NEWS:Cultural And Strategic Shift That The American-led Takeover of Sheffield United Could Represent For The Club…Read more
“Sheffield United Takeover on the Cusp of Completion: American Consortium Edges Closer to Securing EFL Approval for Club Acquisition”
The American consortium aiming to purchase Sheffield United has submitted their plans to the EFL for official approval before taking over Bramall Lane.
Negotiations have advanced between the Silicon Valley-based private investors and Sheffield United’s owner, Prince Abdullah, for a sale valued at over £100 million following the club’s relegation from the Premier League last season.
Sources are optimistic about the deal’s completion after intensified talks in the past week. Members of the consortium have traveled to England to finalize the transaction, with due diligence already conducted on the buyers’ side.
Plans have been sent to the EFL, which will conduct an owners and directors’ test. They will also request “Future Financial Information” and proof of funds from the potential owners. There is confidence that the final steps will be completed, allowing the new owners to take control over the summer.
The capital investment fund had shown interest in Sheffield United a year ago, but the deal fell through. The takeover was revived after the club’s relegation from the top flight.
The potential new owners are reportedly looking at player options for the summer transfer market, as Chris Wilder’s squad lost several first-team players after finishing last in the Premier League. They have also appointed an English-based technical advisor to assist with the potential deal.
Following recent negotiations, there is positive sentiment about finalizing the deal. Telegraph Sport first reported the initial interest a year ago, citing a source: “They are a Silicon Valley-based capital investment fund exploring options, potentially in the Premier League.”
Prince Abdullah had previously been in discussions with Nigerian businessman Dozy Mmobuosi, but a takeover did not materialize. Mmobuosi has since faced fraud accusations by the US Securities and Exchange Commission, which he denies, and the case is ongoing.
Sheffield United returned to the Championship after one season in the Premier League, earning just 16 points and finishing at the bottom of the table.
If the new consortium succeeds in taking over the club, they will join the growing number of American-owned clubs in English football. In the Premier League, Chelsea recently changed hands to US owners, Liverpool is owned by Fenway Sports Group, and the Glazer family has sold part of Manchester United. Last season, half of the Premier League clubs had American investors.
Last year, American investment group 49ers Enterprises acquired Leeds United, which reached the Championship play-off final but lost to Southampton.
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