Great News........

[petcharlie]

Can not believe how far this club has gone in four years.In just a short space of time we have gone from league one to the top half of the prem.Yes we have hit a sticky patch but it will not last for ever.It says so much when we are upset losing to Man U and the Gunners and today when some clubs are on the verge of going in to liquidation we have got back our ground and training facilities .This along with the news we have lost about 30 million due to the virus must effect our buying power regarding signings in the transfer window but we have probably the best manager when it comes to wheeling and dealing on a tight budget.What a good job we are in the prem which is a wash with money otherwise I dread to think of the consequences .Other clubs like our MASSIVE neighbours who have not payed their players their full wages this week must look across the city and with envy .It's all good news and long may it continue and it is all down to our fabulous manager who with out him we could still have been in league one.He is worth his weight in gold and we must remember that when as now we hit a blip.

 

[Pedro Verde]

I find it very interesting that The Prince seems to get a free pass over not buying into the ground originally.

When the Prince first came on board purchasing the ground was not an option as McCabe wanted to keep ownership of the ground as he was our custodian, he didnt want it to fall into the wrong hands. The Prince was brought on board solely to invest in the playing side of things
It obviously didnt work out and under the court ruling the Prince has purchased the ground in accordance of the judgement

 

[Ball_Sup (Phil)]

When the Prince first came on board purchasing the ground was not an option as McCabe wanted to keep ownership of the ground as he was our custodian, he didnt want it to fall into the wrong hands. The Prince was brought on board solely to invest in the playing side of things
It obviously didnt work out and under the court ruling the Prince has purchased the ground in accordance of the judgement

Agreed, The Prince was party to an agreement which split the ownership of the football side & the property side. He has finally found a solution to that anomaly.

 

[bertieblade]

Agreed, The Prince was party to an agreement which split the ownership of the football side & the property side. He has finally found a solution to that anomaly.

Mccabe had previously separated the property from the football club !!!!

 

[Ball_Sup (Phil)]

Mccabe had previously separated the property from the football club !!!!

He He He. I know. You know. The Prince knew. I'm not arguing with you.... I'm on your side.

 

[Keen Blade]

Not sure you're that far off with tbh.

I'm not sure we'll have fans inside stadiums this calendar year so we could probably get the bolt on proposal for the kop completed in this time surely?

With your money ?

 

[Addison]

Late to this party haven’t read the Statement.

Deos this mean the Disputed land around the Kop is now ours or is that still pending?

There is no reference to it in the Statement. As I said on the July 1st thread maybe the good news thats coming is agreement to purchase this.

 

[Keen Blade]

Does anyone know whether the whole £50m had to be paid to Kev today or is it by instalments ?
Does anyone know where the money (£50m or less but still substantial if a first instalment) has been found ?
I mean the Club don't have tens of millions laying around in bank accounts , so it's got to have come from external borrowing or an equity injection by HRH or backers.

 

[Keen Blade]

Does anyone know whether the whole £50m had to be paid to Kev today or is it by instalments ?
Does anyone know where the money (£50m or less but still substantial if a first instalment) has been found ?
I mean the Club don't have tens of millions laying around in bank accounts , so it's got to have come from external borrowing or an equity injection by HRH or backers.

Sorry for inadvertently underlining !

 

[Greasy Chap Butty]

Kop pillars are coming out I'm telling thee, that'll be the good news.

Gerrem 'aht

 

[Greasy Chap Butty]

Does anyone know whether the whole £50m had to be paid to Kev today or is it by instalments ?
Does anyone know where the money (£50m or less but still substantial if a first instalment) has been found ?
I mean the Club don't have tens of millions laying around in bank accounts , so it's got to have come from external borrowing or an equity injection by HRH or backers.

Prince had made a killing from all the bog roll hoarders, so just paid it cash.

 

[Addison]

Aye I know, but I find it confusing. The FC in essence owns fk all. HRH owns the lot so why say the FC owns the stadium?

Sheffield United Football Club Limited is wholly owned by Blades Leisure Limited the company the Prince acquired a 100% stake in following the Court ruling. BLL was originally set up by Kevin McCabe and the Prince in 2013 under the terms of the Investors Share Agreement. Following to-days Club statement SUFC Limited now own the properties including the stadium. The Prince is presently the owner of both companies. Whether they will now merge into one as a consequence of to-day remains to be seen.

 

[bertieblade]

I assume McCabe will receive all the monies up front but we will have taken out a loan secured against Assets and future income

 

[Upton_Blade]

With your money ?

No with the prince's money or are you one of the "we must flatten the kop and start again" brigade?

Not sure what it not being my money is relevant to?

If we are going to lose money by redeveloping the stand then why not when fans can't attend? Would you rather we did it in normal times meaning some of the fans on the kop are denied entry for a period?

