Sheffield United: Kevin McCabe reveals he has not yet been ordered to give up 50 per cent stake in club
Kevin McCabe has today revealed he has not yet been ordered to give up 50 per cent stake in Sheffield United following yesterday’s High Court hearing in London.
Mr Justice Fancourt yesterday sided with Prince Abdullah in the bitter battle for control of the Blades, after almost two years of litigation following the breakdown of the relationship between the Saudi Prince and McCabe.
McCabe suggested in a statement that he will strongly consider an appeal of the ruling, while Prince Abdullah said in a statement he was “delighted that this judgement brings to an end the uncertainty over Sheffield United's future”.
The Prince’s statement added: Our manager Chris Wilder and the team are off to a promising start and we can now focus on this vital Premier League season under stable ownership."
But today, another statement – issued on behalf of the McCabe family – read: “The Judge has not yet given reasons for his decision but we had asked our legal team to provide full protection for the McCabe family pending appeal such that any transfer should not be unconditional. We will obviously abide by any order that the Court may make, but are concerned that Prince Abdullah does not run amuck with the club’s finances while we are seeking to pursue an appeal. Regrettably the Prince’s financial position is far from secure based on the evidence that emerged at the trial.
“The case continues to a further hearing on 14th October 2019 when the Court will consider whether and if so on what terms the McCabes should transfer their shares to Prince Abdullah.”
McCabe’s statement added: “Kevin McCabe has deep misgivings about Prince Abdullah and his suitability to take full control of the finances of the football club. These misgivings are shared by the entire family.”
McCabe is quoted directly as saying: “I hear that Prince Abdullah is saying that he has won and that the Court has ordered me to transfer our shares to him and that he is now the sole owner of the club. Prince Abdullah won part of the case, the Judge however found for the McCabes in relation to Prince Abdullah’s devious plan to evade the Shareholders’ Agreement.
“Neither is it strictly correct to say that the Court has ordered us to give up our shares in Sheffield United. It is true that at some stage we shall have to cede control to Prince Abdullah, but as matters stand no such order has been made and we are very carefully considering an appeal which, if successful, would result in the reversal of the Judge’s order in whole or in part.
“Yesterday afternoon, it seems that the Judge has thought that some protection might be appropriate or us in the event that we were to win an appeal. The McCabe family also remain the owners of the Stadium and associated real estate.”