McCabe looks to Africa to return Blades to football’s ‘top echelon’

KEVIN McCabe’s Scarborough Group is expecting to attract hundreds of millions of pounds of investment to help Sheffield United return to the Premier League after fostering a business partnership in Nigeria.

Jacob Esan, a leading investment banker in the African country, has been invited by Mr McCabe to become a director of both Scarborough United Group (SUG) and Sheffield United plc (SU plc). 

SUG is a wholly owned subsidiary of Scarborough Group International (SGIL) which has an 85% shareholding in SU plc, the parent company of League One football club Sheffield United FC.

Mr Esan will work alongside the McCabe family to raise funding from Nigeria that will allow SGIL via SUG to further expand its businesses in real estate, leisure and services, with “football at its hub”.

In a statement SGIL said: “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.”

Mr Esan, 35, a Nigerian national, said getting involved with the McCabe empire was an “exciting challenge”.

Mr Esan, the founder and chairman of investment company Jacob Esan plc, said: “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.”
 
Mr McCabe, chairman of Scarborough, said: “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.”

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