'Sheffield United could cost around £200m to takeover,' MP's select committee is told

Giving evidence to the Digital, Culture, Media and Sport select committee earlier today, Parry was asked how much it would cost to acquire a team in the Championship by one of its members.

Framing his question with particular reference to events at Bramall Lane, where Mmobuosi’s proposed purchase is still being scrutinised by the EFL, Kevin Brennan MP asked Parry: “If I were buying a Championship club right now, how much money would I have to show you I have in order to do that?” Parry replied “It would depend on the club,” with Brennan then responding: “Let’s say Sheffield United.” That prompted an intriguing and revealing admission from Parry, who was later pressed by Brennan on reports that Mmobuosi and United’s present owner Prince Abdullah bin Musa’ad bin Abdulaziz Al Saud have agreed a fee “in the range” of between £70m and £90m for the Saudi Arabian’s shareholding.

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“On one hand, we are talking about a club that’s in receipt of parachute payments and on another, a club that is aspirational and clearly desperate to get back into the Premier League,” Parry said. “You are talking tens of millions of pounds.”

“We would generally be looking between a season and two seasons’ worth of money to show the club is sustainable,” Parry added, when asked to clarify what other evidence the EFL would demand before greenlighting a change of ownership. “If you look at clubs in the lower reaches of the division - let’s say Preston, purely because the owner there has been very public and very transparent in terms of how much it is costing him. We’re not talking about a club that’s gone crazy or is chasing the dream, just trying to maintain its place in the Championship, their total budget is £24m a year and the owner is writing a cheque for £12m a year.”

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Brennan, who represents Cardiff West, then asked Parry to frame his explanation by using United as an example. Theorising “If I was buying Sheffield United” it would require the “Best part of £200m to show you in a box of cash,” Brennan mooted.

“Potentially yes, for the purchase price and to keep them going for a couple of seasons,” Parry replied, revealing that the average owner in the competition pumps around £16m into their respective clubs and describing that figure as “the most expensive lottery ticket on the planet.”

Although a non disclosure agreement has prevented either Mmobuosi or Prince Abdullah from discussing the figure they have agreed upon for United, The Star has been told by independent sources that it is around the higher end of Brennan’s estimate.

The founder of Tingo, a company which operates in a number of different spheres including agriculture, finance, mobile telecommunications and food production, Mmobuosi recently met with the EFL to answer several “queries” they raised about his attempt to take control of United. Later this week, Tingo will make a presentation detailing its results for the last financial year following an audit of Mmobuosi’s agri-fintech interests by internationally renowned firm Deloitte.

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