A member of Saudi Arabia’s royal family, Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, has bought a 50 per cent stake in Sheffield United’s parent company for £1, The Star can reveal.
In return the 47-year-old has agreed to provide “substantial new capital” designed to help the club return to the Premier League “as quickly as possible.”
Plc chairman Kevin McCabe refused to reveal the exact sums of money involved but recently described them as being a potential “game-changer.”
Prince Abdullah said: “I am delighted to invest in such a sensibly-organised, family and community club with a great history and heritage. Joining Sheffield United at a time close to its 125th year in existence is significant to me and, like Kevin, I am determined to see it achieve its goals and look forward to working with the whole Blades community.
“However, money will be spent judiciously, and in any case we must comply with the Salary Cost Management Protocol.”
United, who return to League One action at Rotherham this weekend, recently split their property and sporting portfolios meaning Prince Abdullah’s investment will be used to improve David Weir’s squad although other redevelopment projects could be brought forward as a result.
Florent Cuvelier, previously of Stoke City, yesterday signed a three year contract at Bramall Lane while centre-forward Harry Bunn completed his youth loan from Manchester City.
Talks aimed at securing Leon Clarke’s release from Coventry City were on-going ahead of last night’s 11pm deadline. United could also resurrect their interest in City’s Callum Wilson when the transfer market reopens later this term despite being quoted what a source in the Midlands labelled “a prohibitive asking price” for the promising young striker.
McCabe said: “We are thrilled to be building this new partnership for Sheffield United with Prince Abdullah who shares our vision to join the top tier of English football. The McCabe family remains wholly committed and over the past decade has invested more than £90 million in our fine and proud football club.”