Kevin McCabe has revealed he rejected a lucrative offer for his stake in Sheffield United before inviting Prince Abdullah bin Mosaad to become co-owner of the League One club, writes James Shield.
Although McCabe declined the name the individual who, six years ago, offered “considerable sums of money” to take charge at Bramall Lane, he recently confirmed troubled Hong Kong businessman Carson Yeung had previously expressed an interest in purchasing United.
“In 2007 I could have concluded a deal,” McCabe said. “A letter of intent was signed, not by me but the other party, to take control of Sheffield United at a figure which, to me personally, would have been massively beneficial.
But after sleeping on it - I never make big distinctions instinctively - I knew it was wrong for United so I turned down the offer. On reflection it was the right thing to do.”
Prince Abdullah, a former president of Saudi Arabian giants Al-Hilal, agreed to make a multi-million pound investment in United’s first team squad after buying 50 per cent of its parent company for £1.
McCabe added: “I have been looking for partner investors for some years. By choice, it would have been nice if I could have found partner investors in Sheffield.
“The truth is, though, the world has changed. The western nations of the European continent are not the wealth of the world anymore, it’s the Far East, Middle East, parts of Africa.
“I looked at who owns Manchester United? Americans. Chelsea? Russian. Aston Villa? American, Arsenal Americans and Russians. You look at the clubs who have moved upwards and generally speaking they have all become global.
“On my travels, and because my business takes me to the Far East in particular, it has always been in mind to find an international partner.
“Someone who I can educate on the background of our club, but also he or she, or it, can bring benefits to Sheffield United. Benefits in experience, not just financial.”