American ownership group in talks to buy Sheffield United

Sheffield United may be under new ownership when it starts next season as an American group works to take over. The Blades finished as the bottom club in the Premier League in 2023/24 upon a return to the top flight. Traditionally, that leads to financial challenges for clubs as they instantly work to regain Premier League status.

However, The Telegraph is reporting that an American consortium of investors has submitted a request to the EFL to buy Sheffield United. Private investors based out of Silicon Valley submitted their plans to the English Football League. In doing so, the governing body can begin checking the group of investors to ensure they are fit enough to oversee a club of Sheffield United’s size. The EFL recently strengthened the tests to ensure potential owners are effective. This promotes longevity and financial security for clubs in the top divisions.

Talks have accelerated in recent weeks between Sheffield United’s current owner and the American group. Saudi Prince Abdullah is ready to move on from Sheffield United with the Silicon Valley group ready to pay hefty sums of money. Initial reports indicate the American group will pay around $128 million for Sheffield United. Although that is a low fee, this is a Sheffield United side that is playing in the EFL Championship next season. It is a similar cost to what the 49ers Group spent on Leeds United upon their ownership change.

American ownership: Sheffield United is latest in EFL

Prior to owning the Bramall Lane club, Americans had ties to many clubs in the English Football League. For reference, there are 29 teams that list an American or American group in their ownership. Granted, that boils down to different levels of ownership. For example, Stan Kroenke owns all of Arsenal, while Mark Attanasio only owns 18% of Norwich City. Regardless, Americans scatter across the EFL, and the list continues to grow.

With Sheffield United, that ownership stake is for the entire…

Source link : https://worldsoccertalk.com/news/american-ownership-group-in-talks-to-buy-sheffield-united/

Author : Kyle Fansler

Publish date : 2024-05-28 21:17:09

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