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On my way down to hear the verdict in the long-running High Court case into who owns Sheffield United. It seems like a long time ago that this happened... #sufc #twitterblades
As the trial drew to a close in mid June, this is a recap done by my (former 😢) colleague @samcoopernews which people might find useful to remind yourselves of all the twists and turns the case took #sufc #twitterblades…
One the second last day of the trial, McCabe’s lawyer ran through the judge’s options as he saw them. The first two would see the two sides get the other’s shares for £5m. He said neither outcome would be fair.
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Football is finally back. Premier League Predictions thread: #PL
20. Steve Bruce is just such an underwhelming appointment. ASM and Joelinton have a lot of potential but relying on them this early in their PL careers seems a risk. If Newcastle do stay up, I have a feeling they’ll get Arab owners soon. The fans would deserve it. #NUFC
19 Crystal Palace. Without Batshuayi and AWB a gaping hole in the team has been left. Relying on a Ayew and Camarasa (he’s decent) isn’t the brightest decision. What kind of mood will Zaha be in? This and Hodgsons experience may be the last hope for Palace. #CPFC
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In preparation for the upcoming 2018/19 Premier League season, I thought that it might be interesting to look at the transfer spend over the last decade, including the growing impact on debt. The analysis is split between 3 periods: last 3 years, last 5 years and last 10 years.
The transfer fees spend is taken from the clubs’ cash flow statements, as this is the only completely accurate source of data. However, it is worth noting that this does not always represent the full cost of transfers, due to the (increasing) use of stage payments.
In the very few cases where a cash flow statement was not available, e.g. if a club only published abbreviated accounts while they were in lower leagues, I have taken data for those years from the Transfermarkt website.
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The final day (hopefully) of the Sheffield United ownership case at the High Court in London will get underway at 10.30 this morning with closing arguments from Prince Abdullah’s lawyer, Andreas Gledhill QC #sufc #twitterblades
Just got into court and it’s much busier than it has been for the last few days I’ve been here. Kevin McCabe is back after being in Sheffield yesterday for the unveiling of the club’s new sponsor. Prince Abdullah not here at the moment though #sufc #twitterblades
Mr Gledhill begins by saying the case rests on two issues. One is the who caused the breakdown in the relationship between he parties and two is the alleged misfeasance of Prince Abdullah and Mr Giansiracusa over the contract and the ‘bribe’ #sufc #twitterblades
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Currently my way down to London for the final two days of the Sheffield United ownership trial at the High Court. Seems like a long time since this happened #sufc #twitterblades
Today and tomorrow will feature closing oral arguments from both sides, with Paul Downes QC for Kevin McCabe up first. I think we’ll be going over evidence already heard so I’m not expecting any more major revelations like this one, which happened on day 4 #sufc #twitterblades
Yeah, so getting on the tube when it’s this hot is really horrible #sufc #twitterblades
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This morning’s session in the Sheffield United ownership trial begins at 11 with more evidence from football finance expert Douglas Harmer. Later we will be hearing from two property valuation experts about the value of the assets associated with the club #sufc #twitterblades
And in other news, the weather is as bad down here as people tell me it is up there ☔️
We’ve begun now and Paul Downes QC is questioning Douglas Harmer about his valuation of the club. Picking up where we left off by talking about the ALK bid for the club that was being lined up by McCabe in late 2017 #sufc #twitterblades
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The Sheffield United ownership trial at the High Court will get underway at 11.30 this morning, when they will begin looking at evidence about the value of shares in the club with two expert witnesses #sufc #twitterblades
As you will no doubt be aware by now I’m a only a simple-minded bloke from Bolton so some of it might be beyond me but I’ll do my best to keep up #sufc #twitterblades
Just got to court and for the first time in the case while I’ve been here Kevin McCabe isn’t here and neither is Prince Abdullah, although many of the other key players in the case are #sufc #twitterblades
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Arrived at a much brighter looking Rolls Building for the #twitterblades High Court hearing. We’re now expecting to hear from Douglas Harmer tomorrow. Updates to come from around 10.30am on here and on #sufc
Kevin McCabe, Jeremy Tutton and Simon McCabe are already in court
The case is sitting in private for the first five or ten minutes #twitterblades #sufc
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I’ve arrived at a very wet ☔️ High Court as the #twitterblades case continues. Just enough time to dry out before the case resumes at 10.30am. Blades’ chief executive Stephen Bettis is due to give evidence today. Updates to come on here and on our live blog @SheffieldStar #sufc
The case has previously heard claims that Mr Bettis' salary was stopped after he moved to LA.
