Prince is taking over

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I find it hard to believe this is against McCabes wishes.
The ground wouldn't of been part of a buy out option otherwise what was the point in moving it.
If the grounds for sale it obviously has his approval.
 
A sad turn of events, McCabes heart is in the right place, and he's always wanted the best for the club, and it was part of the identity having him as the Chairman, Blades as a chairman, one as a manager and one as a captain, thats now gone and it feels very deflating.

However he is 70, and it can't be an easy job along with all his other business concerns so he had to leave sometime, I'd just hoped he'd pass the mantle onto one of his sons, but i get the impression they aren't as keen as he is.

So onto the prince, I'm not sure what'll he'll bring to the table, but until he does something that suggests he isn't fully behind United he gets my full backing.

Thank you for everything Kevin, you'll be missed. Welcome on board HRH may your reign be a prosperous one, and Up The Blades!!!!
 
davidblade said:
In my opinion he won’t be here long it seems like there was a agreement for McCabe to sell the club lock stock and barrel in 2013 at an agreed price. I suspect the prince has now found a buyer so he can now make quite a profit , don’t think McCabe is to happy.
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I can see people deriding this already but it would work with what we know.
 
Neuschwanstein said:
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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You can take McCabe words at the octagon a number of ways when he apparently is upset at the lack of money and investment coming from the prince half. Maybe this seal has been going on sometime and Kev was commenting on being sick of waiting for the clause to be activated.

That being said, I am surprised United have said anything if the ink isn’t at least wet on a deal
 
I think (and maybe a bit of hope) McCabe would only let this happen if he felt confident he was handing over to a worthy custodian....So this could be a very positive development.....
 
Maybe it's 20 years of the repeated bollock kicking that is following Sheffield United.

Maybe it's just that having The McCabes at the helm has always felt like a bit of a comfort blanket.

But something about this just seems a bit fishy.
 
sheffielder said:
You can take McCabe words at the octagon a number of ways when he apparently is upset at the lack of money and investment coming from the prince half. Maybe this seal has been going on sometime and Kev was commenting on being sick of waiting for the clause to be activated.

That being said, I am surprised United have said anything if the ink isn’t at least wet on a deal
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davidblade said "I believe he has history " so where is the evidence? Sounds like a reporter for The News of the World. There would only be a profit in selling SUFC on if we gained promotion to the Premiership. Otherwise he would be lucky to break even. We are losing money.
 
Neuschwanstein said:
davidblade said "I believe he has history " so where is the evidence? Sounds like a reporter for The News of the World. There would only be a profit in selling SUFC on if we gained promotion to the Premiership. Otherwise he would be lucky to break even.
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I think the prince knows by now you don’t make money in the championship
 
Trying to piece together the jigsaw without being ITK and maybe Kev and HRH had a deal that each had to put in a figure to be agreed each year and if one declined the other had the option to buy them out. I hope Kev is well and thank him for all he's done but he's getting on a bit and sometimes health can affect such decisions and a good man calls time at the right time e.g Barnsley. I hope Kev is well.

HRH has done nothing to harm our club so far so I don't see why we shouldn't back him 100% like any one else with a good track record, after all who else is there?, and please stop all this doomsday moaning until there is something to moan about. Could be a good thing eventually, be patient. Would like to see the ground freehold in trust or similar. UTB
 
SwissBlade said:
Yeah from what i understand its principally the same thing, Limited Liability
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By the way, the Guardian asked all English clubs about their foreign ownership and UTB LLC is actually the Prince's family trust which exactly mirrors the McCabe Family trust that owns everything that is Scarborough Group. Everything each family owns will be in those Trusts and you'll never find out what assets they have. We might estimate their wealth at £100M each but nobody except them really knows.

Interestingly the Pigs didn't reply - Chancer is hiding something :)

Sheffield United
McCabe family own 50% via UK company, 50% owned by UTB LLC, registered in the West Indies, owned by family trust of Prince Abdullah bin Mosaad bin Abdulaziz Al Saud.

Response from club “Prince Abdullah is a Saudi national and it is normal for non-UK residents to hold their assets in non-UK companies. There is no intention on behalf of the owners to make a gain selling the football club but if very exceptional circumstances occurred, the owner would be UK company Blades Leisure that is fully exposed to capital gains tax.”

Sheffield Wednesday
Was owned by Milan Mandaric via UK Football Investments LLC, registered in the US (state unidentified). Now bought by the Thai investor Dejphon Chansiri.

Response from club No Comment.
 



ShockingBadBuy said:
Do the stadium plans submitted to the Council include a torture dungeon ?

