Prince Abdullah completes property purchase, officially confirming his ownership of Sheffield United

HRH Prince Abdullah bin Musa’ad bin Abdulaziz Al Saud has promised “more good news soon” after completing the purchase of Sheffield United’s property assets from a company controlled by former co-owner Kevin McCabe.

Wednesday, 1st July 2020, 6:30 pm
Updated Wednesday, 1st July 2020, 6:30 pm

As The Star predicted earlier today, the transfer of sites including the Steelphalt Academy, stadium hotel and Bramall Lane itself was completed before the July deadline set by Mr Justice Fancourt following last year’s High Court battle for control of the Premier League club.

The amount paid to acquire the sites, set following an arbitration process, remains undisclosed.

“Sheffield United Football Club Limited is very pleased to announce that with effect from 1st July 2020, it is the new owner of the Bramall Lane stadium, the Shirecliffe training facility, the hotel, the enterprise centre and the Crookes junior academy, “ a statement, confirming the transaction had taken place, read. “The reunification of the properties back into the ownership of the club is an important step in the long-term strategy announced by H.R.H. Prince Abdullah to reclaim ownership of key assets and to improve these assets.”

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McCabe, who until losing his tug-of-war with the Saudi royal was the longest serving member of United’s hierarchy, split the property interests from the club in order to make it more attractive to investors. He granted Prince Abdullah a 50 per cent stake in United seven years ago in return for certain financial guarantees. But when their relationship deteriorated, the pair became embroiled in a legal battle which culminated with the 55-year-old becoming United’s sole owner; on the proviso he bought the properties outlined.

Prince Abdullah said: "When I assumed sole ownership of the club nine months ago, I committed myself to preserving the club's heritage, upgrading the club's physical assets and improving the fan experience. The Covid-19 pandemic has certainly brought unexpected challenges but we remain dedicated to our original strategy and bringing the stadium and other properties under the ownership of the club is an important step in executing on this strategy. We now look forward to capitalising on this important step as we establish the Blades in the Premier League. We'll have more good news soon."

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Chris Wilder manager of Sheffield United shakes hands with owner H.R.H. Prince Abdullah after signing a new four and half year contract before the Premier League match at Bramall Lane, Sheffield. Picture date: 10th January 2020. Picture credit should read: Simon Bellis/Sportimage