Nigerian Investment?!?!

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linky: http://www.sufc.co.uk/news/article/20120831-scarborough-group-agree-new-funding-344323.aspx

Pastey: Scarborough Group, controlled by the McCabe family, announces that an invitation has been extended to Jacob Esan of Nigeria to become a director of both Scarborough United Group plc (SUG) and Sheffield United plc (SU plc). SUG is a wholly owned subsidiary of Scarborough Group International Ltd (SGIL) which has an 85% shareholding in SU plc, which is the parent company of the famous Sheffield United FC (SUFC).
Mr Esan will be working alongside the McCabes principally to facilitate the provision of capital from Nigeria permitting SGIL via SUG to further expand its businesses in real estate, leisure and services - with Football at its hub. It is envisaged that new funds of up to $500 million will become available within a six to nine month period for SUG to invest in all three business divisions and in particular in SUFC to assist in financing both First Team and Academy football. This is a part of the commitment by the McCabe family and Mr Esan to see the Blades returning to the top echelon of English football at the earliest opportunity. Mr Esan intends also to replicate similar skills and experience in his home nation and Africa in general. He also hopes to secure sponsors for SUFC from Africa.
Jacob Esan commented: "Working with the other members of the Scarborough team to create a major independent group with football as its core branded business, is an exciting challenge which I will relish. Given the anticipated size and scale of the reorganised group - and with it the famous Sheffield United - I believe the opportunity to access capital to advance the business interests in our three divisions - is of great importance. I am committed to expanding all of SUG's off the field activities taking advantage of opportunities available both in the UK and globally as a result of the continuing economic recession."
Jacob Esan, one of Nigeria's leading investment bankers, is the Founder and Chairman of Jacob Esan Plc. a principal investment company. He is currently Executive Director, Investment Banking (Public Sector) at DEAP Capital Management & Trust Plc., a financial services and investment banking company with a focus on fund and portfolio management, issuing house and financial advisory services. Jacob has served with the Central Bank of Nigeria as a lead consultant for the Capital Market framework/strategy and a consultant for the Regulatory Framework/Strategy of the FSS Vision 20 2020; a vision to transmute Nigeria into one of the top twenty economies of the world by 2020. He has also advised several facilitating financial services bodies in Nigeria.
SGIL - the present owner of SUG and ultimate controlling party of SU plc - already holds substantial real estate throughout the UK and internationally with subsidiary associated or connected companies in the Far East, China and Australia. Through other McCabe owned organisations the Group's global reach includes interests in North America, Europe and India.
Kevin McCabe, Chairman of Scarborough, commented: "We are delighted to extend this invitation to Jacob to become a director on the boards of Scarborough United Group and Sheffield United. As a new member Jacob will collaborate with other directors to steer the new Scarborough United Group to attain its strategic goals."
Scott McCabe, Director of Scarborough, commented "Over the course of the last nine months, we have met with Jacob on many occasions and have much recognised his skills and enthusiasm to assist in making the Group, including Sheffield United FC, a success and also in raising funds in Africa and creating opportunities to allow Scarborough Leisure to expand its activities throughout the country and internationally."
 
It is envisaged that new funds of up to $500 million will become available within a six to nine month period for SUG to invest in all three business divisions and in particular in SUFC to assist in financing both First Team and Academy football. This is a part of the commitment by the McCabe family and Mr Esan to see the Blades returning to the top echelon of English football at the earliest opportunity.
Click to expand...

From official site.
 
Oh shit!

Take your pick on the cliche:
- Better the devil you know
- be careful what you wish for

At least they won't have the ground to sell and they can only fcuk up the team!
 
THis doesn't give much away
https://twitter.com/JacobEsan
nor does this waffle
http://ng.linkedin.com/pub/jacob-esan/16/85a/312.

Looks more property investment to me than anything that will benefit the Blades. Perhaps we all read the split between club and PLC the wrong way around. Maybe this investment would only come in if he was certain it couldn't be risked by potential exposure to the club's losses?
 
Come on Tarquin - there's people freely dissing KM without facts here.
 



cynic in me says bye bye maguire... if investment in the 1st team is just round the corner why sell quinny? and this meeting turnover to wages guff doesn't rub either...500m my arse.
 
Torrix1889 said:
Didn't they talk to Robbo and his cronies for about 9 months too....
Click to expand...
No no no, that was the Thais...

Everyone knows the Thais are dodgy, where as the Nigerians.... Oh shite! I hear the conference is quite competitive nowadays and there are lots of new grounds
 
Oughti-blade said:
cynic in me says bye bye maguire... if investment in the 1st team is just round the corner why sell quinny? and this meeting turnover to wages guff doesn't rub either...500m my arse.
Click to expand...

He has been "invited" so nothing signed and sealed yet - The $500 mill is for all the group not just the football club

We'll get tuppence farthing then...


;)
 
funny how this money is coming in just too late for the transfer window. damn such bad luck
 
just got an e-mail fron a bloke in nigeria says if i give im my bank details there's a football club that could be worth millons once he's washed the black die off the paper that his mate needed to get out of the country and is really the deeds to BDTBL.;)
 
If we are talking of up to $500m of investment, why the f'k did McCabe have to move the freehold to the PLC? Surely it would be nothing more than a miniscule irrelevance wouldn't it?

How many Nigerian dollars to the £? :D

Sort of ironic really isn't it? Putting the FFP rules to one side for a minute, the board announce this at the same time as we sell one of our best players! :(
 



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