with one potential buyer, believed to be a Far East-based businessman.

The club confirmed the approach in a statement to the Stock Exchange on 11 June, but said "discussions are at a very preliminary stage".

LAKSHMI MITTAL FACTFILE Born 15.6.50, Rajasthan Educated: St Xavier's, Kolkata Worked in family steel business until going alone in 1994 Moved to London 1995 Merged Mittal & Arcelor in 2006 Estimated wealth: �19.25bn Named FT Man of Year 2006

They are the latest Premiership club to attract foreign investors, following takeovers at Chelsea, Manchester United, Aston Villa and Liverpool.

Mittal, 56, who lives in London, is the fifth richest man in the world and twice as wealthy as Chelsea's Russian owner Roman Abramovich.

His rocketed up the rich list last year when he merged his Dutch-based Mittal Steel with Arcelor of Luxembourg to create a massive conglomerate.

The firm employs 330,000 people in 60 countries and accounts for 10% of global steel production. In the three months to 31 March, its net income rose 40% to �1.13bn.

Birmingham City could cost any potential buyer up to �70m, but Mittal paid nearly �60m in 2003 for his palatial home in Kensington Palace Gardens.

He is also believed to have spent around �34m on five days of lavish celebrations to mark the marriage of his daughter Vanisha in 2004.

Birmingham were promoted as last season's Championship runners-up with their accounts in the black.

They are also in talks over the development of a new City of Birmingham Stadium and Sports Village at Saltley.