Mr Bettis is now in the witness dock. Kevin McCabe, Scott McCabe and Simon McCabe are also in court. Jeremy Tutton is also here #twitterblades #sufc
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The final day of Prince Abdullah’s evidence in the Sheffield United ownership trial is due to get underway at 10am. I’m currently on a train which was booked before they decided to bring today’s start time forward by half an hour! #sufc #twitterblades
We’ve also had a bit of a delay due to a problem with the track near Milton Keynes but I’m still hopeful I’m going to get to the court on time! If not I’ll only be five or ten minutes late #sufc #twitterblades
Just made it! #sufc #twitterblades
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Just been a bit of an odd exchange. Mr Downes suggested Prince Abdullah cheats at fantasy football.
The prince replied: "If you have access to information then you can use that to cheat. I know that desperate times call for desperate measures, but for God's sake."
Prince Abdullah is asked whether he believed he would have had control of any shares bought by the Saudi group [Bin Ladens]. The prince said he did not think he would have 'any difficulty managing' them & suggested they would look to him because of his record with sports clubs.
Mr Downes is suggesting that Prince Abdullah had a 'considerable influence' over Dr Rakan. He has also said the evidence suggests Dr Rakan had pull with the Bin Ladens, the inference being that the Prince would have been in charge of any involvement the Bin Ladens had in #sufc
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Back underway again now. Prince Abdullah is being asked again about his dealings with investor Dr Rakan Al Harthy. The prince says that one example of when they worked together, as part of his role with the Saudi govt, on the Saudi Football Federation's King's Cup & Prince's Cup.
Representing Kevin McCabe, Paul Downes QC, asked the prince whether Sela Sports, for whom Dr Rakan is a CEO, had 'any interest in these matters'.
"They have a right to sell tickets [for the King's Cup & Prince's Cup]," said Prince Abdullah.
#twitterblades #sufc
Prince Abdullah is now being asked to go into detail about other occasions when he and Dr Rakan have worked together.
#twitterblades #sufc
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Today’s proceedings are due to get underway from 10.30am. I’ll be Tweeting updates from Prince Abdullah’s evidence throughout the day.
Before things get underway today, here’s what we know so far about the High Court dispute between co-owners, Kevin McCabe & Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud, who each own 50 per cent of Sheffield United..
#twitterblades #sufc
SUL, a company controlled by Mr McCabe and his family, has alleged ‘conspiracy’ and ‘unfairly prejudicial conduct’ and wants damages.
#twitterblades #sufc
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The final day of the second week of the Sheffield United ownership trial at the High Court will get underway at 10.30 with Yusuf Giansiracusa expected to finish giving his evidence. Nothing else newsworthy happening today is there? 👀 #sufc #twitterblades #TheresaMay
For all the latest on Theresa May’s resignation, please follow my colleague @annholmesjourno. We’ll be getting underway with the tenth day of the Sheffield United ownership trial at the High Court in just a few minutes time #sufc #twitterblades
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The board meeting in October 2017, which Chris Wilder attended to discuss the January transfer window budget, was held on 26/10/17 -two days later United beat Leeds to go top of the league. How important would that lack of funding be if #sufc hadn't won promotion this season?
