Sheffield United ownership battle takes fresh twist as Kevin McCabe refuses to give up shares after losing High Court battle

SHEFFIELD United part-owner Kevin McCabe is refusing to give up his shares in the Bramall Lane club despite losing a courtroom battle.

A High Court Judge ruled against McCabe and ordered him to sell his 50 per cent stake in the club to Saudi co-owner Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud for just £5m.

Sheffield United ownership battle takes fresh twist as Kevin McCabe refuses to give up shares after losing High Court battle1 Kevin McCabe is refusing to give up his Sheffield United shares to co-owner Prince Abdullah despite losing a courtroom battle

But McCabe, who has been on the Blades’ board in a variety of roles for 25 years, has insisted he will not hand over his stake in the club at this stage.

McCabe said: “Prince Abdullah is saying that he has won and that the Court has ordered me to transfer our shares to him and that he is now the sole owner of the club.

“Prince Abdullah won part of the case, the Judge however found for the McCabe family in relation to Prince Abdullah’s devious plan to evade the Shareholders’ Agreement.

“At some stage we shall have to cede control to Prince Abdullah, but as matters stand no such order has been made and we are very carefully considering an appeal.”

Prince Abdullah acquired his 50 per cent stake in 2013 for just £1 but a promise to inject £10m in capital.

However he fell out with property magnate McCabe in 2017 and their battle ended up in a two-week high Court hearing settled in the Saudi’s favour on Monday.

The two sides are back in court on October 14 when Mr Justice Fancourt is due to rule on the terms of any share transfer although McCabe seems likely to appeal the High Court decision.

Writing in a statement on Monday, Prince Abdullah said: "I am delighted that this judgment brings an end to the uncertainty over Sheffield United’s future.

"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.

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"I am incredibly proud of what we have achieved together over the past six years. As we turn a new page at Bramall Lane, my first priority is to secure our position in the top tier for many years to come.

"To help realise that ambition, I am fully committed to continued investment in both the First Team and the Academy and to bringing best practices and the highest standards of management to the club.

"We want to own our stadium and intend to complete this integration within the coming year."

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