Sheffield United: Co-owners meet for top level talks
Sheffield United's co-owners have met to discuss their rival takeover bids.
The Star understands Kevin McCabe and HRH Prince Abdullah bin Musa’ad bin Abdulaziz Al Saud sat down earlier this week in an attempt to break the four month impasse which has complicated the club’s plans for next term.
Although the location and timing of their conclave remains a closely guarded secret, it is believed to have taken place at a neutral venue on either Monday or Tuesday.
United revealed in February that Prince Abdullah had launched an attempt to take sole control of United “in response to a process” commenced Sheffield United Limited; a company controlled by McCabe. That is thought to have been an attempt to purchase the Saudi royal’s own 50 per cent stake in United’s parent company Blades Leisure Limited (BLL).
Ownership of BLL is governed by an investment agreement the two men signed in August 2013. Prince Abdullah must purchase various freehold and leasehold interests, including the training complex and Bramall Lane itself, to push through his bid, while McCabe is also battling for control.
Although the statement United published to confirm negotiations were taking place sought to reassure “everyone connected to the club that the current negotiations and transfer of ownership will have no impact on the club’s management and its staff”, manager Chris Wilder recently called for the matter to be “quickly” resolved.
United, who won the League One title in 2017, finished 10th in the Championship last season and remained in play-off contention until the penultimate match of the campaign.