 

[Keen Blade]

No with the prince's money or are you one of the "we must flatten the kop and start again" brigade?

Not sure what it not being my money is relevant to?

If we are going to lose money by redeveloping the stand then why not when fans can't attend? Would you rather we did it in normal times meaning some of the fans on the kop are denied entry for a period?

Any spare money should be spent on the squad so we have a chance of PL survivorship , not on the ground.

 

[Varkanoid]

Since HRH arrived its like the shackles are slowly being removed from the club and we are going in the right direction. This is another step and it sounds like there is more to come. The Prince getting one step closer to Na Na Na Na, He's a Blade and he's a blade

 

[nopigfansintown]

I mean. We're supposed to celebrate are we? The Football Club has got to a position of owning our ground. You know - like the vast majority of Football Clubs always have. You know - like we ourselves always did. This was the position up until the day before The Prince arrived. We owned our own ground - paaaauuuusssse - we own our own ground. Whoooooopeeeee.

You are correct: this was a deal that was mutually agreed by McCabe and the Prince. It was the Prince that attempted to bypass buying the property assets as per the terms of the original agreement - something that still concerns me tbh.

Thankfully, the court judgement made it very clear that the Prince's intention of owning 100 percent of the football club, could only become reality if he forked out for the property assets (as per the terms of the original agreement between himself and McCabe). The McCabe end of the deal was deliberately set up so the Prince could not become the 100 percent owner of the club, without first becoming 100 percent owner of the property; and vice versa.
If McCabe won the court case in all aspects (it could be said that the Prince 'having' to buy the property against his original intention, represents a partial victory) McCabe would've had to unite the football club to the property to reclaim his 100 percent shareholding.

It's a matter of public record that Premier League monies will be diverted in order to purchase club properties for the Prince. To be fair to the Prince, he was very transparent about this intention at the fan's forum shortly after the court judgement. Wilder's words re next season's player budgets in the press over the last few weeks underline that the Prince's intentions haven't changed.

Like Phil, I'm much more comfortable the property and football club being owned by one entity. It should be impossible for it to be otherwise imo. That said, is that the case given the parcels of land at the back of the Kop? We need clarity on who owns that; if it's not the football club the Prince has to find a resolution in order to own it again. Any other brick and mortar development isn't as important as acquiring this land. The incendiary club statement on this issue makes that clear That said, the manager has made it very clear that he wants to see a new training ground, a category one academy and ground developments. The Prince's legacy will be determined by the extent to which he fulfils this vision.

 

[diode_blade]

But but who owns the freehold?
I'll get me coat..

Dtaxis

 

[diode_blade]

new training ground? Messi signing

Why the would we buy banannaanna

 

[spongebobblade]

The Prince looked at Leeds Utd and was prepared to buy the whole club, lock stock the lot but felt they were over priced so pulled out. No reason to think he didn't want the same deal here.

Doesn’t Leeds City Council own Elland Road and the Thorp Arch training ground? I’m sure the council bailed them out when they almost went bust thanks to the overspending of Risdale and co which may also explain the lack of stadium investment. With the exception of the main stand Elland Road is starting to look very dated and shabby

 

[oohaah]

You are correct: this was a deal that was mutually agreed by McCabe and the Prince. It was the Prince that attempted to bypass buying the property assets as per the terms of the original agreement - something that still concerns me tbh.

Thankfully, the court judgement made it very clear that the Prince's intention of owning 100 percent of the football club, could only become reality if he forked out for the property assets (as per the terms of the original agreement between himself and McCabe). The McCabe end of the deal was deliberately set up so the Prince could not become the 100 percent owner of the club, without first becoming 100 percent owner of the property; and vice versa.
If McCabe won the court case in all aspects (it could be said that the Prince 'having' to buy the property against his original intention, represents a partial victory) McCabe would've had to unite the football club to the property to reclaim his 100 percent shareholding.

It's a matter of public record that Premier League monies will be diverted in order to purchase club properties for the Prince. To be fair to the Prince, he was very transparent about this intention at the fan's forum shortly after the court judgement. Wilder's words re next season's player budgets in the press over the last few weeks underline that the Prince's intentions haven't changed.

Like Phil, I'm much more comfortable the property and football club being owned by one entity. It should be impossible for it to be otherwise imo. That said, is that the case given the parcels of land at the back of the Kop? We need clarity on who owns that; if it's not the football club the Prince has to find a resolution in order to own it again. Any other brick and mortar development isn't as important as acquiring this land. The incendiary club statement on this issue makes that clear That said, the manager has made it very clear that he wants to see a new training ground, a category one academy and ground developments. The Prince's legacy will be determined by the extent to which he fulfils this vision.

Very clearly put, thank you. This my view on this...

