US consortium in advanced talks over Sheffield United takeover despite relegation

Sheffield United – US consortium in advanced talks over Sheffield United takeover despite relegation

An American consortium of Silicon Valley-based private investors have revived their hopes of a takeover at Sheffield United following their relegation from the Premier League.

The capital investment fund have been looking at various projects and were interested in buying the Yorkshire club a year ago after promotion from the Championship but no deal was struck with owner Prince Abdullah over a sale worth around £115 million.

It is understood there have been further discussions in the last weeks and the potential new owners have been looking at player options for the summer in the transfer market, with Chris Wilder’s squad losing a raft of first-team players after finishing bottom of the Premier League.

According to a source close to the American consortium, there have been advanced talks over a takeover and there is hope of a breakthrough in the next month. They have also appointed an English-based technical advisor to liaise with the potential deal.

Telegraph Sport revealed the original interest a year ago, quoting a source: “They are a Silicon Valley-based capital investment fund looking at options, potentially in the Premier League.”

Prince Abdullah has previously been in talks with Nigerian businessman Dozy Mmobuosi but a takeover never materialised. Mmobuosi has since been accused of fraud by the US Securities and Exchange Commission.

Sheffield United returned to the Championship after one season back in the top flight, picking up just 16 points last season and finishing bottom of the table.

Should the new consortium be successful in gaining control of the club, they would add to the number of clubs under American owners in English football. In the Premier League, Chelsea were the latest to be taken over by owners from the United States, while Liverpool are owned by Fenway Sports Group, although the Glazer family have sold some of Manchester United. In the Premier League last season, half of the clubs were either owned or partly owned by investors in the U.S.

American investment group 49ers Enterprises bought Leeds United last year, with the club taking on Southampton this weekend in the Championship play-off final.

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