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Sheffield United ownership: Prince Abdullah wins court battle


Prince Abdullah Bin Mosaad Abdulaziz Al Saud and co-owner Kevin McCabe watch Sheffield United play Rotherham in September 2013Image copyright
Getty Images

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Kevin McCabe and Prince Abdullah worked together for six years

A Saudi prince has won a High Court battle over the control of Premier League side Sheffield United.

Kevin McCabe and Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud were locked in a legal battle over their 50-50 ownership of the Blades.

Mr Justice Fancourt ruled Mr McCabe must now sell his stake to Prince Abdullah for £5m.

Mr McCabe, a “life-long” Blades fan, said he was “bitterly disappointed” and was considering an appeal.

The court heard Sheffield-born Mr McCabe had invested £100m in the club over a number of years.

He met Prince Abdullah in 2013 while looking for fresh investment in the club, then in League One.

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Reuters

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Mr McCabe was described in court as “a wealthy Yorkshireman”

Prince Abdullah, a member of the Saudi royal family, invested £10m but the two men “fell out” in 2017.

The disagreement became “very personal and acrimonious” with Sheffield United Ltd, the company run by Mr McCabe and his family, eventually making an offer to buy out the prince for £5m.

But the offer also gave the prince’s company, UTB LLC, the option to buy Mr McCabe’s shareholding at the same price and a counter notice was served in January 2018.

Mr Justice Fancourt said the contract of sale and purchase of Sheffield United Ltd’s shares could not be set aside.

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Reuters

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Sheffield United won promotion to the Premier League last season

He also dismissed a claim for damages saying UTB LLC had not conducted affairs in a manner unfairly prejudicial to the interests of Sheffield United Ltd.

In a statement issued after the ruling, a spokesman for Mr McCabe said: “He has supported Sheffield United through thick and thin going back to the 1950s and wishes nothing more than success for the club, its supporters and the many staff employed by it.

“Mr McCabe sincerely hopes that he is proved wrong in relation to his deep misgivings about the suitability of Prince Abdullah as an appropriate custodian of Sheffield United.”

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Reuters

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Mr McCabe is thought to be the longest serving director and owner in the history of Sheffield United

Prince Abdullah, a grandson of modern Saudi Arabia founder King Abdulaziz, said he was “delighted” by the judgement.

“No owner, director, coach or player is bigger than the club but together with the fans, we all share the common desire to make the club ever greater,” he said.

Sheffield United released a statement saying the judgement “brings an end to the uncertainty over Sheffield United’s future ownership and allows us to focus our full attention on the season ahead”.

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