Ownership developments

[TJB.]

McCabe continues to outdo himself. His biggest fuck up to date. And there’s been a few.

McCabe is no angel but I genuinely don't believe this is his fault. It sounds like his supposed business partner has tried to fuck him over.

Better the devil you know in this case. His Royal Quietness has been silent for five years whilst he served in government. There's no Phipps, no Baki, nobody at all speaking to the fans from that side of things about any of this.

"We want to own your club but we don't wish to address this matter or, frankly, talk to you at all"...good mantra?

The radio silence coupled with the fact he's attempted to shaft a fellow co-owner so he can pick us up on the cheap (and that's on paper, not an opinion) leads me to feel this guy might not be who we want holding the reins. McCabe has at least had the decency to tell us a little of what's going on.

Ideal scenario is we finish strongly in the Championship this season, McCabe wins back control of the club and immediately sells us on to someone else. Just as long as he hires someone who knows what they're fucking doing to oversee the sale. It could well be that it's another case of 'rotten luck' to coin one of his frequently used terms, or it could be that in reality, he's a fucking woeful judge of character and he might want to let someone else sort out a sale for him.

McCabe's biggest fuck up was appointing Robson, in my opinion. Still grates a bit just thinking about it.

 

[zablade]

Kev doesn't get investors in = He won't sell / he has no ambition / he wants to pocket all the cash

Kev gets an investor in = Messed up again

#Agendatime

Well he has messed up. No two ways about it.

 

[SwitchBLADE Smiles]

Probably explains where the rumours about Kev wanting new backers in came from.

 

[Revolution]

And yet again those owning the club are busy fighting amongst themselves.

It will be a miracle if this club ever gets back in the PL.

 

[Harry's Game]

McCabe is no angel but I genuinely don't believe this is his fault. It sounds like his supposed business partner has tried to fuck him over.

Better the devil you know in this case. His Royal Quietness has been silent for five years whilst he served in government. There's no Phipps, no Baki, nobody at all speaking to the fans from that side of things about any of this.

"We want to own your club but we don't wish to address this matter or, frankly, talk to you at all"...good mantra?

The radio silence coupled with the fact he's attempted to shaft a fellow co-owner so he can pick us up on the cheap (and that's on paper, not an opinion) leads me to feel this guy might not be who we want holding the reins. McCabe has at least had the decency to tell us a little of what's going on.

Ideal scenario is we finish strongly in the Championship this season, McCabe wins back control of the club and immediately sells us on to someone else. Just as long as he hires someone who knows what they're fucking doing to oversee the sale. It could well be that it's another case of 'rotten luck' to coin one of his frequently used terms, or it could be that in reality, he's a fucking woeful judge of character and he might want to let someone else sort out a sale for him.

McCabe's biggest fuck up was appointing Robson, in my opinion. Still grates a bit just thinking about it.

Should he not have scrutinised the small print first? He made big play when the Prince came onboard that he had taken time to ensure this was the right deal for the club he loves. This comes across as a huge error and is jeopardising wasting a great opportunity a once in a generation opportunity under CW

 

[HoodedClaw]

Another fine mess brought to us by Mr Kevin McCabe esquire.

But hey we’re Lucky to have him aren’t we?

Not sticking up for McCabe, just curious if you want anyone but him or has the Prince shown you he can take us forward?

 

[I should coco]

Should he not have scrutinised the small print first? He made big play when the Prince came onboard that he had taken time to ensure this was the right deal for the club he loves.

Yes because nothing ever changes in business. Never.

Four years down the line, why didn't McCabe realise the Prince wanted to buy him out for a song? Does he not know that Gypsy Rosie Lea on Blackpoool seafront could have foretold him this would happen? What a fool he is.

#AllKev'sfaultagain

 

[Addison]

I got told something along these lines.

The prince had an agreement to buy the club this summer, fearing we got promotion and the value would shoot up, he refused to match what Kev wanted to put in in January.