Sorry. I REALLY do not want our club owned from thousands of miles away by someone whose grasp of football in Britain can only be tenuous at best, and for whom we are likely to be little more than a vanity project or bauble. Hilarious when it’s happening in S6. Not remotely funny when it’s happening to us. And I don’t care about how fucking rich he is.
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Better get saving then! :)
 
For the last 18 months I’ve been in dreamland and just waiting for us to Sheffield United it all up like we always do. I hope to fuck this is not us imploding just as things were looking rosey.

I’ll remain cautiously pessimistic I think.
 
Mouth of the South said:
What utter crap. Do you actually think that is going to happen? When has he ever given an indication (in his current role or previous ventures) of being an asset stripper - he is an investor who builds businesses up.

I would suggest he's seeking ownership of the freehold of the assets to enable him to develop them further - why would he do that when he doesn't own them. Is there not also a steep annual rent payable as part of the current agreement?
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Clearly him and Tunaman are already in talks about a new shared stadium on some green belt land somewhere.
 
The Prince will buy him out...the freehold and everything else.....then within 12 months we will be sold again to the Chinese....YHIHF!
 
dc_blade said:
I love a bit of blind speculation and guesswork as much as the next guy, but...

Can anyone who knows a bit about business, perhaps even this particular deal, clue us in on what HRH's "option" might look like?

Does it just mean he's always had the option of buying McCabe out if he fancied it? Or could it mean that HRH himself had to meet certain obligations, too? In particular: is it likely to mean HRH had to step forward with the promise of a certain level of additional investment before he's allowed to table a bid for McCabe's holdings?
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An Option to purchase is effectively the Owner of an asset granting the Option Holder the ability over a period of fixed term (capable of extension) to purchase the asset. The price might be fixed or might be up for negotiation.

Within an agreement such as this there may well be criteria which the Prince may need to satisfy in order for the purchase to go through. I do believe McCabe feels a duty of care to United and consequently will seek to ensure the best interests of the club are considered along with his own.

To understand the what’s and wherefores you need to look at what’s happening in the context of the existing Prince & McCabe arrangement. Presumably they have a joint venture agreement (JV) and an obligation to matcheach other’s investment in the club. Or at least both parties contributing at a fixed level, albeit at different levels. On this basis to get out of that type of arrangement always seemed a bit tricky to me.

I suspect either the Prince has greater investment above and beyond the confines of the JV and wants greater control if he’s going to invest more, or far less likely he wants to extricate himself from the JV and make a turn to another investor. Either way we don’t have the McCabe checks and balances in place beyond the initial sale, whether you perceived them to unreasonably restrict progress or providing a measure of understanding of SUFC, fanbase and City. When the joint ownership goes we lose this. However we gain, potentially, greater investment.

My take, FWIW, is that Kevin is c. 70 years old and can’t go on forever. Change was always inevitable and to a certain extent The Prince is a known quantity in that he’s been associated with the club through both tough times and good in his short spell with SUFC. I’m sure he’s got an understanding as to what it is to be a Blade. I hope he maintains the competitive ticket prices, investment in stadium and subsidy of the Academy which McCabe has always remained faithful to.

UTB
 
Torrix1889 said:
The Prince will buy him out...the freehold and everything else.....then within 12 months we will be sold again to the Chinese....YHIHF!
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This has already been implied. Yet no evidence or details of how this can be profitable has been explained. Care to elaborate?
 
Does noone else just think we'll continue on as we are. If hes bought that belgium club hes hardly looking at hitting the big time with all his investments.

He's probably hoping wilder can take the club up on minimal funds and therefore make a massive return on his investment. Don't think he's going to chuck loads of money at us for one second and i'm not sure I want a chansiri style investment anyway.
 
i can't offer anything other than speculation, optimism, pessimism and bollocks. All in equal measures.

my own feelings are that i'm at least enthused by knowing he's been involved in some capacity with the club for a while and has formed some form of rship with KM. He isn't just a name that's appeared in a red top in our hour desperation. Things had to change at the Lane at some point. Whether this be a brand new direction or more of the same, embrace and don't lost faith ... init.
 
Just bumped into Prince’s Dad in Common Room. Says he’s agreed a deal of 24 multi packs of bog roll for Graeme Le Saux in’t summer
 



Neuschwanstein said:
This has already been implied. Yet no evidence or details of how this can be profitable has been explained. Care to elaborate?
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Just a hunch....the Chinese will want the land and offer a fortune for it..McCabe could never be the one to sell BDTBL but some no-mark Prince who visits a couple of times a year wouldn't give a shit if we ended up at Don Valley or Sheffield airport in a soulless bowl of a stadium........

......actually..hang on a minute....who owns Don Valley now......I smell a conspiracy!
 
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