Leeds United will face Sheffield United in the Yorkshire Derby next season as the Blades’ takeover by American investors is now in the hands of the English Football League, according to The Telegraph.
Talks have progressed significantly between the current owner Saudi Prince Abdullah and the group of private investors based in Silicon Valley who are awaiting approval of the takeover from the EFL after submitting plans to the football body. The sale of the Yorkshire club is expected to be worth over £100 million.
Members of the consortium have travelled to England to close the deal after completing their buyer’s due diligence. The Telegraph are reporting that the American investors are ‘positive’ that the deal will go through, with the takeover expected to be completed by next month.
The role of the EFL, who are now responsible for refereeing the sale of Sheffield United after their relegation from the Premier League to the Championship, is to undertake an owners and directors’ test as well as question the buyers on future plans and finances.
The same consortium had been in talks with Prince Abdullah last year to buy the Blades after their promotion from the Championship for a reported £115 million. However, the transaction never materialised.
The new owners are already eyeing up potential summer transfers to help Chris Wilder’s team make a straight return to the top division of English football. Sheffield United finished bottom of the Premier League with a meagre 16 points after only winning three league games all season.
If the takeover does happen, the Blades will become another one of dozens of English clubs either owned or partly owned by Americans, with Yorkshire rivals Leeds United being taken over by 49ers Enterprises for £170 million last July. In the Premier League last season, more than half the clubs were American-backed in some form.
Social media reaction has shown a mixed response from Blades fans. Some are worried about the integrity of the investors, citing a previous attempted takeover from Nigerian businessman Dozy Mmobuosi who was later accused of fraud by the US Securities and Exchange Commission, which he denies.
Meanwhile, other fans fear that a slow approval from the EFL regarding ownership checks could hamper Wilder’s attempts to sign the right players in the transfer window before the start of the new season.
Writer’s View
With the rise in profile and value of the Championship down the years, including the fact that the league is now the sixth most valuable football division in the world, it is no surprise that foreign investors continue to take interest in clubs like Sheffield United who notably have recent Premier League experience to boot.
Despite a poor showing in England’s top-flight this year, new ownership could be just what the club needs to help Wilder rebuild a team that will be expected to challenge for a return to the Premier League next season. Much of what the Blades will be able to do this summer will hinge on how fast the EFL approve their ownership checks.
As ever with the contentious issue of club ownership, fans will only be appeased by the success and well-being of their club, content in foreign ownership if they can get promotion or vehemently against the notion if they fail to achieve their goals. Only time will tell how Sheffield United will view this potential new ownership in the near future.
