Sheffield United's owner, Prince Abdullah, has temporarily halted the sale of the club, aiming to capitalize on a potential promotion to the Premier League. Abdullah had previously agreed to a £105m sale to American investors Steven Rosen and Helmy Eltoukhy last summer following relegation, with the English Football League (EFL) granting approval last week. However, sources reveal that Abdullah is refusing to finalize the sale, anticipating a significant financial gain if the club secures promotion. EFL insiders have confirmed they are aware of the delay.
Sheffield United has exceeded expectations, currently sitting second in the Championship, with one game in hand on leaders Leeds. A return to the Premier League would guarantee at least £140m in TV and sponsorship revenue, potentially rising to £300m if the club remained in the top flight for two seasons. Promotion would substantially boost the club's value, with Brentford currently on the market for £400m, prompting speculation that Abdullah might demand a higher price in the summer.
The existing deal includes clauses offering Abdullah bonus payments upon promotion. With promotion now seen as a more attainable goal, Abdullah is reportedly seeking larger bonuses. Some sources suggest he may delay the deal as long as promotion remains a possibility. Rosen and Eltoukhy, representing a US consortium called COH Sports, are growing increasingly frustrated with what they view as Abdullah's delaying tactics, which threaten to derail the deal. The Americans broke their silence last week, issuing a statement to Bloomberg confirming EFL approval, an apparent attempt to pressure Abdullah.
"We are pleased to have secured approval from the EFL, and thank them for their thoughtful engagement on the process," their statement read. "This was the last outstanding matter, and we look forward to moving forward to completion as soon as possible. Like all Sheffield United supporters we want to see the club building on its strong start to this season. We believe that only a rapid completion will allow us to support Chris and the team." In response, Sheffield United's chairman, Yusuf Giansiracusa, released a statement acknowledging COH Sports' EFL approval, but no further progress has been made since.
Rosen and Eltoukhy are eager to finalize the deal this month to collaborate with manager Chris Wilder during the January transfer window and bolster the squad. Abdullah acquired a 50% stake in 2013 when the club was in League One, eventually taking full control in 2019 after a contentious legal battle with Kevin McCabe. The club has been on the market for nearly two years, with the Rosen/Eltoukhy offer being the first to receive EFL approval. Sheffield United declined to comment.
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