Prince no longer controlling party?

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Bladeinleeds

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Apologies if this has been mentioned elsewhere but apparently as of Oct 19 the prince ceased to be the person in control of the club. Anyone know what this means? D47A083B-99B4-46D9-9D67-B7E27F247B80.png
 



It’s just related to the changes that we announced at the end of October. He removed himself as a director at that point as part of that.
 
That Company is just the "Football Operation". As we know, that Company has yet to find the cash to buy the Ground & Other Property before they are Owners of The Club in the sense that most people would understand it.
 
Interesting the conspiracy theories are already starting if you read the replies to the twitter feed. Geordies are convinced the Prince has had to step down because their new owners will soon be announced and there can't be two football clubs in the EPL controlled by Saudis 😀 . Someone else has posted " Does this mean Kevin M has taken control again " er No.

The cessation notice issued to-day rescinds a notice issued on 20 October 2019 where the Prince had significant control of SUL ergo 75% of the shares or more. This could just be a cosmetic exercise in restructuring the shareholding. We'll have to wait and see.

Cue KM's PR company " I told you he was selling out to someone else thats why I won't give him the Land" :) Daily Fail and View from John Street pens at the ready.
 
Ball_Sup (Phil) said:
That Company is just the "Football Operation". As we know, that Company has yet to find the cash to buy the Ground & Other Property before they are Owners of The Club in the sense that most people would understand it.
Click to expand...

How many times Phil - the club is paying for the ground and property out of the cash we get from the PL.
 
Ball_Sup (Phil) said:
That Company is just the "Football Operation". As we know, that Company has yet to find the cash to buy the Ground & Other Property before they are Owners of The Club in the sense that most people would understand it.
Click to expand...

Thats not my understanding. Blades Leisure Limited was the company that solely owned the Football operation and was split 50/50 between the Prince and KM. SUL was the overarching company that KM created to deal with assets and to oversee the workings of BLL. KM contested the Court Hearing as SUL the Prince as UTB. Following JF's judgement ownership passed to the Prince hence why KM and his team subsequently resigned from SUL.
 
Addison said:
Thats not my understanding. Blades Leisure Limited was the company that solely owned the Football operation and was split 50/50 between the Prince and KM. SUL was the overarching company that KM created to deal with assets and to oversee the workings of BLL. KM contested the Court Hearing as SUL the Prince as UTB. Following JF's judgement ownership passed to the Prince hence why KM and his team subsequently resigned from SUL.
Click to expand...
I'm making the point that a company currently not associated with the Saudi Ownership Group owns the Ground & Other Property.
I'm making the point that a company currently associated with Kevin McCabe owns the Ground & Other Property.
I'm making the point that we will not be whole, not be a fully formed club, not be proper, until that is sorted out.
I'll happily be corrected.
 
Ball_Sup (Phil) said:
I'm making the point that a company currently not associated with the Saudi Ownership Group owns the Ground & Other Property.
I'm making the point that a company currently associated with Kevin McCabe owns the Ground & Other Property.
I'm making the point that we will not be whole, not be a fully formed club, not be proper, until that is sorted out.
I'll happily be corrected.
Click to expand...
Cant think what could have happened the last couple of months to stop this happening
 
Are we on 'red alert' or is this nothing?
 



8lade said:
Are we on 'red alert' or is this nothing?
Click to expand...

In normal circumstances it's absolutely nothing.

But we're in lockdown mode, so you really ought to be going fucking mental about this. I've already booted the cat out the window in anger.
 
Don't like the bit regards JOC.
Hardly surprising though.
 
Ball_Sup (Phil) said:
I'm making the point that a company currently not associated with the Saudi Ownership Group owns the Ground & Other Property.
I'm making the point that a company currently associated with Kevin McCabe owns the Ground & Other Property.
I'm making the point that we will not be whole, not be a fully formed club, not be proper, until that is sorted out.
I'll happily be corrected.
Click to expand...

Whilst KM's companies currently have possession of the Property Options they will shortly relinquish these. Sheffield United Football Club Ltd will acquire the Property Options ordered in Court to be transferred by KM on or around 1 July 2020. That will happen as it is an Order of Court. Failure to meet any price either agreed or set by Arbitration will lead to a claim for damages by KM. There is no recourse for KM to seek a transfer of ownership as a result of payment default.

Sheffield United Football Club Ltd own Sheffield United as defined by the Judgement so not sure what point you are making? The only asset that has not been ordered by Court to be transferred are the Kop Land sites not included in the Property Options. Hopefully agreement can be reached on a transfer of these assets through Arbitration. The fully formed Club you define hasn't been whole since 2013.
 
Sean Thornton said:
SUL, from today, is no longer a PSC of BLL. Which suggests you're incorrect.
Click to expand...
Sorry Sean Thornton You know the path I'm treading. I'm BladesSplaining. Posters talk about "ownership". And "owners". And "The Club". Me, personally, I don't get wrapped up in the legalese. I see it as.....
To be a Football Club, you have to have a few things
Some Players
A Manager
A Badge
A Shirt Colour
A Ground to play on
A pitch to train on

Those things you need to be a Football Club are split between different factions. We have entities which own some, who are constantly arguing with entities that own others. We don't have "an owner". And I would like to see an end to that
 
Addison said:
Whilst KM's companies currently have possession of the Property Options they will shortly relinquish these. Sheffield United Football Club Ltd will acquire the Property Options ordered in Court to be transferred by KM on or around 1 July 2020. That will happen as it is an Order of Court. Failure to meet any price either agreed or set by Arbitration will lead to a claim for damages by KM. There is no recourse for KM to seek a transfer of ownership as a result of payment default.

Sheffield United Football Club Ltd own Sheffield United as defined by the Judgement so not sure what point you are making? The only asset that has not been ordered by Court to be transferred are the Kop Land sites not included in the Property Options. Hopefully agreement can be reached on a transfer of these assets through Arbitration. The fully formed Club you define hasn't been whole since 2013.
Click to expand...
Thanks for that. We're not at odds are we? As you explain WILL (not are) and HOPEFULLY. I would like the insane position created in 2013 to be resolved. That is ARE, not WILL. Fingers crossed
 
No surprise to see Newcastle fans are all over this.
 



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