Sheffield United Takeover: Finance expert explains attraction of buying “clean” Blades and raises spending hopes

Takeover talk has been rife amongst United supporters this week after talks about a new owner of the Blades progressed to an offer being accepted by Prince Abdullah. The prospective new owner is expected to have been granted a period of exclusivity to complete a deal, while the EFL’s requirements under its fit and proper persons test will have to be satisfied.

United have been here before already this year, with Henry Mauriss trying, and ultimately failing, to take over United in a £135m deal. The Blades are known to be viewed as an attractive proposition to would-be investors in the Middle East and Asia, while America has been viewed as a potential source of further interest after Mauriss, a California-based businessman, failed to convince the English Football League to ratify his takeover based on bonds.

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After Prince Abdullah seized sole control of the Blades following a high-profile High Court battle with Kevin McCabe, he was ordered to buy the club’s property portfolio – which had been previously separated from the football club – from his former partner. United took out a mortgage with Emirates Bank to do so, with the “reunification” of Bramall Lane, the Shirecliffe training ground and other land described as “an important step in the long-term strategy … to reclaim ownership of key assets and to improve these assets.”

The knock-on effect is that owning the ground and associated property makes United a more attractive proposition, according to football finance expert Kieran Maguire.

“There could be changes but the good news is that whoever is buying the club is buying the totality,” Maguire said of United’s takeover developments on his Price of Football podcast.

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“We have seen issues when clubs become separated from their stadia and it means that you end up with one or two people pulling strings and making things more difficult.

“You’re getting effectively a clean club, a club which does have a very good sized and committed fanbase. I’ve been to Bramall Lane and it’s a place you love to go to as a fan. It's what you might call ‘proper’.

“And I guess this would be a step forward in terms of certainty and if there’s uncertainty over ownership, the current incumbents are unlikely to spend big bucks in terms of players.”

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As well as ownership of Bramall Lane, Shirecliffe and a development centre in Crookes, a number of other factors make United an attractive proposition for investors. The biggest is their current position in the table, with Paul Heckingbottom’s men entering Boxing Day’s clash at home to Coventry City second in the Championship and on course to challenge for a return to the Premier League.

The Blades also have the second-highest average attendance in the division, and a playing squad packed with valuable assets including the likes of Iliman Ndiaye, Sander Berge and Anel Ahmedhodžić. Promotion to the Premier League, according to a recent Deloitte study, was worth in the value of £170m over three years – and even more if the promoted club avoids relegation in its first year.

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