Sat is a room with the biggest set of fools ever (shareholders)

[GrayBlade]

We really need to hear more from HRH. His failure to put his case forward makes it seem like he has no interest in the club and will be used against him accordingly. It’s like a general election where only one party really campaigns, a bit like the Conservatives last time out.

 

[Fraggle Blade]

The bit about McCabe thinking the Prince doesn't have the clubs best interest at heart is exactly the reason why I'm concerned

I didn't actually hear him say those words.

 

[Fraggle Blade]

Just a comment also about the bribe................the Prince didn't try to bribe someone as someone tweeted earlier.
It is suggested that the Prince received a bribe so this Dr Character could win some TV rights for football matches in Saudi.

 

[Espania blade]

When I first read the transcript from the court case if I remember correctly in summing up the Judge remarked along the lines of "this is more a corporate case than a legal case" I am sure I will be corrected if i am wrong!!) but a statement such as that in court room is a clear indication that the two parties should get round a table and sort things out rather than differing to the legal system and "points of law" I was once in a similar situation and after both parties had submitted their statements the judge did a brief summing up and suggested we had a 30 minute break, at which our lawyer said to us "that means we have 30 minutes to get it sorted" or he (the judge) wouldn't be happy as it was clear all that was needed was compromise... we sorted it and it cost us money, but it could have cost us a lot more if we had left it to the judge to sort it for us, hey ho' that's life but i somehow expect McCabe and the Prince to have it sorted before it comes to court next May, hence the "mediation" meeting.

Of course all the above could be a load of old bollocks it's just my opinion and how i see it panning out.

 

[Sean Thornton]

The uplift in property prices was mentioned in the skeletons. The property is valued in SU's accounts based on the low rent currently charged. The initial agreement apparently contains clauses that a market value rent would be chargeable. Thus increasing the valuation. This shouldn't have been missed by the Prince at the outset, so the claim that he doesn't want the property, or pay full rent, would seem. a reasonable one.

SU Limited began the actions. BL is owned 50/50.

 

[Sean Thornton]

Just a comment also about the bribe................the Prince didn't try to bribe someone as someone tweeted earlier.
It is suggested that the Prince received a bribe so this Dr Character could win some TV rights for football matches in Saudi.

Is that the outstanding balance of the Princes loan repaid by the club but allegedly written off by the third party?

 

[Sean Thornton]

Ok, I tried to make notes on my phone at the meeting as people were speaking......below are my rough notes.


Moral in the club still good

Philip Sewell litigator

Formal legal document for ownership

Russian roulette buyout

More than 75% of share ownership then ground and academy must be bought

Prince doesn’t want property

Blades leisure instigated 5m bid (McCabe)

Prince responded with counter claim of 5m

Prince transferred shares 40 percentage before he made counter offer

May 2019 in high court

2 judgement made so far in June

10m for cash flow independant assessed for running club this season

Loans were reasonable, gifts of money not - according to judge

Parties still in discussions and might have September mediation

This will remove need for litigation

Clauses stated in original partnering agreement for aims - promotion to premier league and unification of property to the football club

Partner (Prince) not developed as expected with not getting under the skin of our dna

Questions

Lack of trust started dispute by prince colleagues not necessarily him causing friction

If prince buys ground it will be contractual it can’t be sold and club moved

How did McCabe get in this situation? - Didn’t really answer

Most shareholders against foreign ownershipand want someone from Sheffield, who is a blade...only to control club.....la la land

Prince could have challenged clause 9.12 about buying property - Order for specific performance, looked at it but didn’t follow throug. This would have questioned before a judge if he had to comply with the clause and buy the property.

Mediation request came from princes side

20m is compensation figure for the ground and academy, trigger will make property valued at market value, so it will cost more than 20m to buy at value

10m invested by prince in first 2 years which was used by the club, everything equal afterwards with reagrds to club funding

25 year lease at low rental rate £250000 per annum- depressed value - atm....Prince sees this is something to maintain rather than buy properties

Concern over 1.6m funding and possible bribe over Saudi tv rightswhich McCabe legal team are investigating

LEDs expensive to install, but increase in revenue

Can't sell BL or move the club? And HRH agreed to all this initially? Wow! Crab, Crab and A Chaser do his legal work?

