Sheffield United's proposed takeover still waiting for approval amid County Court judgement report

It emerged last night that Mmobuosi, who has spoken of his confidence that the governing body will grant approval for him to purchase the Championship club, owes more than £30,000 on a property in St Albans, Hertfordshire. The judgement in question was issued in April 2021 and, at the time of writing, remains in place.

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In order for the EFL to greenlight Mmobuosi’s takeover from United’s current owner Prince Abdullah bin Musa’ad bin Abdulaziz Al Saud, they must be satisfied that he not only has the money required to fund the deal but also cover the team’s operating costs moving forward.

The test also states that providing “false, misleading or inaccurate information” on the declaration submission it requires to investigate anyone proposing to become a “relevant person” at one of its members would qualify as a disqualifying condition.

The Star understands Mmobuosi has yet to receive the go-ahead from the EFL, which is scrutinising his credentials. As reported yesterday, one of the Nigerian’s associates, barrister Chris Cleverley, was a partner in private equity firm PAI Capital when it failed to gain control of West Ham from David Sullivan and the late David Gold. Rio Ferdinand, who interviewed Mmobuosi on his YouTube channel last week, had publicly backed PAI’s attempt to push through a deal together with his brother Anton.

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One of Mmobuosi’s companies, Tingo Mobile, was recently acquired by Nasdaq listed firm MICT Inc. Officials there last week appointed a specialist legal counsel and team of expert advisors to investigate suspected market manipulation of its stock.

MICT’s board said it "is concerned that the company’s share price and market capitalization, currently standing at approximately $175 million, is being artificially depressed through various market manipulation tactics.”

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TM, now described as an MICT subsidiary, today announced it has entered into a partnership with VISA to deliver, according to Mmobuosi, “financial inclusion across Africa.” Darren Mercer, MICT’s president and chief executive officer, was once CEO of AIM listed company BNN Technologies; which found itself at the centre of controversy in 2017 following a series of allegations by its chief financial officer. Mercer, who was briefly suspended as an employee of BNN, was reinstated following an investigation by an independent committee but resigned his board position by “mutal consent” according to its report.

Mmobuosi is thought to have agreed a price, estimated at around £90m, for United and stated during another interview, this time with CNN, that he plans to self-finance his proposed takeover.

“It is my money. And I have actually made a deposit,” he said. “I would expect myself and the club to issue a joint statement you know that would have details concerning how much, but I have made a deposit and that shows my seriousness for a start.”

Despite the upheaval they are experiencing off the pitch, with the EFL placing them under a transfer embargo last month, United have remained effective on it with Paul Heckingbottom’s side entering tomorrow’s game against Middlesbrough ranked second in the table and 10 points ahead of their third placed opponents.

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