Sheffield United: Kevin McCabe prepares to address shareholders

Kevin McCabe has called a shareholders' meeting ahead of Saturday's game against Liverpool, after his fellow co-owner and former business partner HRH Prince Abdullah bin Musa'ad bin Abdulaziz Al Saud wrestled control of Sheffield United.

Sunday, 22nd September 2019, 12:50 am
Updated Friday, 27th September 2019, 7:00 pm
Kevin McCabe (right): Scott Merrylees
Kevin McCabe (right): Scott Merrylees

The event is ostensibly designed to provide an update on events behind the scenes at Bramall Lane following last week's ruling at the High Court. But McCabe, who will attend alongside his sons Scott and Simon, could also use it to shed light on whether or not he plans to appeal Mr Justice Fancourt's verdict, which effectively ends his two decade long dynasty at the Premier League club.

"You may be aware of press coverage principally concerning the ownership of The Sheffield United Football Club Limited and...the published judgement," a letter, signed by Sheffield United Limited (SUL) director Jeremy Tutton, states. "As far as it is practical, the board of directots believe it appropriate that our shareholders are entitled to be brought up to date concerning these important ownership matters."

Significantly, the briefing is scheduled to take place at the Copthorne Hotel which, together with the Steelphalt Academy and Bramall Lane itself, still feature on McCabe's property portfolio. Under the terms of his agreement with the Scarborough based businessman, Prince Abdullah must acquire both the stadium and training complex before next summer, or break the terms stipulated by the judge.

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SUL is the vehicle McCabe uses to represented his interests in United's parent company Blades Leisure Limited (BLL). Prince Abdullah's stake is held by ones called UTB and UTB 2018, with the latter's creation one of the causes of his dispute with McCabe. It's existence meant UTB did not cross the 75 per cent threshold which would have obliged the Saudi Arabian to immediately purchase United's ground upon becoming sole-owner. McCabe has yet to transfer his shares in BLL after being granted permission to retain them while he takes legal advice.

"Accordingly, Kevin McCabe would like the address shareholders at an informal forum which is supplementary to the usual Annual General Meeting, and quite separate from an Extraordinary General Meeting, since there are no resolutions being put forward which will require a poll of votes," Tutton's communique, which is labelled 'confidential', continued. "To that end, you are cordially invited to attend a get-together of the shareholders on Saturday 28th September 2019 to be held in the Copthorne Hotel at 8.30am."

Advising SUL shareholders they must bring "this original letter in its original envelope" to gain entry, Tutton said former England internal Tony Currie, who resigned as a United director in the wake of Prince Abdullah's victory, will also attend alongside the McCabes.

"I trust you will welcome this initiative and find it informative," Tutton added.