Ownership developments

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All of this has a very familiar feel to it! Over the course of the time I've supported the club we had the boardroom embarrassment when Sam Hashimi tried to buy the club - which as we all know was broadcast to the nation via the BBC's "United" documentary. Soon after we had the boardroom battles between Brearley and Woolhouse and then Woolhouse ruining off with about 700,000!

Finally the club was sold to McDonald and we had Charles Green as his right hand man and finally spending money on the team only to see us dismantle the squad half way through the season and over the next year or two. McCabe then takes sole control and we're pretty much stable - but skint until 2006 when we backed Warnock and he got us promoted. Then the Tevez affair - for once not of our own doing - and McCabe's plan to take over the world buying up about 5 clubs - and then selling them without seemingly any benefit from the whole process. Now we have the Prince and McCabe falling out and it going through the court.

You do wonder where the club would be without Bassett, Warnock and now Wilder!
 
MightyBlades said:
Yep!

Reading that 2nd Star report by James Shield and not the 1st Star report on the matter, it looks like the Prince is pulling a fast one and is refusing to put any more funds into the club, whilst McCabe is pushing for more funds to be made available to the manager, to spend on new recruits this Summer.

McCabe has also requested through the courts that the Prince's company fund Wilder's recruitment drive with an interest-free loan, which McCabe has also said that he would match £ for £. The Prince refused to do so.

I've not taken sides in all these ownership wranglings, until now. But is seems pretty clear that McCabe is doing all that he can to do the best for Wilder and to push the club forward as a whole. Once a Blade, always a Blade, and all that.

The Prince however, is just a hard-nosed businessman, who has seen an opportunity to make some fast cash, at the expense of his previous business partner. He has no true allegiance/roots to the club and I believe is in it purely for the money and the glory. McCabe saved this club when it was on its knees don't forget, and spent a small fortune to bring the ground and training facilities up-to-date, at massive expense to himself. McCabe only wants the best for the club and wants to see it succeed for all the right reasons. It is the football club that he has supported all his life, from being a small boy growing up on Shoreham Street. McCabe is a true Blade, just like you and me, not some pseudo fan who has suddenly dropped in during the interval of an NFL 49'ers match.

I know who I want to come out on top in the current legal shenanigans, and it ain't the prince.
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I too have been careful not to take sides because all we had heard was rumour and gossip.

Having seen this Star report I'm desperately hoping for a McCabe victory when it finally gets to court.
 
The way I read it, the owners had agreed there would be a transfer budget of £7m available to CW. The disagreement seems to stem from whether an additional cash injection is required in order to fund this. KM thinks so, Prince doesn’t. Presumably if there is no further injection this means our losses will increase.

This seems to fit in with CW’s comment about how much of the Brooks fee he will get to spend; KM presumably views this as the cash injection needed to fund the initial agreed budget of £7m, whereas Prince sees this as an additional amount which can be allocated to CW’s budget.

Of course this could all be bollocks.
 
I should coco said:
I have also heard a second hand rumour from our medical staff that he is not quote fully recovered from the Glandular Fever. This is part of the reason that £12m is felt by the club to be a good deal in the circumstances.

I'm just saying what I've heard. I'm sure there will be an alternative version of events to 'proove' how badly we undersold him.

Here's a bit more about how it affected Heather Watson a few years ago:

"Sweden’s Robin Soderling, a recent world No 4, has not played for nearly three years following his diagnosis, while the illness ended the career of Croatia’s Mario Ancic, a former world No 7."

https://www.independent.co.uk/sport...fter-contracting-glandular-fever-8558897.html
Click to expand...

Absolutely. Sebastian Coe was never the same again. This should not be under-estimated.
 
Non of this makes a lot of sense to me, why would the Prince not want to put money in last summer ? Would it not be better to own half of a Premier League club and all the riches that comes with it than the whole club still in the Championship and still in need of significant investment just to stand still ? Neither of them are going to make any money while outside the Premier League seems to me like they are fighting to own something worth next to nothing rather than half of something which would be a nice little earner. Not sending out a good message to potential player recruits is it that is if there is any money available to actually go out and get them, rather worrying that we seem to be hearing more about loans rather than permanent signings. One thing is certain at this club just when it starts to look good along come the owners to fuck it all up again.
 
