McCabe's Blades Move

All advertisments are hidden for logged in members, why not log in/register?

Monty's_Girl

Monty's_Girl

Active Member
Joined
Aug 13, 2007
Messages
1,846
Reaction score
80
Location
Gleadless
Taken from Sky Sports :)

Kevin McCabe is bidding for full control of Sheffield United and to remove the club from the stock market.



The Blades chairman's Scarborough Group Holdings currently possesses 75.17 per cent shares in the Championship club, who narrowly missed out on the play-offs last season.


McCabe and members of his family now plan to underwrite an equity fundraising and make a cash offer for the remainder of the shares in the business.


No formal offer for the remaining stock has been made, with negotiations at an early stage.


But if the acquisition proves a success, McCabe, who outlined his plans to the board at a meeting on Thursday, hopes to save money by delisting the company who own the club, Sheffield United plc.


The proposal also includes plans to separate the football side of the business from property interests, to guard against the impact of a depressed market
 



De listed from AIM

Now the first part of the jigsaw McCabe announces de-listing from AIM
 
From the Star.........

KEVIN McCABE, Sheffield United's major powerbroker, has announced his intention to return the club to private ownership.

In a statement delivered to the London Stock Exchange, United's plc chairman ended 11 days of speculation by confirming an approach will be made to the Championship outfit's remaining shareholders.

Earlier this month McCabe's company Scarborough Group Holdings raised its stake in United to 75.17 per cent when it purchased nearly 20m shares, including 14m previously held by director Mick Dudley.

That prompted city analysts to predict that a attempt to de-list United was imminent and, last night, that scenario became a reality.

McCabe plans to underwrite an equity fundraising and make a cash offer for the remainder of the shares although, with negotiations still at an early stage, a formal offer is yet to be forthcoming.

The proposal also includes plans to separate the football side of the business from property interests to protect United from the impact of depressed financial markets.

The development, which could see Bramall Lane follow in the footsteps of Premiership heavyweights like Manchester United and Chelsea, continues a trend which has swept through English football in recent seasons.

Experts believe the move would give McCabe greater control over United's affairs by stripping away some of the bureaucracy associated with public limited companies.

Meanwhile, United defender Gary Naysmith won his 40th cap for Scotland during their 3-1 defeat by the Czech Republic last night.
 
silverfox said:
From the Star.........

KEVIN McCABE, Sheffield United's major powerbroker, has announced his intention to return the club to private ownership.

In a statement delivered to the London Stock Exchange, United's plc chairman ended 11 days of speculation by confirming an approach will be made to the Championship outfit's remaining shareholders.


McCabe plans to underwrite an equity fundraising and make a cash offer for the remainder of the shares although, with negotiations still at an early stage, a formal offer is yet to be forthcoming.

How low can i offer ?

The proposal also includes plans to separate the football side of the business from property interests to protect United from the impact of depressed financial markets.

Is this a joke ?

Experts believe the move would give McCabe greater control over United's affairs by stripping away some of the bureaucracy associated with public limited companies.

Do what he wants.
Click to expand...

Wonder who the new investors will be?
 
How low can i offer ?
Click to expand...

Surely he'll have to pay exactly what they are worth or more? I don't think any of the small shareholders expected to make any sort of profit on them. If they did, then they deserve to lose money! :D

Is this a joke ?
Click to expand...

Would you rather the PLC lost money effecting the club? There is without doubt another reason behind it, but the official line is a realistic and expected one.

Do what he wants.
Click to expand...

I believe that's the level of choice you get when you effectively own a club, don't like it? buy him out!

I still trust him to do the right thing to take the Blades forward personally.
 
I'm fully behind him. I also think he'll make a very good offer to the small shareholders.
 
Well his offer will be 'take it or leave it', thats the rule sof the game I'm afraid
 
seemingly a new share issue of around £12mil.

Doesn't want to take it private as such, just de-list.
 
Has McCabe got money troubles ?

Copied from a share dealing site:

Well spoke to my broker and he said it will depend on mkt price at date of delist, note the point that no one will be buying until then why would you and sells from now till that date will reduce price and therefore at close they may add a premium at what price ? or maybe not ?
He has recommended to sell mine which I have put an AT on them should they drop below a 9p bid, but have noticed 20,000 + been dumped already this morning and down 5%.
I feel robbed by mcabe, truth is his property company is shot and is bailling out he has no money.

Oh...... seems like its bad news for smaller shareholdes but we are to get a letter of appreciation and a club rosette :rolleyes:
 
beightonblade said:
Has McCabe got money troubles ?
Click to expand...

The only troubles he has is other people telling him how he should be spending it.

I wouldn't be entirely surprised if it isn't long before he effectively becomes a billionairre. He's getting himself in interesting positions in many companies which are due massive windfalls from property sales/floatation.

I feel robbed by mcabe, truth is his property company is shot and is bailling out he has no money.
Click to expand...

First off, if he had anywhere near as many shares as he infers... he should know how to spell the guys name when critisising him.

Secondly, how exactly would Mr McCabe be considered "robbing" him?

He sounds as if he really thought he'd make money from these shares, rather than being annoyed at losing his token shareholding.

