Saudi Arabia's Prince Abdullah in talks to take full control of Sheffield United

Sport360 staff 23:53 08/02/2018
  • Facebook
  • Twitter
  • Mail
  • Pinterest
  • LinkedIn
  • Facebook
  • Twitter
  • WhatsApp
  • Pinterest
  • LinkedIn
  • Saudi Arabia's Prince Abdullah (l)

    Sheffield United co-owners Kevin McCabe and Abdullah Bin Mosa’ad Abdulaziz Al Saud are in talks over the Saudi Arabian prince taking full control of the club.

    Prince Abdullah became joint-owner of the Blades in September 2013, ending McCabe’s long search for an investor. The prince served notice of his intention to buy the remaining 50 per cent of the McCabe family’s shares at the end of last month.

    “His Royal Highness Prince Abdullah Bin Mosa’ad Abdulaziz Al Saud and Kevin McCabe are in discussions regarding the transfer of ownership and control of Sheffield United football Club to the prince,” said a statement on the Blades’ official website.

    “Sheffield United football Club is part of the Blades Leisure Limited group, a joint venture between Sheffield United Limited, controlled by the McCabe family, and companies controlled by the prince.

    “Ownership of Blades Leisure Limited is governed by an Investment Agreement dated August 30, 2013, which provides for the transfer of control of Blades to the prince.

    “In response to a process commenced by Sheffield United Limited, on January 26, 2018 UTB LLC, a company controlled by the prince, served a notice exercising an option to purchase the remaining 50 per cent of Blades Leisure from Sheffield United Limited.

    “Both parties are currently in negotiation with regard to the remaining provisions in the Investment Agreement and hope to come to a final settlement in the near future.”

    The club said the takeover would have no impact on the club’s staff. McCabe joined the Blades’ board in 1993, left soon after and returned in 1995 before effectively taking control at Bramall Lane in 1999.

    The Blades were promoted as League One champions last season under manager Chris Wilder and are currently eighth in the Championship, five points off the play-off places.

    Recommended