Ownership developments

[Pinchy]

Doesn’t it, to a degree, depend on the conduct of the parties? I seem to recall cases where the conduct of the ‘winner’ has been so appalling they’ve been ordered to pay their own costs. I could be wrong but I also have in the back of my mind that the courts don’t like those who choose litigation when the matter may have been solved by ADR.

The simple answer is ‘yes’. The court has a fairly wide discretion as to costs but the starting point remains ‘loser pays winner’s costs’ in the High Court.

 

[snootyfenooty]

Really? I look after myself. Never done that. Feel free to ask him. Another silly remark.

Oh yeah, what about this one?

Because it’s a different price! Of course I jump on it. It’s the sort of drivel that football fans spout when they haven’t a clue.

Anyway let’s put an end to this and ask someone senior at the club shall we?

Foxy, JimPhipps can you help?

And so the drivel continues.

 

[Railway Blade]

Ok, so then who owns the newly created company that’s nothing to do with the prince, because doesn’t that make this person a major shareholder..

It isn't a newly created company its "UTB LLC"The Prince's Limited liability partnership that owns 50% of Blades Leisure Ltd. He has given 80% of his shares to someone else but we don't know who to. This entity is registered in the West Indies not the UK so we don't know who he has transferred his shareholding to

 

[Sean Thornton]

The simple answer is ‘yes’. The court has a fairly wide discretion as to costs but the starting point remains ‘loser pays winner’s costs’ in the High Court.

Plus one of those "success fees"?

 

[Deleted member 1486]

if you have 75% you have to pick up the tab for the assets of around £20mill ... there's long leases at reduced rents so they are worthless to you. Snigger Snigger

I haven't read all the replies, so this may have been brought up.. I can kind of understand your point if the sale of the ground was to someone who didn't also own the club, but if the assets are worth £20 million how do they suddenly become worthless once transferred to the (100%) owner of the club? Surely this is how football clubs are usually bought and sold? (complete with the ground, and when that hasn't happened it's usually turned into a clusterfuck).

If I own a business that sells widgets run from a rented shop in a perfect widget selling location (and there are no alternatives) my business is worth next to fuck all. If I own the shop as well as the retail business I own a business of significant value. How is this any different?

 

[Pinchy]

Oh yeah, what about this one?



And so the drivel continues.

An enquiry as to a factual matter, directed at people likely to know the answer? I’ll leave the audience to decide that one...

 

[Jonboy60]

Is it possible that they could come to some sort of an agreement, before all this goes too far.
Or is it now a foregone conclusion that the only winner will be decided by the court judgement.
That way they both save face, and can concentrate on getting CW and the boys back to the premier.
While their legal teams can sort out some kind of joint agreement, on the sale of the club.

 

[Balham]

and ought to dispel the daft notion that the club runs on thin air...

And dispel the even dafter notion that Kevin McCabe is taking millions out of the club.

 

[Pinchy]

Is it possible that they could come to some sort of an agreement, before all this goes too far.
Or is it now a foregone conclusion that the only winner will be decided by the court judgement.
That way they both save face, and can concentrate on getting CW and the boys back to the premier.
While their legal teams can sort out some kind of joint agreement, on the sale of the club.

As a matter of law, yes. The court would be delighted if they did. However, litigation has now begun so the matter would have to return to court to rubber stamp the agreement.

 

[Pinchy]

And dispel the even dafter notion that Kevin McCabe is taking millions out of the club.

Unlikely...

 

[snootyfenooty]

An enquiry as to a factual matter, directed at people likely to know the answer? I’ll leave the audience to decide that one...

In the expectation he would agree with you. It backfired spectacularly. Remember?

 

[BushBlade]

I haven't read all the replies, so this may have been brought up.. I can kind of understand your point if the sale of the ground was to someone who didn't also own the club, but if the assets are worth £20 million how do they suddenly become worthless once transferred to the (100%) owner of the club? Surely this is how football clubs are usually bought and sold? (complete with the ground, and when that hasn't happened it's usually turned into a clusterfuck).

If I own a business that sells widgets run from a rented shop in a perfect widget selling location (and there are no alternatives) my business is worth next to fuck all. If I own the shop as well as the retail business I own a business of significant value. How is this any different?

I think he’s saying they’re worthless to KM if he doesn’t own the club because the rent is so low.

Edit; no, he’s not saying that. No idea then.

 

[sheffielder]

An enquiry as to a factual matter, directed at people likely to know the answer? I’ll leave the audience to decide that one...