The judge will decide who is right and who is wrong between the two of them, no ifs and buts. That's OK with me, I don't give a fuck, what will be will be. Except of course for the drain on resources getting blown on legal fees.

What is apparent from this thread though is that some of our fans have judged already and of course it's in favour of "one of our own", no other reason than this. Small town display yet again. I can imagine the excitement at the prospect of facing Forest Green Rovers in a couple of years time: "Wow, that's another ground we can scratch off the list!".
 
Our neighbours across the city had thought all their birthdays had come at once with a verdict from a North Wales court in April 2012. It gave them a five year start on us.

Now, (just as we have pulled ahead) in another British court they'll be thinking all their Christmases have arrived together.

We never learn.
 
Foxy said:
The only "development" is the releasing of the hearing doc over a week ago - http://www.bailii.org/cgi-bin/forma.../Ch/2016/1663.html&query=(Kevin)+AND+(Mccabe)

Please don't read if you are an opposing club looking to see what our budget is though :rolleyes:
Click to expand...
Well that clause 11 certainly makes interesting reading and whilst it may not be illegal it is certainly underhand and immoral.

I would worry about the future of OUR club in the hands somebody capable of sinking to that level.

I can see why McCabe is upset.
 
South Bucks said:
Contrary to those who think the Brooks transfer was all down to his agent it looks like we had to raise money from somewhere to stay afloat. Bearing in mind it was probably what the business world calls a "distressed sale" we did well to get £12m or whatever for him.
http://www.quadrantchambers.com/seminars/preserving-assets-full-time-whistle-for-the-siskina
Click to expand...

Well, Tufty thinks it was very much (not ‘all’) down to the leech and isn’t too impressed with young David, either. That much is clear from his latest RS interview.
 

Foxy said:
The only "development" is the releasing of the hearing doc over a week ago - http://www.bailii.org/cgi-bin/forma.../Ch/2016/1663.html&query=(Kevin)+AND+(Mccabe)

Please don't read if you are an opposing club looking to see what our budget is though :rolleyes:
Click to expand...
Thanks for posting foxy, all very clear now and who is the good guy and the not so good (being very polite).
If I had a deal with someone to sell my house at market price in future and then that person pulled a manoeuvre to get out of it I'd be pretty pissed off with them and never trust them again.
 
Maidenhead said:
https://www.thestar.co.uk/sport/she...at-a-preliminary-high-court-hearing-1-9242353

"Sheffield United Ltd says that in real and practical terms it is necessary, to maintain and improve the standards of the football club and its prospects of further promotion and to honour an assurance previously given to the club's manager that an additional £2 million would be available in the transfer window to improve the squad," he added. "UTB says that in purely financial terms it is not necessary and that in any event the cash flow properly analysed does not show that the injection of further capital is needed to fund such expenditure."




McCabe said we needed to put £7m in to progress. (Sheffield United Ltd being McCabe's company)

The Prince disagreed.

Pretty clear to me which one doesn't wasn't to invest any more.
Click to expand...

Agreed. Has zablade read this bit? ;)
 
But just a few months ago when this all blew up KM said he hoped it would all be sorted by the start of the new season AND if the club ended up owned by the Prince he would be happy with him as owner.
 
MightyBlades said:
Yep!

Reading that 2nd Star report by James Shield and not the 1st Star report on the matter, it looks like the Prince is pulling a fast one and is refusing to put any more funds into the club, whilst McCabe is pushing for more funds to be made available to the manager, to spend on new recruits this Summer.

McCabe has also requested through the courts that the Prince's company fund Wilder's recruitment drive with an interest-free loan, which McCabe has also said that he would match £ for £. The Prince refused to do so.

I've not taken sides in all these ownership wranglings, until now. But is seems pretty clear that McCabe is doing all that he can to do the best for Wilder and to push the club forward as a whole. Once a Blade, always a Blade, and all that.

The Prince however, is just a hard-nosed businessman, who has seen an opportunity to make some fast cash, at the expense of his previous business partner. He has no true allegiance/roots to the club and I believe is in it purely for the money and the glory. McCabe saved this club when it was on its knees don't forget, and spent a small fortune to bring the ground and training facilities up-to-date, at massive expense to himself. McCabe only wants the best for the club and wants to see it succeed for all the right reasons. It is the football club that he has supported all his life, from being a small boy growing up on Shoreham Street. McCabe is a true Blade, just like you and me, not some pseudo fan who has suddenly dropped in during the interval of an NFL 49'ers match.