Basically he wanted to ensure he could buy us as cheap as possible.

How true this is I've no idea. Although it came from the same person who told me in early June Brooks was going to Bournemouth for £12m

If there was an agreement for the Prince to buy the Club this summer it would have been referred to in the Judges ruling, it wasn't.

 

[zablade]

Not sticking up for McCabe, just curious if you want anyone but him or has the Prince shown you he can take us forward?

Neither fill me with much confidence. With Kev it’s going bumbling along being a version of Barnsley and yo-yo ing from champ and League one.

The Prince hasn’t appeared that interested in taking us much further forward either.. but then who brought him on board with much fanfare about it being game changing.

 

[ElephantBlade]

And yet again those owning the club are busy fighting amongst themselves.

It will be a miracle if this club ever gets back in the PL.

As an Atheist, even I'm starting to hope for Divine intervention.

 

[HoodedClaw]

I have also heard a second hand rumour from our medical staff that he is not quote fully recovered from the Glandular Fever. This is part of the reason that £12m is felt by the club to be a good deal in the circumstances.

I'm just saying what I've heard. I'm sure there will be an alternative version of events to 'proove' how badly we undersold him.

Here's a bit more about how it affected Heather Watson a few years ago:

"Sweden’s Robin Soderling, a recent world No 4, has not played for nearly three years following his diagnosis, while the illness ended the career of Croatia’s Mario Ancic, a former world No 7."

https://www.independent.co.uk/sport...fter-contracting-glandular-fever-8558897.html

It got me thinking that it also made Brooks think he's got to maximise his earning now as you never know what may happen.

 

[Maidenhead]

https://www.thestar.co.uk/sport/she...at-a-preliminary-high-court-hearing-1-9242353

"Sheffield United Ltd says that in real and practical terms it is necessary, to maintain and improve the standards of the football club and its prospects of further promotion and to honour an assurance previously given to the club's manager that an additional £2 million would be available in the transfer window to improve the squad," he added. "UTB says that in purely financial terms it is not necessary and that in any event the cash flow properly analysed does not show that the injection of further capital is needed to fund such expenditure."




McCabe said we needed to put £7m in to progress. (Sheffield United Ltd being McCabe's company)

The Prince disagreed.

Pretty clear to me which one doesn't wasn't to invest any more.

 

[I should coco]

I'm starting to hope for Divine intervention.

Could be a bit difficult being as how he's been pushing up the daisies for a few years:

 

[LJBlade]

If it's got as far as court it's no wonder Wilder was so unhappy with what was going on behind the scenes.
How you properly budget for players when the owners are in such a dysfunctional state, god knows.
Hard to see how the club can possibly succeed on the pitch next season when we've managed to get ourselves in such a mess off it again.
Wilder's going to have to work miracles.

Something not quite right and Len is back again, like a pig in shit.

 

[LJBlade]

I could easily be wrong, just an opinion, but I look at the filing history and try to explain it to myself.

All seemed well up to around Aug 2017 when the parties appear to buy £5.2 million of new shares. Notice how Kev terminated his directorship around that time. My guess is sometime afterwards they had a discussion about something, possibly the budget for the 2018 JTW, didn't agree and notice how Kev came back in as a director in December.

Circumstantial stuff all points in one direction for me but it is just speculation and not based on facts and I'm not ITK.

Difficult to look at the timings and think it was the other way around for me. Notice who started stuff first at year end and then who reacted.

https://beta.companieshouse.gov.uk/company/06963761/filing-history

None of that has anything to do with or even remotely explains 'why Brooks was sold'.

 

[LJBlade]

I read that as Kev wanting to put something in and Prince not liking it and then Kev wanting to get him out.

Just from the way it's written obviously I don't know nowt.

As for the Prince having the option to buy out being part of his agreement to buy half the club from an old geezer who had previously resisted relinquishing control I imagine. Kev had found the right investor so obviously wouldn't mind him taking complete control when he retires but then they started arguing.

