Prince is taking over

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12 pages in and I’ve just seen this. Looks to me like 2 factors are involved:

1) McCabe (quite rightly) is looking to retire and has a trusted partner to sell to.

2) Prince has or will negotiate a decent price for it to be worth his while to take over the remaining shares.

For all of the shareholding and intercompany who owns what shite I’ll await the accounts in a year or two but hopefully this is a positive thing and McCabe wouldn’t hand us over to a lunatic.
 
AnotherBlade said:
Jimbo hasn't tweeted a sausage since 27th December?
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Sorry, just asked the wife, it is on Facebook, one hour ago, from Jim's account, saying (something like)

"I am glad the statement is now out there, thank you Kevin McCabe for all you have done, god bless, thank you Prince Abdullah for all you have done, good luck for the future, UTB"

Might not be 100% same words, but that is pretty much what she read out to me
 
true99blade said:
Hate reading people’s “opinion” that either one of McCabe or the Prince aren’t investing and the other is sick of it and arguments are breaking loose etc etc. These are predictions nobody has a scooby about. Not exactly worried for the investment in all honesty right now, it’s Chris Wilder, Alan Knill, Matt Prestridge etc of whom are priority. The statement inclines there won’t be change in management as of now but can’t help but feel this will bring a lot of uncertainty for Chris. It’s made me slightly uneasy because change is a bastard most of the time but we’ll have to wait n see. If it materialises I suppose we have to wait til the first transfer window to get the gist. That’s if the soul of the club hasn’t already been ripped out ala Hull City, Charlton, Coventry.
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As long as a dof is not involved in the process, CW will be fine.
 
JimW1889 said:
I went to it and there was a question about selling, did a big long speech how he’d only sell to someone who understood the ethos of the club. Did also say he “wouldn’t be doing it much longer” but seemed to imply years rather than months or days.
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If you're seventy you don't plan for years ahead, you hope.
 
SwissBlade said:
Some interesting reactions here! Once upon a time many people would've been ecstatic at this news, Micalijo will be happy, eh cooperblade :)

We will wait and see, but my understanding is that the control of his current stake is through a series of companies, i'm not sure of the exact ownership of these companies, but it could be that they are majority owned by him and they also allow for other investors to take up ownership in those companies. Will have to look into it more deeply.
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His investment "vehicle" for buying into Blades Leisure was UTB LLC. It's registered in the West Indies but when I've searched to find any extra information, you won't find any.

His money or others, I doubt we will ever find out unless he tells us he has additional backers.
 
Also having worked in the Middle East for a couple of years LLC is a very standard company suffix for the equivalent of an LTD.
 
Two things make me feel uneasy about this.

1. The club is in the best nick it's been in for years, there's a great feeling about the club and it doesn't seem like a good time for change. We're on the up.

2. Most clubs that get taken over by a rich foreign owner end up losing their identity in one way or another. E.g. kit change, badge change, stadium change, general feeling of disconnection amongst fans.
 
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The big question is: Is the Prince willing to invest money in the club and take a financial loss on the short-term to become a PL club in the long term? If the Prince is here to make quick money it's gonna end very bad I fear.
 
Grappler said:
Sorry, just asked the wife, it is on Facebook, one hour ago, from Jim's account, saying (something like)

"I am glad the statement is now out there, thank you Kevin McCabe for all you have done, god bless, thank you Prince Abdullah for all you have done, good luck for the future, UTB"

Might not be 100% same words, but that is pretty much what she read out to me
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Ah yes I see it now:

 
Smirth said:
We could in 6-12 months time be solely run by the royal family of Saudi Arabia, a country with a truly appalling human rights record, how can you not be excited?
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I hear Myanmar might be interested in coming on board too.
 
McCabe for sometime now has made no secret of the fact he wanted out so this was always going to happen. It’s become obvious that he’s not got the resources to match other clubs in this division so a change in ownership is probably inevitable if we want to stay competitive financially.

I’m cautiously optimistic (with emphasis on the cautious). The Prince has been here for 4 years and knows enough about the club and the English game for this not to suddenly become a Pigs/Hull etc style clusterfuck.

My main area for concern is down to how much say in the change McCabe has had given that this has been triggered by a contractual option. Maybe McCabe had changed his opinion on the Prince and his financial wherewithal but had his hand forced? Maybe it’s nothing like that and this is what is needed to see the game changing investment arrive? We don’t know.

Just hope people start going into absolute meltdown about the state of the club if this change in ownership coincides with us losing a couple of games
 



The prince has taken very little interest in the affairs of SUFC since he got involved, suddenly he wants to take over and this news comes out at the same time as the news about taking over Belgian Beer FC.
And of course just like before when he first came in, straight after the transfer window had closed.

I just don't get all these strands - but I don't think I like it.

I am however prepared to keep an open mind...for a while.
 
I
derekacorah said:
Speak for yourself, it’s easier for you to get to Saudi than me who lives a matter of miles away.
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that’s because of you have to wait in a queue in Kuwait. You should have spotted that from the name before you moved there!
 
Bruce Wayne said:
There is some fair old cash in that family, who knows our prince may be a popular nephew!

The net worth of the entire royal family has been estimated at well over $1.4 trillion which makes them one of the wealthiest families in the world if not the wealthiest.
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Yes and there are more Saudi “Princes” than dogs of the same name in Sheffield.
 
New chapter begins .We aren' that far off promotion and HRH is giving it a shot . If all goes pear shaped & he flogs the ground to a developer we can ground share at the pig sty

....calm down it's gonna be onwards & upwards but maybe not all smooth and will take a year or 2 .Change is part of life ...embrace and hope we kick on
 
So around four years ago the Prince and McCabe came to an agreement to buy half the club as we all know for a quid, what I presume now also happened was that the Prince was interested in aquiring all of it and McCabe said ok but under certain circumstances and within a certain time scale, we of course new nothing about this until now because the time is right and the two have agreed, I obviously do not know this but makes some sort of sense , could have been on the cards for years, maybe start thinking Liverpool ? Interesting times, looking forward to the next few weeks as I would have thought some more detail to come out officially .
 



davidblade said:
McCabes comments at the octogon last Thursday and the statement today. What is conjecture is that the prince has a buyer , I believe he has history , we will see.
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I hope that is not the case. Also if true and McCabe was unhappy, why would he do a deal now? Why not wait until the season is finished and see if we manage to go up?
 
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