Sheffield United takeover hit by 11th-hour snag with transfer clock ticking as US group secure Everton breakthrough
Latest delay in Sheffield United takeover saga explained as clock ticks down towards crucial January transfer window
Sheffield United’s drawn-out takeover process has seemingly gone on forever, so it wouldn’t be right if it didn’t hit one more snag right at the 11th hour. The deal, which will see a US-led consortium take sole control of the Blades and bring Prince Abdullah’s 11-year association with United to an end, is now approaching its endgame with confidence remaining that it will be completed.
The COH Sports group, led by American businessmen Steven Rosen and Helmy Eltoukhy, could even have had the keys to Bramall Lane already but for a late and unforeseen issue that delayed things once again. The would-be new owners, sources with knowledge of the deal have told The Star, had to change their legal representation at the last minute, which necessitated a return to the English Football League to re-validate the existing documents and agreements which had already been submitted.
That process is not a lengthy one, nor a deal-threatening one, but was another source of frustration for all involved after a long and drawn-out process that has played out in the background since earlier this summer, when a deal was first said to be approaching a conclusion. But it remained unsigned for months, with United starting the Championship season superbly and the Prince attempting to renegotiate the bonus payment he would be due if the Blades were promoted as a result.
That hurdle is now thought to have been overcome, with the deal becoming official upon payment of the first instalment of the £105m purchase price. Anticipation of the deal was raised further this week when United were removed from the ‘partners’ page of the United World website, but they were subsequently reinstated to the list of clubs operating under the organisation set up by the Prince to manage his global network of clubs.
The would-be new owners are keen to gain power as soon as possible and fulfil their public promise to support manager Chris Wilder in the January transfer window, which now opens in less than a fortnight. United go into this weekend’s clash with Cardiff City top of the Championship table but with their relatively thin squad stretched by injury and fatigue issues, with key men including Oliver Arblaster, Anel Ahmedhodzic and Tyrese Campbell all missing last weekend’s laboured victory over struggling Plymouth Argyle.
Prince Abdullah is believed to be in his native Saudi Arabia currently and as a boxing fan, could attend this weekend’s heavily-anticipated rematch between Oleksandr Usyk and Tyson Fury in Riyadh. A former minister of sport in his homeland, he was also present at the recent ceremony which confirmed the Gulf state as the hosts of the 2034 World Cup following an uncontested bidding process.
Elsewhere in England, Premier League side Everton have announced the completion of their own US-led takeover bid, with the club acquired by Roundhouse Capital Holdings after an agreement to buy Farhad Moshiri’s shares in the Toffees. The deal received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority before being announced this morning.