Sheffield United’s Kevin McCabe has been ordered by a High Court to sell his 50 per cent share in the English football team to co-owner Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud, Reuters reported the Premier League club announcing today.
The pair had fallen out in 2017 after launching separate bids to take over the club. They were involved in a legal battle for over 20 months which reached its conclusion today.
Prince Abdullah came on board as co-owner after buying a 50 per cent stake in the then third-tier club in 2013, with McCabe hoping the deal would bring in substantial investment for the future as United chased a return to the Premier League.
“Kevin feels a deep sense of betrayal and is in a state of shock about the way that he has been treated by Prince Abdullah and he now deeply regrets going into business with him,” a spokesperson for the McCabe family said in a statement.
Prince Abdullah was delighted with the outcome after McCabe was ordered to sell his stake in the club for £5 million ($6.22 million).
“… This judgement brings to an end the uncertainty over Sheffield United’s future,” he said in a statement.
This morning, 16 September 2019, the High Court issued its judgment pic.twitter.com/I1z6pTHOgc
— Abdullah Bin Mosaad (@Saudi49er) September 16, 2019
“Our manager Chris Wilder and the team are off to a promising start and we can now focus on this vital Premier League season under stable ownership.”
The Blades are in 15th place after collecting five points from their opening five league games this season.