Sheffield United bidder Steve Rosen is yet to satisfy the EFL’s financial demands, as the takeover saga continues to drag on.
According to Alan Nixon, this is a critical obstacle to completing a deal.
With this deal dragging on for months, it was thought that Rosen would have gained EFL clearance by now.
Prince Abdullah has been open to selling the club for some time, with Henry Mauriss previously having a proposal accepted and Dozy Mmobuosi rumored to be interested in buying the Blades.
However, both Mauriss and Mmobuosi were unable to complete a contract, and United’s existing owner managed the club through the 2023/24 Premier League season.
However, his reign at Bramall Lane appeared to be coming to an end earlier this month, when Rosen agreed to assume management of the Blades.
However, securing EFL approval has been Rosen’s final barrier, and he has yet to receive consent from the league organiser.
This drama has not prevented the South Yorkshire club from remaining competitive in the league, with numerous acquisitions made during the summer window and Chris Wilder’s side getting into the top two despite starting the season with -2 points.
They will hope to sustain their present form as they compete with Sunderland and Leeds United for a top-two spot.
Championship Table (1st–3rd)
(As of November 14, 2024).
P
GD
Pts
1
Sunderland
15
14
31
2
Sheffield United
15
12
31
3
Leeds United
15
15
29
On the football, United are performing admirably, but off-field stability may be required if the Blades are to sustain their success, with the speculation surrounding a takeover unlikely to be beneficial.
At this point, however, Rosen, his company, and the EFL must all reach an agreement before receiving the keys to Bramall Lane.
Steve Rosen’s group and EFL currently at “loggerheads”
Nixon believes Rosen and his group have failed to meet the EFL’s financial demands.
The EFL wants a guarantee that the Championship side would be fully funded for the next two years, and they also want to know where the money will come from to cover these costs.
With a £105 million agreement already agreed upon, it appears that this is the final hurdle in what has been a long journey, but Rosen and his team have yet to conquer it.
The transaction was apparently supposed to be disclosed last week, but it may take some time for the acquisition to be completed, depending on when the consortium can fulfill the League’s request.
Sheffield United need to have certainty after false dawns
Fans have seen a number of false dawns in recent years.
They will now simply want the takeover to be completed and a new owner installed.
It is correct, however, that the EFL is tough in their checks, as this increases the possibilities of Rosen and his group becoming suitable custodians for the South Yorkshire club.
It is now up to Rosen’s group to determine whether they can match the League’s financial expectations.
If they are unable to compete, they must withdraw from the race and make way for someone else.
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