Walker deal revealed in latest set of accounts

Prince Abdullah bin Mosaad meets the fans � BLADES SPORTS PHOTOGRAPHY
Prince Abdullah bin Mosaad meets the fans � BLADES SPORTS PHOTOGRAPHY
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Sheffield United inserted sell-on clauses into the deals which saw Kyle Walker and Kyle Naughton join Tottenham Hotspur five seasons ago, The Star can confirm.

Details about the arrangements, which are believed to guarantee United 10 per cent of any future transfer fee, emerged after the League One club reported annual losses have been significantly reduced in its latest set of accounts.

United, who unveiled Saudi Arabian businessman Prince Abdullah bin Mosaad as their new co-owner earlier this term, also cut player wages by £4.1m while trading, including the sales of Matt Lowton, Nick Blackman and Walker, contributed to £3.1m of profit.

“Alongside the needed restructuring of football management and attention to players’ salaries,” director Scott McCabe said, “Was the very exciting arrival of our new partner Prince Abdullah. His investment, which falls outside this financial reporting period, is concentrated primarily on improving first team football.”

“The revised co-ownership will see an adjustment of how the performance of the club is recognised,” McCabe added. “The McCabes will continue to aid certain liabilities of Sheffield United leaving the reorganised football club in a highly desirable debt-free position which could not have been achieved without more sacrifices from the McCabe family.”

United, who reduced losses to £4.6m compared to £13m in 2012, hope to re-register as a private limited company at next month’s AGM. The move is designed to make further cost savings.

For the 2012/13 season, United generated turnover of £8.9m (£10.3m in 2012). Gate receipts were down from £4.5m to £3.7m while television income and prize money was down £0.2m to £1.2m.

“Our fans continue to be an inspiration to all at the club,” said Mr McCabe. “They still continue to turn up home and away in great numbers. Fans and shareholders alike all know our club deserves the rub of the green which for whatever reason has eluded us for too many years.

“However, we do not give up, maintaining the drive and ambition to succeed in spite of frustrating setbacks and, believe me, success on the field will be achieved in the not too distant future.”