Ferencvaros plans in confusion

[Foxy]

Sheffield United ambitions to link-up with well-known Hungarian football club Ferencvaros have been thrown into confusion today.

The government in the Eastern European country were yesterday expected to announce formal ratification that the Scarborough Property Group, owned by Sheffield United plc Chairman Kevin McCabe, was the preferred bidder for a multi-million redevelopment of the Ferencvaros stadium and land in the immediate vicinity of the ground.

Significantly, it would have meant a long term association between the Blades and one of the best known names in the Hungarian game, a club which has been struggling with debts for some time.

Mr McCabe said: "We do not understand it. As the only company to submit what was thought to be a qualified bid, together with lodging a bid deposit of HUF 400m, Esplanade Real Estate kft,, which represents Sheffield United FC and the Scarborough Property Group, is extremely disappointed to hear of yesterday's announcements that it had not been successful in its bid

"The announcement contradicts all that has been stated over the last four months by officials and members of the Government and is, in the opinion of Esplanade's Hungarian based executives and Sheffield United, detrimental to the future success and prosperity of Ferencvaros FC.

Directors of Sheffield United - including Mr McCabe - have been in Budapest since last Sunday planning the re-shaping of the club (Fradi), including the early transfer loans of certain United 'overseas players' in order to assist this season's promotion push.

Scarborough representatives have also been in the city working on the re-development proposals including the development of a new stadium.

Directors and officials of Ferencvaros are scheduled to visit United later this month for the FA Cup 4th round match against Manchester City.

Scarborough Property Group, had been invited to tender for Ferencvaros by chairman, Gyorgy Rieb, who heard about Mr McCabe through "word of mouth" because Scarborough has offices in Budapest.

Today Mr. Rieb said" I am very disappointed by the decision. Scarborough and Sheffield United arrived with serious plans, they have teams all over the world, they wanted to build a new stadium and planned international appearances.

"On December 28, 2008, the government (KVI) declared the tender successful, but the current decision has declared the procedure unsuccessful. We don't understand it, we do not understand what has happened."

He added: "We will see in the next days what Scarborough and Sheffield United will do. I trust that they will not let our seven months' work be for nothing."

"A few days ago I would have given a chance of 99.9 percent that everything was all right, I didn't count on this. I am very disappointed."

Hmmmz, interesting and curious!

 

[jodman]

I wonder if this link up could be the reason that our once substantial transfer kitty (direct quote from maccabe on radio sheffield) has seemingly disappeared with very little net spending since we were relegated.

 

[MAQ]

I wonder if this link up could be the reason that our once substantial transfer kitty (direct quote from maccabe on radio sheffield) has seemingly disappeared with very little net spending since we were relegated.

absolutely no connection whatsoever.

The Proposed take over is primarily worked through scarborough properties. Our involvement is simply being a "Parent" club to them. Like Chengdu only closer.

 

[jodman]

absolutely no connection whatsoever.

The Proposed take over is primarily worked through scarborough properties. Our involvement is simply being a "Parent" club to them. Like Chengdu only closer.

Kevin Maccabe is chairman and chief exec of scarborough holdings as well as chairman of sheffield united plc, i think that there is every chance that in order to fund the reported 20 million quid needed to purchase Ferencvaros Kev has had to release less funds to Robson.

This may be a long term success and i actually don't think we need to invest heavily in the playing staff; i'm just offerring a possible explaination to recent claims that we have no cash to spend.

 

[stinkyblade]

Sheffield United chairman Kevin McCabe will not be buying Hungarian club Ferencvaros, it has been confirmed.

McCabe and his Scarborough Holdings company have been considering a buy-out of the financially troubled Hungarian outfit for some time.

McCabe has already set up a working assiociation between Ferencvaros and The Blades, but a takeover has been blocked.

Not buying them now

Full story http://www.skysports.com/story/0,19528,11683_3055023,00.html

 

[MAQ]

i'm just offerring a possible explaination to recent claims that we have no cash to spend.

Where did you hear this?

I havent heard any statement that we dont have any money.

I know that he is chairman and chief exec of both, but he will want both to remain seperate, any smart business man would want to do the same, that way at least if one were to go down, it doesnt take the other.

Of course there will be associations, but they will be just that

 

[jodman]

There hasn't been an official statement that there is no money to spend, the general vibes coming out of the lane leading up to the transfer window were that we would be looking at using the loan market and would have to shift players out to generate money for wages / fees.

As i mentioned earlier, i don't think that major investment is required anyway. I am just surprised that we have spent very little since the chairman came out and said that we had significant cash to spend. Robsons past would suggest he is more then willing to spend every last penny available to him.

Of course we could be close to splashing 6 million quid on a couple of premiership deffenders (whether they are needed or not) which would put and end to the mystery of the disapperaring transfer kitty.

 

[Foxy]

Sounds like we are very much wanted!......

The refusal by the Hungarian government to sanction Sheffield United's link-up with the country most famous club - including the redevelopment of its stadium - has triggered uproar.

Mass demonstrations in Budapest by fans and supporters from other clubs are forecasted over the weekend and Monday. Supporters are 'outraged' over a U-turn of the formal ratification that the Scarborough Property Group owned by Sheffield United plc Chairman Kevin McCabe was the preferred bidder for a multi-million redevelopment of the Ferencvaros stadium and land in the immediate vicinity of the ground.

The growing protests come as Mr McCabe reviews next steps - which may well see an approach by the Hungarian government to see if a settlement can be found.

"Sheffield United has gained a reputation for its business acumen in the world of football and it is therefore understandable why the Hungarian fans want us at Ferencvaros.

"We recognise the potential for links with Ferencvaros provide more opportunities to bring benefits back to the Blades and ultimately the football club. However, we will have to review what has happened, ensuring that our next steps are about our best interests and not to the detriment of the rest of the business."

Mr McCabe continued: "I think we are seen as the saviours of Hungary's biggest and most historic Club. Colleagues in Hungary have told me that news of the refusal has generated public uproar with mass demonstrations being planned for Saturday and Monday.

"It seems all the Hungarian football clubs are together on this. On Monday they want to move with the players, staff and fans to demonstrate in front of the Ministry of Finance. The owner of the rival club Honved has put out a message of support."

The project would have meant a long term association between the Blades and Ferencvaros, a club which has been struggling with debts for some time.

Directors of Sheffield United - including Mr McCabe - have been in Budapest since last Sunday planning the re-shaping of the club, including the early transfer loans of certain United 'overseas players' in order to assist this season's promotion push.

Scarborough representatives have also been in the city working on the re-development proposals including the development of a new stadium. Directors and officials of Ferencvaros are scheduled to visit United later this month for FA Cup 4th round match against Manchester City.

Scarborough Property Group, had been invited to tender for Ferencvaros by chairman, Gyorgy Rieb, who heard about Mr McCabe through "word of mouth" because Scarborough has offices in Budapest. Mr Ryeb said: "On December 28, 2008, the government (KVI) declared the tender successful, but the current decision has declared the procedure unsuccessful, we don't understand it, we do not understand what has happened."