 

[Blade58]

I didn't actually hear him say those words.

Just replying to Luke Shepherds tweet who refers to it

 

[Fraggle Blade]

Is that the outstanding balance of the Princes loan repaid by the club but allegedly written off by the third party?

This is in relation to the 1.6m payment which the Prince needed to pay the club, but it is alleged the Dr character actually paid this sum...i think.....but yes, it is relation to that loan

 

[dingledog]

Here is my two Penneth. I may be a fool, or not. My wife bought me the shares for a birthday gift. They have no value, bring no benefit and are practically of no use. That said they were bought with love and affection and for that have sentimental value only.

On the other bit all I would add is ‘be careful who you get into bed with’. I’ll leave it at that.

 

[sitwell]

We really need to hear more from HRH. His failure to put his case forward makes it seem like he has no interest in the club and will be used against him accordingly. It’s like a general election where only one party really campaigns, a bit like the Conservatives last time out.

His failure to ever come to a match makes it seem like he has no interest in the club you mean. He suddenly found time when we played at Old Trafford ,he has about as much interest as my Mrs.

 

[Fraggle Blade]

Can't sell BL or move the club? And HRH agreed to all this initially? Wow! Crab, Crab and A Chaser do his legal work?

Ha ha, no he didnt agree to this originally......this was McCabes answer when being asked about the Prince selling the land and moving the club..............He said...we could add this into the sale contract...so it's not been agreed by anyone.

 

[Fraggle Blade]

Just replying to Luke Shepherds tweet who refers to it

I think McCabes actual words were along the lines of....The Prince hasn't spent the time delving into the Blades and Sheffield, discovering what we're about and what makes us tick etc. so he doesn't fully understand us.
He still seems to think that if the Prince did this and got proper football people around him as advisors, then he could still come good.
Don't know whether that was just him trying to get some face back on partnering with him in the first place.

 

[Worksop II]

Ha ha, no he didnt agree to this originally......this was McCabes answer when being asked about the Prince selling the land and moving the club..............He said...we could add this into the sale contract...so it's not been agreed by anyone.

Princey (or someone) has to pay £5million for the shares, £20 million Compo and further millions for the Real Estate ....

and Kev wants to control what happens to the Club in the Future .... no wonder he cant find a fuckin buyer

 

[Esablade]

Maybe to suss out who was or wasn't a fit and proper person to eventually take over the club?

Perhaps to protect the club from rogue investors who may not have the clubs best interest at heart?

Keeping 50% of the shareholding and inserting clauses which state the assets must leased to the club at a 'peppercorn rent' for 'x' amount of years do that, not separating the properties from the club.

The only reason that was done was to benefit the McCabes, as we're seeing now, to the detriment of the club.

And for that I may or may not give you HRH as an example

McCabe's people state that Princey has no interest in buying the assets.

Prince Abdullah has no interest in Buying the assets (ground, academy etc)

So that's that one blown out of the water.

 

[Darlington82]

I deliberately did not add all the rumour nonsense of building new ground on parkway, just a waste of everyone's time.

 

[Blade58]

Keeping 50% of the shareholding and inserting clauses which state the assets must leased to the club at a 'peppercorn rent' for 'x' amount of years do that, not separating the properties from the club.

The only reason that was done was to benefit the McCabes, as we're seeing now, to the detriment of the club.



McCabe's people state that Princey has no interest in buying the assets.

Prince Abdullah has no interest in Buying the assets (ground, academy etc)

So that's that one blown out of the water.

I think one still has to ask what HRH's motives are?

I also have to ask, why does KM also think that perhaps HRH doesn't have the clubs best interests at heart?

It's still concerning imo

 

[Esablade]

I think one still has to ask what HRH's motives are?

I also have to ask, why does KM also think that perhaps HRH doesn't have the clubs best interests at heart?

It's still concerning imo

Princey can't move the club for 25 years as they are on a peppercorn rent.

