Exc: Sheffield United takeover latest amid hopes that long-running saga may be finally approaching endgame
The long-awaited takeover of Sheffield United is now in the hands of attorneys from both sides of the proposed agreement, raising hopes that the saga will finally come to a close. The transaction dominated the news agenda over the summer following relegation, but it has not been an easy process, with a restructure at the consortium wanting to take control at Bramall Lane delaying things.
As The Star previously disclosed, Tom Page and Dominic Hughes, the English-born, US-based businessmen leading the bid to buy the Blades, are no longer participating, with their majority investor – later identified by Bloomberg in the US as Ohio native Steven Rosen – taking center stage in the negotiations. The decision to proceed without Page and Hughes, described as amicable by a source, was made around the end of last month, we learn.
Rosen has a diverse portfolio of business interests through his Resilience Capital Partners investment fund, but he wanted to go into English football by fronting the majority of the money to initially bankroll the Page and Hughes-led campaign. Rosen has been thoroughly briefed on both the Blades and Sheffield as a city, noting similarities with his own Ohio in terms of working-class, blue-collar status and legacy.
Rosen and his partner have agreed to match the previously agreed-upon price for the Blades from current owner Prince Abdullah, which is thought to be over £100 million. Although both parties are hesitant to get carried away, having seen the deal stall multiple times following initial hopes that it would be completed before the summer transfer season closed, more progress is believed to have been made since the beginning of the month.
The EFL then demanded a personal commitment that any potential financial loss United may face if they do not get promoted this season will be covered before sanctioning any change of management at Bramall Lane, which delayed the deal. An colleague of Rosen then attended United’s 2-0 victory over Luton Town shortly before the international break, which was regarded as another sign of progress.
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