I know who I want to come out on top in the current legal shenanigans, and it ain't the prince.
Click to expand...

Thanks for putting your view across, Kevin ;)
 
South Bucks said:
Contrary to those who think the Brooks transfer was all down to his agent it looks like we had to raise money from somewhere to stay afloat. Bearing in mind it was probably what the business world calls a "distressed sale" we did well to get £12m or whatever for him.
http://www.quadrantchambers.com/seminars/preserving-assets-full-time-whistle-for-the-siskina
Click to expand...

Quite a few eggs broken in this basket eh?

Isn’t this about Princey not buying McCabe’s properties but renting them at a reduced rate?
Seems McCabe was happy to sell his shares for a reduced rate of £5 million so long as Princey paid £20 for the properties?

P.S- If Wilders ‘increased transfer budget’ was/is £7 million (including all fee’s/wages) that’s tragic.

P.P.S- looks like they’re Both (understandably) reticent to chuck money into the club until this is sorted.
 
Last edited:
In the light if these new confirmed revelations, it is vitally important that Wilder finds out sooner than later the proportion of the Brooks money he is going to have access to.
Without it we have a totally different pool of players to fish in and would have to rely on Deane and Agana type inspired signings as opposed to tried and tested which is the pool that Wilder expects to be fishing in.
Only at BDTBL do we yet again snatch defeAt from the jaws of victory
 
DazBlade88 said:
Additional £2m on top of the other figure mentioned :)
Click to expand...

No, it looks like that is part of the original budget, which includes both fees and wages.

Judging by this document, unless I'm totally misreading it, the original budget was lower than we thought, and the Brooks money will be going to fund operating losses during the ownership dispute.
 
Esablade said:
Quite a few eggs broken in this basket eh?

Isn’t this about Princey not buying McCabe’s properties but renting them at a reduced rate?
Seems McCabe was happy to sell his shares for a reduced rate of £5 million so long as Princey paid £20 for the properties?

P.S- If Wilders ‘increased transfer budget’ was/is £7 million (including all fee’s/wages) that’s tragic.

P.P.S- looks like they’re Both (understandably) reticent to chuck money into the club until this is sorted.
Click to expand...

Doesn't make good reading at all.

Seems as though the deal would be that Prince would get Club and Property (Estimated value of £40m) for £25m

I can see why McCabe would be pissed with what the Prince has done, whether legal or not.
 
dc_blade said:
No, it looks like that is part of the original budget, which includes both fees and wages.

Judging by this document, unless I'm totally misreading it, the original budget was lower than we thought, and the Brooks money will be going to fund operating losses during the ownership dispute.
Click to expand...

Ah yeah, my bad. And someone doesn't think it's necessary to spend :eek:
 
HoodedClaw said:
Doesn't make good reading at all.

Seems as though the deal would be that Prince would get Club and Property (Estimated value of £40m) for £25m

I can see why McCabe would be pissed with what the Prince has done, whether legal or not.
Click to expand...

I’ve only skimmed through it but saw figures quoted as ( a knock down from £10 million?) £5 million for shares and £20 million for propoerties...with Princey trying to get out of buying properties but renting them at a low rate?

McCabe I would guess would have taken £25 million for the lot???
 

Esablade said:
Quite a few eggs broken in this basket eh?

Isn’t this about Princey not buying McCabe’s properties but renting them at a reduced rate?
Seems McCabe was happy to sell his shares for a reduced rate of £5 million so long as Princey paid £20 for the properties?

P.S- If Wilders ‘increased transfer budget’ was/is £7 million (including all fee’s/wages) that’s tragic.

P.P.S- looks like they’re Both (understandably) reticent to chuck money into the club until this is sorted.
Click to expand...
Appears party A was trying to force the issue one way or the other with £5 a go knowing the other guy was bound to respond. Classic put up or shut up, can't blame party A. Someone clearly is not afraid to leave the party for the right price, but therein lies the problem, party B doesn't want to pay market rates if they can dodge it, classic souk stuff.

I'm all up for some T shirts saying "Uck a prince", any takers, I'll boo the ucker every time I'm near him from now on.
 
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