McCabe knew that the Prince didn’t have the means to buy the property options, hence the low offer of £5 million. The Prince tried to get round this by performing this share transfer, saving himself about £25 million on the options and we get stalemate and court cases. Fast forward a couple of years and the club gets promoted the options are now worth £50 million which the Prince can afford due to sitting on a wedge of Premier League money.

So to summarise....

McCabe gets roughly double what he would have got had the Prince paid up straight away.

The Prince ends up owning a Premier League club that he couldn’t afford when it was half the price and in the Championship .

We get Premier League football with Chris Wilder as manager.

No losers here really, turned out fine in the end.

 

[nopigfansintown]

Very clearly put, thank you. This my view on this...

McCabe knew that the Prince didn’t have the means to buy the property options, hence the low offer of £5 million. The Prince tried to get round this by performing this share transfer, saving himself about £25 million on the options and we get stalemate and court cases. Fast forward a couple of years and the club gets promoted the options are now worth £50 million which the Prince can afford due to sitting on a wedge of Premier League money.

So to summarise....

McCabe gets roughly double what he would have got had the Prince paid up straight away.

The Prince ends up owning a Premier League club that he couldn’t afford when it was half the price and in the Championship .

We get Premier League football with Chris Wilder as manager.

No losers here really, turned out fine in the end.

Exactly.

 

[metalblade]

Doesn’t Leeds City Council own Elland Road and the Thorp Arch training ground? I’m sure the council bailed them out when they almost went bust thanks to the overspending of Risdale and co which may also explain the lack of stadium investment. With the exception of the main stand Elland Road is starting to look very dated and shabby

I'm fairly sure these present scum owners bought Bellend road stadium and the training ground back from Leeds council.
Back to SUFC our Kev had asset stripped SUFC long before the Prince was even thought about. That was always his intention to make sure he got his money back on his investment or a large part of it. And he is still squeezing the clubs balls with the two little bits of land behind the kop. Kev's got his money back but still wants more if we were still in league one he would be well happy but that bastard Wilder went and got us into the Premier league. What was a very good price for a league one club is peanuts for a Premier league outfit that is the reason McCabe is smarting. I don't quite see how the Prince could have invested in the infrastructure when it was never on the table from the start he was only ever offered the opportunity to invest in players something McCabe was reluctant to do.

 

[singaporeblade]

Yep. I get that. But, I also get that The Prince is a big boy, making free choices, for which he can be criticised. He chose to buy into the football side & not the property side. You buy what you buy

As already stated, he bought into something that was available at the time. An attempt to shaft him ended up him winning the court case. Subsequently and pretty rapidly -bearing in mind the usual snail's pace these purchases can take at the best of times - he has bought the land, hotel and training ground without too much fuss.

 

[singaporeblade]

There was a period where one thing (call it McCabe) owned both the football side & the property side.
Then there was a ridiculous period where two things (call them McCabe & The Prince) owned different bits of different parts of the football side & the property side. As fully agreed by BOTH the two things.
And, now, we are, thankfully, back to the original position of one thing (call it The Prince) owning both the football side & the property side.
It's good, but it's nothing new

But it is new. It is different to what it was last week and we can now hopefully move forward with further investment to the training ground, stadium etc.,

 

[CoatesyBlade]

£100m kitty this summer?

I prefer the term ‘War Chest’ haha

 

[Ball_Sup (Phil)]

As already stated, he bought into something that was available at the time. An attempt to shaft him ended up him winning the court case. Subsequently and pretty rapidly -bearing in mind the usual snail's pace these purchases can take at the best of times - he has bought the land, hotel and training ground without too much fuss.

I get it. We're playing with words. I prefer The Prince signed a deal keeping the ground ownership separate. I prefer The Prince was party to a continued arrangement to keep the ground ownership separate. I prefer The Prince was happy to maintain a partnership whereby the ground ownership would be separate. And The Prince FanBoys prefer McCabe forced The Prince to not buy into the ground. I really do get it. Words are being played with. And I'm a willing player. (Unlike The Prince who did not willingly ..... Insert Punchline)

 

[LoughboroBlade]

Stadium expansion, & any developments to the Kop, are dependent on the club bringing the parcels of land behind the Kop into their ownership. These are still owned by McCabe & will be resolved through arbitration.

Under the current approved Kop plans, those parcels of land were to be separated off the Kop development with residential properties built on them. They do not, from the planning, look like they affect any of the Kop land. While obviously owning them would be better in the long run, ownership of them shouldn’t be a prerequisite for developing the stand.

 

[Deaneandagana]

I assume McCabe will receive all the monies up front but we will have taken out a loan secured against Assets and future income

Or alternatively we’ve used the JOC transfer fee to pay KMc

 

[benn5712]

Today's word

Reintegr8