Sheffield United takeover: Why Dozy Mmobuosi’s proposed takeover might be taking so long

As well as confirming Mmobuosi could be required to provide proof of around £200m worth of funding in order to receive approval from his organisation to seize control at Bramall Lane, Parry told a parliamentary investigation into the Football Governance White Paper that this is now required in advance rather than after an agreement is ratified.

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Mmobuosi, a Nigerian entrepreneur operating primarily in the agri-fintech, food production and mobile telecommunications spheres, was identified as the individual hoping to replace Prince Abdullah bin Musa’ad bin Abdulaziz Al Saud at the helm of United earlier this year. After meeting the EFL earlier this month in order to try and accelerate the process, Mmobuosi’s proposed business model is still being analysed by its financial experts.

Speaking to MP’s on the Digital, Media and Sport select committee - including Kevin Brennan, whose questioning prompted Parry to divulge a ball-park figure for the amount of money Mmobuosi must demonstrate he has access to in order to gain control of United - the former Liverpool and Premier League chief executive outlined the tests anyone now hoping to purchase one of the EFL’s members must pass.

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Referring to events at Gigg Lane, where Bury were expelled from the EFL four years ago following a series of monetary issues, Parry said: “We have tightened regulations so we wouldn’t have a re[peat of Bury. We had an anomaly whereby an owner could take over and then provide proof of funds afterwards. That was a pretty glaring weakness which can’t happen anymore.”

Mmobuosi and Prince Abdullah, who ousted former co-owner and long-standing director Kevin McCabe after winning a High Court battle between the pair in 2019, are known to have negotiated a price for United after first being introduced to one another midway through a season which has seen Paul Heckingbottom’s side climb to second in the table and reach the semi-finals of the FA Cup.

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In February, the EFL released a statement confirming it had raised “queries” about Mmobuosi’s plans which were required to be addressed before its checks could continue. The 43-year-old is thought to have submitted a fresh series of documents to support his bid as a result, as well as meeting the governing body at least twice to provide further reassurances. As The Star revealed earlier this month, Mmobuosi has also spoken with Toby Perkins MP, a well-known United fan, to detail some of the ideas he hopes to implement. Perkins admitted he had been “encouraged” by his desire to promote greater fan representation at board level and blueprint on the pitch but reiterated that he was not acting in a “cheerleader” capacity.

Parry’s comments to Brennan suggested that Mmobuosi had been required to demonstrate he could not only meet Prince Abdullah’s demands but also fund United for around two seasons before being greenlighted. The same measures are applied to others hoping to buy an EFL club.

“Owner funding across EFL in total is about £400m per annum, the majority of it in the Championship,” Parry said.

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