25 year lease at low rental rate £250000 per annum- depressed value - atm....Prince sees this is something to maintain rather than buy properties

That being the case, what do you propose his motives in buying the club are?

Why would anyone spend 20 ( 40/60/80!?!?!?) million plus on the assets when this money (if indeed he has it) could be invested in the team?

 

[Boxer Blade]

Kev doesn't know how much the Prince is worth? So I presume he didn't when he sold half the club to him, real gamechanger that has turned out to be.

 

[Blade58]

Princey can't move the club for 25 years as they are on a peppercorn rent.

25 year lease at low rental rate £250000 per annum- depressed value - atm....Prince sees this is something to maintain rather than buy properties

That being the case, what do you propose his motives in buying the club are?

Why would anyone spend 20 million plus with this being the case when this money could be invested in the team?

I don't know

Why does KM believe the Prince doesn't have the clubs best interests at heart?

 

[Esablade]

I don't know

Why does KM believe the Prince doesn't have the clubs best interests at heart?

Were you there?

 

[JayGreen17]

Princey (or someone) has to pay £5million for the shares, £20 million Compo and further millions for the Real Estate ....

and Kev wants to control what happens to the Club in the Future .... no wonder he cant find a fuckin buyer

And that there my friend is exactly why we’re the last big club in the league not to have had a big money takeover, or ever will whilst he and his family have the club by the scruff of the neck.

 

[Worksop II]

I don't know

Why does KM believe the Prince doesn't have the clubs best interests at heart?

I think translated ....
Kev really doesnt think the Prince has Kevs interest at heart

 

[YES Blade]

When all this shite is over and no matter who owns the club, there will still be a Sheffield United Football Club, so I’m pretty relaxed about it.

Whoever owns the club in the end can’t compete with the richest in the Championship so we’ll still be where we are now, hoping Wilder can make a silk purse out of a sow’s ear!

 

[Blade58]

Were you there?

No but this fella was

Did KM not say those words then?


Luke Shepherd@Luke_1889

McCabe said The Prince hasn’t fallen in love with the club or become a Sheffield United fan. Lack of attendance at games is a concern for him. Doesn’t feel he has the clubs best interest at heart #Sufc

 

[robbiez666]

This is the bit I struggle with:

"25 year lease at low rental rate £250000 per annum- depressed value - atm....Prince sees this is something to maintain rather than buy properties"

Am I right in thinking this means the club pays Kev £250k pa for rental on the ground? Or ground and Academy? Presumably we pay all the maintenance and upkeep and not Kev? Much of the investment in both has come through the club.

How much did Kev pay when he took over from McDonald?

 

[Harrisblade]

Princey (or someone) has to pay £5million for the shares, £20 million Compo and further millions for the Real Estate ....

and Kev wants to control what happens to the Club in the Future .... no wonder he cant find a fuckin buyer

How does Kev get to control what happens to the club in the future?

 

[bornablade]

FAO Jim Phipps.

Hi Jim

Hope you are keeping well. Fellow Blades here. Would really appreciate your input into what's going on at BDTBL. You know the two characters involved so your insight and opinions on the whole matter would mean the world to us.
(To be fair most of us are not really bothered unless it starts affecting Chris and his team from achieving our fullest potential)

Yours Fellow Blades.

 

[Esablade]

No but this fella was

Did KM not say those words then?


Luke Shepherd@Luke_1889

McCabe said The Prince hasn’t fallen in love with the club or become a Sheffield United fan. Lack of attendance at games is a concern for him. Doesn’t feel he has the clubs best interest at heart #Sufc

What with the bloke living in Saudi/USA (?) I'm not sure 'lack of attendance' is much cause for concern, do you?

I'm asking you think the cause for concern is?
Previously you implied Princey might be 'rogue owner' who was going to sell the ground.

 

[Fraggle Blade]

Kev doesn't know how much the Prince is worth? So I presume he didn't when he sold half the club to him, real gamechanger that has turned out to be.

McCabe said......people from that area tended to be billionaires rather than millionaires......so that was the due diligence on checking out the Princes financial status.