Sheffield United co-owner ordered to sell his share of the club

The co-owner of Sheffield United Football Club – Kevin McCabe – must sell his share of the club to Saudi co-owner, Prince Abdullah, a High Court judge has ruled.

This morning, the High Court of Justice, Business and Property Courts of England and Wales, issued its judgement requiring Sheffield United Limited (SUL), a company controlled by Mr Kevin McCabe, to sell its shares in Blades Leisure Limited (Blades), the parent of Sheffield United Football Club Ltd, to UTB LLC, a company owned by H.R.H. Prince Abdullah bin Mosa’ad bin Abdulaziz Al Sa’ud.

The judgement also dismissed all of the claims which SUL had made against Prince Abdullah, UTB and SUFC and Blades board member Mr Yusuf Giansiracusa.

McCabe, owner of Scarborough International Properties and a lifelong Blades fan, will have to sell his stake in the club for £5m. The hearing brought to a close a six week  court hearing and a long dispute over the club’s ownership.

Prince Abdullah bought 50% of the former League One club – now playing in The Premiership – for £1 six years ago, promising to finance the running of the club for three years.

A Sheffield United spokesman said: “After over 20 months of contentious litigation, the Club is delighted that this judgement brings an end to the uncertainty over Sheffield United’s future ownership and allows us to focus our full attention on the season ahead.”