Kind of reminds me of the day when some legal eagles on here were saying Ched would be a free man on the evidence provided

 

[BushBlade]

Kind of reminds me of the day when some legal eagles on here were saying Ched would be a free man on the evidence provided

Has he been locked up again? FFS

 

[Pinchy]

Doesn’t it, to a degree, depend on the conduct of the parties? I seem to recall cases where the conduct of the ‘winner’ has been so appalling they’ve been ordered to pay their own costs. I could be wrong but I also have in the back of my mind that the courts don’t like those who choose litigation when the matter may have been solved by ADR.

A simplified, but accurate, guide confirming your thoughts:

https://www.inbrief.co.uk/civil-court/pay-court-costs/

 

[raul]

This blundering fool has made a great deal more dosh than you or I...

And lost a load more too according to the sage....

 

[HoodedClaw]

It isn't a newly created company its "UTB LLC"The Prince's Limited liability partnership that owns 50% of Blades Leisure Ltd. He has given 80% of his shares to someone else but we don't know who to. This entity is registered in the West Indies not the UK so we don't know who he has transferred his shareholding to

He transferred 80% of his 50% shareholding from UTB LLC to another corporate vehicle, UTB 2018 LLP.

 

[Pinchy]

In the expectation he would agree with you. It backfired spectacularly. Remember?

I am on the end of more insults, I would guess, than anyone else on here. I bring it upon myself. I don’t bleat. I have never, ever made a report to the owners. The most I have ever done is alert them to potential defamation but certainly not against me.

I have said openly that the site would be better off without certain individuals but exactly that, openly.

 

[Sean Thornton]

It isn't a newly created company its "UTB LLC"The Prince's Limited liability partnership that owns 50% of Blades Leisure Ltd. He has given 80% of his shares to someone else but we don't know who to. This entity is registered in the West Indies not the UK so we don't know who he has transferred his shareholding to

 

[snootyfenooty]

I am on the end of more insults, I would guess, than anyone else on here. I bring it upon myself. I don’t bleat. I have never, ever made a report to the owners. The most I have ever done is alert them to potential defamation but certainly not against me.

I have said openly that the site would be better off without certain individuals but exactly that, openly.

An open plea to the forum now. Pathetic.

I'm ending this dialogue with you now as your earlier trolling attempt is only succeeding in wrecking this thread.

 

[Jonboy60]

View attachment 41395

Is that harry redknapps dog.

 

[Pinchy]

An open plea to the forum now. Pathetic.

I'm ending this dialogue with you now as your earlier trolling attempt is only succeeding in wrecking this thread.

What a weird response, wholly misrepresenting what I have said. Again, I’ll leave it to the audience.

 

[blade too long]

he (pinchy ) is stating fact,
he stated certain individuals forward conspiracy theories against all and sundry at the club, for some as yet unclear reason.
why any blade would denegrade the club while not in possession of the full facts is mind boggling
theres being in the know
and being a know it all, or convinced they are

 

[Sean Thornton]

Is that harry redknapps dog.

No. Rosie went to live on a farm some years ago.

 

[Tezza1889]

He transferred 80% of his 50% shareholding from UTB LLC to another corporate vehicle, UTB 2018 LLP.

Who now owns those shares...

In effect we have a sleeping partner then?

He can’t claim to not have the shares in order to facilitate a cheap deal and still control the shares... is that right ?

 

[Dellas Cowboys]

No Blades Leisure is jointly owned by a company owned by McCabe - Sheffield United Ltd and UTB LLC owned by the Prince. Blades Leisure also controls the football club.

and not forgetting UTB 2018 which now has 40% of Blades Leisure, thanks to HRH.

 

[HoodedClaw]

Who now owns those shares...

In effect we have a sleeping partner then?

He can’t claim to not have the shares in order to facilitate a cheap deal and still control the shares... is that right ?

Good question.

Certainly seems like we might have.

He can as no single entity owns more than 75% of the issued shares.

Sheffield United Ltd (McCabe) - 50%
UTB LLC (Prince) - 10%
UTB 2018 LLP (?) - 40%

He is trying to purchase McCabes 50% using UTB LLC which would still be under the threshold to purchase the properties but a controlling share against UTB 2018 LLP.

The plot thickens.

 

[Worksop II]

Who now owns those shares...

"Undisclosed"

 

[Dellas Cowboys]

"Undisclosed"

Not sure, but 2015 article in Guardian says the original UTB LLC was owned by a family trust of HRH.

 

[Bladesman]

It isn't a newly created company its "UTB LLC"The Prince's Limited liability partnership that owns 50% of Blades Leisure Ltd. He has given 80% of his shares to someone else but we don't know who to. This entity is registered in the West Indies not the UK so we don't know who he has transferred his shareholding to