Sheffield United: Saudi Prince threatened new Blades owners with liquidation over £10m debt

Sheffield United: Saudi Prince threatened new Blades owners with liquidation over £10m debt: COH Sports, a United States–anchored consortium steered by entrepreneurs Steve Rosen and Helmy Eltoukhy, finalized its acquisition of Sheffield United in December 2024. The handover, however, did not conclude without turbulence. Prince Abdullah, the Saudi royal who relinquished ownership, promptly pressed for the settlement of a £10 million liability he said remained outstanding following the sale.

• Tactical Football Measures Explained
• Speed Training for Football Players

For a brief moment, the club hovered on a legal precipice. Prince Abdullah was preparing to pursue a winding-up petition over the unpaid sum, a move that could have dragged Sheffield United into administration. Documents seen by Sky Sports News indicate that his legal team issued a statutory demand the previous month, granting COH Sports a 21-day window to clear the debt. When that deadline elapsed without resolution, an additional three-week grace period was extended, sharpening the threat of formal insolvency action.

Although COH injected a sizeable payment to assume control of the club roughly a year ago, the transaction itself is not yet fully consummated. Following the most recent £10 million payment, two further instalments remain before the takeover is legally complete. Sky Sports News understands that close to half of the agreed purchase price is still scheduled to be discharged in the coming months, keeping financial obligations very much alive.

In correspondence addressed to the EFL, Prince Abdullah also questioned how COH Sports intended to bankroll Sheffield United’s operations over the long term. Despite those reservations, sources have indicated that the American venture capital group remains resolute in its commitment to the club. There are no intentions to divest, nor any suggestion that Sheffield United will be starved of support. After the latest legal wrangle, COH is now current on all sums owed to the former owner.

Behind the scenes, COH Sports has been canvassing prospective minority backers in an effort to unlock fresh capital. Notably, discussions were even reopened with Prince Abdullah himself about the possibility of a return in a reduced shareholder role. Those negotiations, however, concluded without consensus.

On the pitch, the contrast has been stark. When COH Sports assumed control, just days before Christmas last year, The Blades sat three points clear at the summit of the Championship. Today, they occupy 18th place, though a recent surge—five victories in seven outings—has carved out a seven-point buffer above the relegation zone.

COH Sports declined to comment when approached by Sky Sports News. Nonetheless, the consortium has not challenged the reported timelines or the financial figures involved, leaving the narrative largely undisputed.