Mr McCabe and his family have been lifelong blades, have invested heavily in United and in my opinion will have connections with the club either via Kevin, Simon or any other member of the family for a long time coming. He has a history of shrewdly looking after the Blades and being a major part in our recent turnaround in stability....

What makes certain people so convinced he's going to change the habit of a lifetime and screw us over??? Not that whatever he does isn't totally his choice however, having put himself in a position to be able to do so ;)
 



Hey i'm only the messenger !

I am aware of McCabes Chinese investments and potential, his recent sale to Valad and would have thought he had a few quid but some people think he's in trouble. :cry:
 
A few more thoughts from shareholders.


It all looks like a job to secure him self more money from the club.
I have been a life long fan and have a sizable holding in shares.
All i can see is that he is trying to delist, to sell at a premium.
I will not be happy one bit if I get shafted, not thate MCabe's bothered.
I'm sure we'll find out soon enough.

and

Coming from N Ireland, I am not a life long fan off Sheffield United, however, having held shares since the days of Nigel Spackman, I have developed an attachment to the club, both as an investor and "international" supporter.

I think a lot of mistakes (like with most clubs) have been made over the years and think Sheffield United should by now be a regular team in the premier league.

I dont doubt McCabe's efforts and passion for the Blades, but I am concerned about the motivation behind this attempt to buyout the club.

It is correct to say that listing on the stockmarket brings with it additional costs that other clubs do not have to pay, but it also brings other opportunities to the club (including the abiliity to raise funds from time to time through placing shares).

I would have thought that it shouldn't be too difficult to attract a big investor (with deep pockets) to a club like Sheffield United - Big city, passionate and large supporter base, good infrastructure, ground and academy.

Any investor would be able to snap up the Blades for a good price, which would be at a considerable premium to the current shareprice. That way, we would achieve something for our support and patience and so would Kevin McCabe.

If he succeeds in taking the club private, I wouldn't be surprised to see a takeover at a much bigger relative price to now - and we know who the only winner will be then.

Up the Blades!
 
beightonblade said:
A few more thoughts from shareholders.


It all looks like a job to secure him self more money from the club.
I have been a life long fan and have a sizable holding in shares.
All i can see is that he is trying to delist, to sell at a premium.
I will not be happy one bit if I get shafted, not thate MCabe's bothered.
I'm sure we'll find out soon enough.

and

Coming from N Ireland, I am not a life long fan off Sheffield United, however, having held shares since the days of Nigel Spackman, I have developed an attachment to the club, both as an investor and "international" supporter.

I think a lot of mistakes (like with most clubs) have been made over the years and think Sheffield United should by now be a regular team in the premier league.

I dont doubt McCabe's efforts and passion for the Blades, but I am concerned about the motivation behind this attempt to buyout the club.

It is correct to say that listing on the stockmarket brings with it additional costs that other clubs do not have to pay, but it also brings other opportunities to the club (including the abiliity to raise funds from time to time through placing shares).

I would have thought that it shouldn't be too difficult to attract a big investor (with deep pockets) to a club like Sheffield United - Big city, passionate and large supporter base, good infrastructure, ground and academy.

Any investor would be able to snap up the Blades for a good price, which would be at a considerable premium to the current shareprice. That way, we would achieve something for our support and patience and so would Kevin McCabe.

If he succeeds in taking the club private, I wouldn't be surprised to see a takeover at a much bigger relative price to now - and we know who the only winner will be then.

Up the Blades!
Click to expand...

another "big invester" that doesnt know how to spell Kevins name
 
Just got my letter basically telling me I will have to sell my shares when they say they want to buy them. Still the extra bit of money will always come in useful!!!!
 
beightonblade said:
...and we know who the only winner will be then.
Click to expand...

See, particularly the quote from this last chap made me chuckle.

He obviously bought shares, not because he was a fan of the club, like most "normal" people, but because he thought he was going to make a profit in those halcyon days of the 90s when football was being bigged-up as ripe for people to come in, make big money, and then bobby off.

Many people only buy shares in the club because they are fans, not because they expect to make a profit off them. This laddo did think he was going to make a profit and now just seems bitter that he isn't the "winner" and as for what he thinks, I couldn't give a toss.
 
The bit about "having held shares since the days of Nigel Spackman, I have developed an attachment to the club" nearly made me shit myself laughing! What a reason to become a fan of a club!! :D:D:D
 
You must log in or register to reply here.

Similar threads

JayGreen17
Get Rid of COH
2 3
Replies
81
Views
6K
Silky Sabella
S
Kozzy_is_my_Dad
Where has it started to go wrong?
Replies
27
Views
3K
Tom Bott
Tom Bott
jono_t2000
Where to from here
Replies
7
Views
1K
Toto
T
T
Moving on…
2 3
Replies
87
Views
7K
Booker4
Booker4
Balham
Pre-match presser: Ipswich Town (a) 12/09/2025
Replies
21
Views
2K
Kenilworth
Kenilworth

All advertisments are hidden for logged in members, why not log in/register?

All advertisments are hidden for logged in members, why not log in/register?

Back
Top Bottom