Sheffield United owners facing fresh headache as former owner takes drastic action over "unpaid" takeover bill

The latest instalment of controversy surrounding Sheffield United’s under-fire American owners arrived today when the company through which they bought the Blades was served with a winding-up petition by former owner Prince Abdullah. The Saudi prince sold United to COH Sports back in late 2024.

The deal struck to end a protracted takeover saga allowed the payment of some of the purchase fee to be deferred and paid in instalments. One of those chunks, said by sources with knowledge of the process to be £10m, was due in October but was paid late, leading to the first suggestion of Prince Abdullah issuing a winding-up petition against the Blades.

Now a petition has been officially lodged, with documents showing that Jones Day solicitors - who represented Prince Abdullah in the sale to COH - have filed the necessary paperwork against COH Sports Bidco, the UK limited company that Steven Rosen and Helmy Eltoukhy set up to buy the Blades.

The source has suggested to The Star that the last two instalments - which were said to be due in April and June, said to be higher than the £10m chunk and would have completed the purchase price - have gone unpaid, leading to the serious step of the petition being filed.

COH Sports Bidco will now have the opportunity to respond to the petition, with the relevant authorities also likely to be keeping a keen eye on developments. Historically, winding-up petitions have carried the potential for sporting sanctions if they are not resolved quickly, although it is currently unclear how any such process would operate under the new regulatory framework.

The initial understanding is that United are not under immediate threat of a points deduction ahead of the new season, although the revelant governing bodies will be keen to re-confirm that United can be supported in the short, medium and long term.

A winding-up petition is different to a winding-up order, which can only be made by a court if the company fails to successfully challenge or settle the petition. At that stage, the company would enter compulsory liquidation.

Another important distinction is that the petition has not been filed against Sheffield United Football Club itself, but against the company through which COH Sports acquired the club. Winding-up petitions are commonly used as a last-resort option to settle outstanding debts.

Kris Wigfield, an insolvency practitioner and Wednesday fan who effectively took charge of the Blades’ city rivals after they were plunged into administration recently, discussed the development on X.

He posted: “A winding up petition has been issued against the holding company of Sheffield United by its former owner. This would likely come with the same EFL sanctions as if the WUP was against the football club itself.

“However, I would have thought it’s highly likely to be a commercial game of cat and mouse that will be resolved well before it ever gets to court.”

Such petitions do not mean a company will automatically be wound up, with respondents able to dispute the claim, settle the alleged debt or seek to have the petition dismissed before any court hearing.

But it is another unwelcome landmark in Rosen and Eltoukhy’s ownership of United, which has been in the spotlight almost ever since they got the keys to Bramall Lane just before Christmas 2024. They made the ill-fated call to sack Chris Wilder and replace him with Ruben Selles last summer, before performing a quick U-turn on their decision.

The pair were sued by a former partner in their bid to buy United, Tom Page, in the States earlier this year, although they say Page’s case is “entirely without merit.” And earlier this month United’s holding company was changed to 1919 Partners LLC.

Eighteen months on from buying the Blades, neither Rosen nor Eltoukhy have agreed to a single media request from local journalists despite multiple requests, leaving supporters still waiting to hear directly from the owners about their long-term plans for the football club.

The Star has approached both United and COH Sports’ representatives for comment.