Sheffield United’s club owner has been Prince Abdullah bin Mosaad bin Abdulaziz al Saud exclusively since September 2019. The Saudi prince won a High Court battle with Kevin McCabe to claim control.
Mr Justice Fancourt ruled that McCabe had to sell his 50% stake in the Bramall Lane outfit to Prince Abdullah. The pair were locked in a legal dispute over the ownership of Sheffield United after falling out in 2017. Tensions had even begun to grow between them before they hired Chris Wilder in 2016.
Life-long Blades fan McCabe had initially sold 50% of his shares in Sheffield United to Prince Abdullah in 2013. The Saudi dignitary secured half of the South Yorkshire club in return for a £10m investment. But after they fell out, McCabe later offered Prince Abdullah £5m to regain sole control of the Blades.
When did Prince Abdullah become the owner of Sheffield United?
As reported by BBC News in September 2019, McCabe’s £5m deal – offered through Sheffield United Ltd, his family’s company – also handed Prince Abdullah’s UTB LLC company an option to become the Blade’s sole owner for the same price. Mr Justice Fancourt would rule that the contract was binding.
Prince Abdullah served notice of his intent to become the sole owner of Sheffield United in January 2018. But it was not before Mr Justice Fancourt’s ruling in September 2019 that he secured 100% of the shares. Mr Justice Fancourt also ruled that he must buy the club’s assets, including Bramall Lane.
The ruling ensured Prince Abdullah became the sole owner of Sheffield United for a meagre net total of just £15m. Court hearings also revealed McCabe had invested £100m into the club since becoming a director. While The Guardian later reported in February 2020 that the club was then worth £104m.
Sheffield United first announced lifelong Blades fan McCabe as a director in 1995. He would invest a considerable amount over the years in improving Sheffield United’s stadium, Bramall Lane, alongside funding years of losses. His efforts placed their assets’ value – including the academy – at £40-50m.
What have Sheffield United won with Prince Abdullah as owner?
The Blades are yet to add a major title to Sheffield United’s trophy history since Prince Abdullah first invested in them or became the club’s sole owner. His time at Bramall Lane has seen the Blades climb back up the divisions, however. Sheffield United secured the League One title in the 2016/17 season.
Sheffield United had fallen down the divisions to reside in the third-tier from the 2011/12 term. Their demise also saw McCabe invest heavily in covering the financial losses the team endured. While their shared tenure from 2013 and Wilder’s spell as their manager resulted in Premier League promotion.
Wilder led Sheffield United back into the top-flight for their first time since 2006/07 for the 2019/20 campaign. Mr Justice Fancourt would rule soon into that season that McCabe must honour the £5m offer sheet that Prince Abdullah had elected to pursue to become the sole owner of Sheffield United.
The Blades would spend two terms in the top-flight before enduring relegation to the Championship for the 2021/22 season. Wilder also guided the club to a ninth-place finish during the 2019/20 term. Yet it would only take Sheffield United two years to secure their latest return to the Premier League.
What other sports franchises does Prince Abdullah own?
Sheffield United’s club owner Prince Abdullah is a former general president of Saudi Arabia’s General Sports Authority. He has also built his wealth through his various business interests including a clutch of sports teams. The Saudi prince also founded the paper manufacturing company, the SPMC Group.
Prince Abdullah’s sporting interests beyond Sheffield United include being an owner of the Belgian football club, Beerschot Wilrijk. His company, UTB LLC, secured a 50% stake in the team in July 2018 before increasing its stake to 75% in January 2020. His interests also continue in France and the UAE.
Prince Abdullah announced in February 2020 that he was also an owner of the Dubai-based team, Al Hilal United FC. While the Saudi prince also completed a takeover of French outfit LB Chateauroux in March 2021. It followed his purchase of a newly-formed Indian team, Kerala United, in October 2020.
How much is Prince Abdullah worth? What is his net worth?
Prince Abdullah’s net worth was believed to be £18bn as he became a 50% owner in Sheffield United in September 2013, per The Telegraph. But The Times only claimed his personal fortune to be $200m (£161m) in December 2019. While the Daily Mail also cited his net worth to be £198m in April 2020.
The precise value of Prince Abdullah’s net worth remains speculated, with the Mirror citing Sheffield United’s owner’s net worth at £198m as of April 2022. So, it is likely to remain near that figure today.