Sheffield United ownership battle draws to a close but final ruling not due for weeks
The battle for ownership of Sheffield United is due to draw to a close this week, with both sides delivering their closing arguments.
Co-owners Kevin McCabe and Prince Abdullah Mosaad Bin Abdulaziz Al Saud own equal shares in the newly promoted Premier League football club but have clashed over the terms of a buyout provison in the initial agreement drawn up by both parties in 2013.
Both Mr McCabe and Prince Abdullah own 50 per cent of the club after Sheffield-born former club chairman, Mr McCabe, 71, met the Saudi prince in 2013 when he was looking for an investor in the Blades after investing £100 million of his own cash over 12 years.
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Prince Abdullah invested £10m in 2013 but in 2017 the relationship between the co-owners faltered, with Mr McCabe said to have been frustrated that the prince did not have the funds he claimed to.
The dispute centres around which of the two men can take control of the club and on what terms.
Mr Justice Fancourt, sitting at the High Court in London, will rule later this year between SUL, a company owned by Mr McCabe and his family, and Prince Abdullah’s UTB company.