Prince Abdullah wins legal battle to control Sheffield United

Prince Abdullah bin Mosaad watches Sheffield United game from the stands. (Reuters/File)
Updated 17 September 2019

Prince Abdullah wins legal battle to control Sheffield United

LONDON: A Saudi prince has won a London court battle for full control of Premier League club Sheffield United.

Prince Abdullah bin Mosaad and co-owner Kevin McCabe were locked in a legal dispute over ownership of the northern English team after their business partnership broke down.

The prince, through his firm UTB LLC, took McCabe’s company Sheffield United Ltd. to court in a bid to enforce a sale agreement reached in December 2017.

Judge Timothy Fancourt said McCabe must sell his 50 percent share of the club to the prince for £5 million ($6 million).

In a 138-page judgment, delivered in London on Monday, the judge said the club is now worth “in the region” of £100 million ($124 million).

In a statement after the ruling, Prince Abdullah said he is “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.”

UTB will have to buy the club’s property assets, which include the Bramall Lane stadium and the Sheffield United hotel, from Sheffield United Ltd.

The judge says McCabe was introduced to Prince Abdullah in 2012 by a third party. 

They reached an agreement to split control of the club, then in the third tier and in need of investment, on a 50-50 basis in return for the prince investing £10 million  over two years.

After relations soured following disagreements over funding, McCabe offered to either buy Prince Abdullah’s stake or to sell his to the prince for £5 million.

The sale was not completed however, prompting Prince Abdullah to bring legal action against McCabe to enforce the contract of sale.

In return, McCabe sued in a bid to have the contract declared void or set aside and also sought damages for breach of contract. 

The team has opened the Premier League season by collecting five points from five games to sit 15th in the 20-team standings.

NBA star Lebron James: Free speech comes with a cost in Morey-China row

Updated 15 October 2019

NBA star Lebron James: Free speech comes with a cost in Morey-China row

  • ‘Yes, we do have freedom of speech, but there can be a lot of negative that comes with that too’
  • NBA telecasts have been pulled from Chinese television in the aftermath of the dispute

LOS ANGELES: Basketball player LeBron James waded into the dispute between the NBA and China on Monday, saying he believes Daryl Morey went too far when he tried to exercise his right to free speech.
The Los Angeles Lakers star criticized the Houston Rockets GM, saying he was “misinformed” and needed to be educated after Morey tweeted his support for the Hong Kong pro-democracy protesters.
“I don’t want to get into a word or sentence feud with Daryl Morey. But I believe he wasn’t educated on the situation at hand and he spoke,” James said before the Lakers exhibition contest Monday against the Golden State Warriors.
“So many people could have been harmed not only financially but physically, emotionally and spiritually, so just be careful with what we tweet, and we say, and we do.
“Yes, we do have freedom of speech, but there can be a lot of negative that comes with that too.”
James’s Lakers and the Brooklyn Nets were thrust into the controversy when the clubs arrived in China last week to play two exhibition games on October 10 and October 12 amidst turmoil after Morey tweeted, “Fight for Freedom. Stand with Hong Kong.”
Morey’s tweet was in support of the protesters fighting a move by China that would allow extraditions from Hong Kong to mainland China. Human rights has long been an issue in China well before the former British colony returned to mainland control in 1997.
Hong Kong has been rocked since June by protests that were ignited by a now-scrapped plan to officially allow extraditions but snowballed into a movement calling for more democratic freedoms and police accountability.
James said Morey was thinking of himself when he made his comment.
“There are ramifications for the negative that can happen when not thinking about others, when you are only thinking about yourself,” he said.
James also has a lifetime endorsement deal worth tens of millions with Nike, which does big business in China. James has made about a dozen trips to China with Nike.
NBA commissioner Adam Silver stressed last week that he regrets Chinese NBA fans are upset but would not apologize for Morey’s tweet.
“I don’t come here, either as the commissioner of the NBA or as an American, to tell others how they should run their governments,” Silver said.
“We’re not apologizing for Daryl exercising his freedom of expression.”
As for having NBA telecasts pulled from Chinese television, Silver said, “It’s unfortunate, but if that’s the consequences of us adhering to our values, we still feel it’s critically important we adhere to those values.”