On first reading I also took it to mean that McCabe wanted to put more in and the Prince wouldn't do the same. However, that doesn't fit with why McCabe brought the Prince onboard in the first place.

 

[TJB.]

A brief guide to Unfair Prejudicial Condict (McCabe's counter claim).

https://www.ashfords.co.uk/news-and-events/general/guide-to-unfair-prejudice-against-shareholders

Only had a brief scan but this part stands out...

'...if the conduct is in accordance with the Articles, to which the shareholder has agreed, it will be more difficult to succeed with an unfair prejudice petition.'

It could all depend on this 'manoeuvre' HRH pulled. If this and all other conduct was fine by the terms of the actual agreement between the two parties, it's difficult to see what Kev's case might be. But that particular claim seems alarmingly broad, particularly with regards to what is seen/defined as 'unfair'.

Saddle up. This will be a long ride indeed.

 

[HoodedClaw]

Neither fill me with much confidence. With Kev it’s going bumbling along being a version of Barnsley and yo-yo ing from champ and League one.

The Prince hasn’t appeared that interested in taking us much further forward either.. but then who brought him on board with much fanfare about it being game changing.

McCabe has said that he want sout as he can't take us forward, it's unbelievable how much things have changed money wise in the Championship in the 6 years we were in league 1.

The silence ffrom the price does really concern me, so I'm hoping McCabe wins and has some wealthy buyers waiting in the background.

 

[Maidenhead]

The silence ffrom the price does really concern me, so I'm hoping McCabe wins and has some wealthy buyers waiting in the background.

I believe that to be the case.

I also heard some time ago that this dispute was unlikely to get to court this year but my contact made it clear that he was telling me in confidence so I kept to myself.

Now we all know.

 

[HoodedClaw]

https://www.thestar.co.uk/sport/she...at-a-preliminary-high-court-hearing-1-9242353

"Sheffield United Ltd says that in real and practical terms it is necessary, to maintain and improve the standards of the football club and its prospects of further promotion and to honour an assurance previously given to the club's manager that an additional £2 million would be available in the transfer window to improve the squad," he added. "UTB says that in purely financial terms it is not necessary and that in any event the cash flow properly analysed does not show that the injection of further capital is needed to fund such expenditure."




McCabe said we needed to put £7m in to progress. (Sheffield United Ltd being McCabe's company)

The Prince disagreed.

Pretty clear to me which one doesn't wasn't to invest any more.

Thats interesting, certainly puts the Prince in a bad light

 

[HoodedClaw]

I believe that to be the case.

I also heard some time ago that this dispute was unlikely to get to court this year but my contact made it clear that he was telling me in confidence so I kept to myself.

Now we all know.

Hope they're willing to wait

 

[The Crab]

Personally I'm not interested in pointing a finger of blame at any one individual, and apart from what I've seen on various social media from the more reliable sorts, I'm not party to any inside knowledge.

I do find it incredibly frustrating, however, that almost every time we get a good manager and things are heading in the right direction on the pitch, ownership and boardroom issues seem to come to the fore.

 

[Esablade]

Two things from this:

1. For whatever reasons it looks like McCabe welched on a deal with Princey re: him taking over the club.

2. From this:

A trial is not expected to take place for some time but Mr Justice Fancourt had been asked, at a preliminary hearing in June, to make decisions relating to how the club would be funded during the first half of the 2018-19 season.

It look’s like Wilder doesn’t/didn’t have any cash to bring players in ( Maybe the Brooks money has gaurenteed/freed up his budget)

It’s anothrr Blades fuck up fo-sho.

 

[Cerberus Blade]

Rob Staton just posted no news waffle that has been rehashed in The Stir. You know things are a bit slow on the football front at both clubs when the local hacks are just repeating information everyone has known for a while.