Jeremy Tutton said Wilder's body language suggested he was 'totally underwhelmed' by the funds which would be made available to him #twitterblades
Andreas Gledhill QC said Mr Tutton was told not to make any SUL funds available for transfers by Kevin McCabe #twitterblades
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Quite a few of you asking yesterday who potential SUFC buyers ALK Capital LLC were. There is no reference to them online but Kevin McCabe's written witness statement says they are an 'investment vehicle' created by two people, Alan Pace and Dave Checketts #sufc #twitterblades
Alan Pace is a senior executive at US bank Citigroup who previously worked at now defunct US bank Lehman Brothers and at US football team Real Salt Lake. Checketts was Pace's boss at Real Salt Lake and also used to manage New York's Madison Square Garden #sufc #twitterblades
The witness statement says they visited the stadium in November 2017 and were 'impressed with what they saw'. It goes on to say that they wanted a 85-90% stake in the club and its real estate #sufc #twitterblades
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The final day of the first week of the Sheffield United ownership trial at the High Court will start at 10.30, with Kevin McCabe due to finish giving his evidence. I’ll be here all day tweeting updates of everything that happens #sufc #twitterblades
We’re still in discussions at the Star about who will be covering the rest of the trial. We’ll definitely have someone here next week though to hear Prince Abdullah give his evidence and I would imagine I’ll be back at some point #sufc #twitterblades
Also, I’ve noticed some discussion on Twitter based on a Sky News article saying the Bin Laden family loan never actually happened. That’s certainly not my understanding of what was said and neither of the parties’ legal teams have asked me to clarify #sufc #twitterblades
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The fourth day of the Sheffield United ownership trial at the High Court in London gets underway at 10.30 this morning. Kevin McCabe’s evidence is expected to finish by early afternoon, by which time he will have been cross-examined for more than two days #sufc #twitterblades
A few people asking does that mean Prince Abdullah is up next. As I understand it that will take place next week and I’m not sure at this stage who will be called next. As soon as I find out I’ll let you know #sufc #twitterblades
Mr Gledhill begins by asking about the £3m loan again. Suggests emails between McCabe and Martin Green from October 2017 again show McCabe thought the Prince could make it go away ‘with a wave of the Royal wand’ #sufc #twitterblades
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The third day of a High court case into Sheffield United’s ownership dispute will get underway at 10.30 with Kevin McCabe expected to take the stand again. Follow me for updates throughout the day #sufc #twitterblades
The press and public have been asked to leave court again for a time while the lawyers discuss a confidential issue, believed to be the same issue which necessitated our exclusion yesterday #sufc #twitterblades
We’ve now been allowed back into court and Prince Abdullah’s lawyer is continuing his cross examination of Kevin McCabe. He begins by going back to the transfer of John Brayford in 2015 #sufc #twitterblades
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The second day of a five week hearing into who owns Sheffield United is due to get underway at 10am. This morning lawyers for Prince Abdullah will open their case before a hearing takes place at 12.30 to decide whether some of it can be heard in private #sufc #twittterblades
The section of the case that may be heard in private is believed to relate to commercially sensitive information. The judge yesterday said he would consider hearing the application in private but must also take into account the principle of open justice #sufc #twitterblades
Opening the case for Prince Abdullah and UTB will be Andreas Gledhill QC #sufc #twitterblades
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At the High Court in London for the first day of a five week hearing into who owns Sheffield United. I’ll be here all week, live tweeting from court and filing reports at the end of each day #sufc #twitterblades
Proceedings are due to get underway at 10.30 this morning. Sky Sports News are already outside the court hoping to get a glimpse of Prince Abdullah.
For some good background on the main issues in the case, see my colleague @JamesShield1 report below #sufc #twitterblades…
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Wolverhampton Wanderers 2017/18 financial results covered a successful season, when the club was promoted to the Premier League as champions after a six-year absence, led by head coach Nuno Espirito Santo under the ownership of Fosun International. Some thoughts follow #WWFC
#WWFC loss shot up from £23m to a breathtaking £57m, largely due to increased expenditure on players and wages plus an estimated £20m on bonuses and additional transfer fee payments following promotion.
#WWFC revenue rose 11% (£2.6m) from £23.8m to £26.4m, as commercial increased £1.4m (15%) to £10.6m and gate receipts were up £1.3m (20%) to £7.8m, but broadcasting was flat at £8.0m. Profit on player sales was £5.9m higher at £8.1m.
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Sheffield United’s 2017/18 financial results covered their first season back in the Championship after six years in League One, when they mounted an unlikely challenge for a play-off place before finishing a creditable 10th. Some thoughts in the following thread #SUFC
#SUFC reduced the loss from £5.7m to £1.9m, highlighting the “significant impact” of promotion. Revenue rose 76% (£8.7m) to £20.0m, but this was more than offset by the cost of operating in a higher division, as wages rose £8.9m (89%) to £19.0m & other expenses up £1.9m to £8.5m.
However, it is worth noting that #SUFC lower loss is essentially driven by higher profit on player sales, which rose £5.6m to £8.4m. If this is excluded, loss was actually larger in the Championship than League One. In addition, no repeat of prior season £0.6m player impairment.
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