Prince Abdullah of Saudi Arabia Becomes Joint Owner of Sheffield United
September 3, 2013
Sheffield United Football Club has announced that HRH Prince Abdullah bin Mosaad bin Abdulaziz Al Saud has become joint owner of the Club after securing a 50% interest in Blades Leisure Ltd, the holding company for the club.
An official press release on the club’s website said that through the deal, Prince Abdullah would ‘invest substantial new capital’ into the South Yorkshire club.
The aim is for Prince Abdullah to work with current owner Kevin McCabe to lift the League One club back into the Premier League, where they have been missing since 2007.
Prince Abdullah said: “I am delighted to invest in such a sensibly-organised, family and community club with a great history and heritage.
“Joining Sheffield United FC at a time close to its 125th year in existence is significant to me and, like Kevin, I am determined to see it achieve its goals and look forward to working with the whole Blades community.”
Prince Abdullah however warned any fans who thought vast amounts of money would be spent to think again. “However, money will be spent judiciously, and in any case we must comply with the Salary Cost Management Protocol,” he added.
Kevin McCabe said: “We are thrilled to be building this new partnership for Sheffield United with Prince Abdullah, who shares our vision for the Blades to join the top tier of English football.
“The McCabe family remains wholly committed and over the past 10 years has invested more than £90 million in rebuilding our fine and proud Club, which now has a top-class stadium, academy and junior development centre.”
Prince Abdullah, aged 47, is a grandson of the founder of the Kingdom of Saudi Arabia, King Abdulaziz.
He is a passionate football supporter and is former President of Al Hilal FC, the largest and most successful club in Saudi Arabia. He is also Chairman of Saudi Arabia’s Football Privatisation Committee.