I must admit, it was news to me about the disagreement (or at least a main part of it) being about transfer monies, or about it going to the High Court. I also didn't know that HRH had triggered "a manoeuvre" which technically could force McCabe to sell his shares at a knockdown price.

I just thought they didn't like each other.

 

[Maidenhead]

A brief guide to Unfair Prejudicial Condict (McCabe's counter claim).

https://www.ashfords.co.uk/news-and-events/general/guide-to-unfair-prejudice-against-shareholders

Only had a brief scan but this part stands out...

'...if the conduct is in accordance with the Articles, to which the shareholder has agreed, it will be more difficult to succeed with an unfair prejudice petition.'

It could all depend on this 'manoeuvre' HRH pulled. If this and all other conduct was fine by the terms of the actual agreement between the two parties, it's difficult to see what Kev's case might be. But that particular claim seems alarmingly broad, particularly with regards to what is seen/defined as 'unfair'.

Saddle up. This will be a long ride indeed.

Could it be that Kev wanted to invest last January but the Prince refused as promotion would mean that he would have to find a lot more dosh to buy the club?

I say that in light of the article today saying that The Prince didn't see any need for further investment in the team this summer, and it would fit the bill for an unfair prejudice petition.

 

[Booker4]

I wish we didn't hear any updates in many ways over this ongoing saga. Essentially we can only speculate why there have being disagreements and ultimately the last we knew was that the Prince and McCabe had agreed a transfer budget for this summer that satisfied Wilder - at least in terms of it provided certainty that seemed to be previously lacking. Then we hear today that the two owners have argued about the transfer budget for this window which is somewhat confusing unless the Prince and McCabe agreed it but ultimately through gritted teeth or as a compromise etc.

I'd rather not hear anymore to be honest, it just unsettles everyone and is even more annoying when there isn't any updates as such, other than the process won't be sorted till the court case which will probably be next year.

 

[TJB.]

If there was an agreement for the Prince to buy the Club this summer it would have been referred to in the Judges ruling, it wasn't.

Perhaps it wasn't a written agreement but was certainly in the Prince's plans, and McCabe was aware of this intention?

Basically what Maidenhead has said here...

Could it be that Kev wanted to invest last January but the Prince refused as promotion would mean that he would have to find a lot more dosh to buy the club?

 

[TJB.]

McCabe said we needed to put £7m in to progress. (Sheffield United Ltd being McCabe's company)

The Prince disagreed.

Pretty clear to me which one doesn't wasn't to invest any more

At least for the time being...

 

[Maidenhead]

At least for the time being...

Agreed, but hardly looking after the best interests of the club.

 

[MightyBlades]

Yep!

Reading that 2nd Star report by James Shield and not the 1st Star report on the matter, it looks like the Prince is pulling a fast one and is refusing to put any more funds into the club, whilst McCabe is pushing for more funds to be made available to the manager, to spend on new recruits this Summer.

McCabe has also requested through the courts that the Prince's company fund Wilder's recruitment drive with an interest-free loan, which McCabe has also said that he would match £ for £. The Prince refused to do so.

I've not taken sides in all these ownership wranglings, until now. But is seems pretty clear that McCabe is doing all that he can to do the best for Wilder and to push the club forward as a whole. Once a Blade, always a Blade, and all that.

The Prince however, is just a hard-nosed businessman, who has seen an opportunity to make some fast cash, at the expense of his previous business partner. He has no true allegiance/roots to the club and I believe is in it purely for the money and the glory. McCabe saved this club when it was on its knees don't forget, and spent a small fortune to bring the ground and training facilities up-to-date, at massive expense to himself. McCabe only wants the best for the club and wants to see it succeed for all the right reasons. It is the football club that he has supported all his life, from being a small boy growing up on Shoreham Street. McCabe is a true Blade, just like you and me, not some pseudo fan who has suddenly dropped in during the interval of an NFL 49'ers match.

I know who I want to come out on top in the current legal shenanigans, and it ain't the prince.