Thread by @dhayes_news

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

He is asked to confirm that he was at a meeting in Riyadh where the transfer of Brayford for £2m was approved. Mr Gledhill says the minutes show he was there but McCabe denies approving the transfer #sufc #twitterblades

Mr Gledhill now asking about Kevin McCabe’s relationship with Jim Phipps. Refers to an email from McCabe where he calls an email from Phipps ‘offensive and untruthful’. McCabe says they were disagreeing about the running of the club #sufc #twitterblades

Mr Gledhill says McCabe ‘reacts with disproportionate aggression when he is being challenged by someone who he doesn’t regard as an equal because they are not an owner of the football club’. Mr McCabe says this isn’t true #sufc #twitterblades

In July 2015 both Scarborough and UTB agreed to put in £4m more each. In emails from that time McCabe references the possibility of administration if further funds were not identified. McCabe says this was never a real possibility #sufc #twitterblades

In emails between McCabe and Prince Abdullah the Prince says he is struggling to find the funds for the extra £4m because of business difficulties in Saudi Arabia. But he adds he is prepared to ‘cut into flesh’ to live up to his partnership responsibilities #sufc #twitterblades

Mr Gledhill says the Prince warned McCabe that if he didn’t provide more funding he would view it as a repudiation of their relationship. McCabe says he didn’t want to put in extra money but was prepared to in an emergency like he had done many times before #sufc #twitterblades

McCabe says the relationship between him and Prince Abdullah was good but became ‘far less cordial’ when the Prince’s fixer Mr Giansiracusa was introduced around the middle of 2017 #sufc #twitterblades

Mr Gledhill says the pair eventually agreed to put in an extra £3m by July 2015 but McCabe didn’t do that. McCabe says he decided to put in the money as and when it was required ‘because of the management at the time’ #sufc #twitterblades

Mr Gledhill says the minutes of a meeting show management had agreed to operate within the extra £8m identified and would do this by targeting loan players rather than new signings. McCabe says there is nothing in the minutes that show he disagreed with this #sufc #twitterblades

In another email to Mel Brannigan from six weeks later McCabe says his recent trip to China had been ‘convenient for some’. Mr Gledhill says this suggests that McCabe thought something was going on behind his back #sufc #twitterblades

McCabe however says this was meant to be a lighthearted comment and the pair agreed to meet for a cup of tea when he returned #sufc #twitterblades

We’ve now been excluded again while the third party confidentiality order is discussed again #sufc #twitterblades

Sorry I didn’t mention it earlier but Prince Abdullah is here in person again. He and Mr McCabe said good morning to each other when they met before the hearing began #sufc #twitterblades

We’re back in and Mr Gledhill is asking about disagreements between Mel Brannigan and Kevin McCabe. Brannigan said he was following what was decided at the board meeting and McCabe says he was simply reacting to the fast moving business of the football club #sufc #twitterblades

Mr Gledhill now talking about discussions on bringing in a new finance director. He says it was an attempt to assert control of the club by putting in someone more in line with his interests. ‘Not at all’ says Mr McCabe #sufc #twitterblades

The new finance director never came in the end but Mr Gledhill says McCabe talked with one of his sons about ‘resisting further costs’ instead. McCabe says this was because costs needed to be brought back under control #sufc #twitterblades

In October 2015, an agreed £3m from Scarborough wasn’t paid on time. Mr Gledhill says McCabe must have been party to that decision. Mr McCabe says he doesn’t remember #sufc #twitterblades

Mr McCabe denies Mr Gledhill’s suggestion that he didn’t tell Jim Phipps that the money hadn’t been paid in the hope he wouldn’t find out. Mr McCabe says it was an oversight #sufc #twitterblades

McCabe says his history with the club shows he had always funded it whatever the costs and never let it down. Mr Gledhill says history has nothing to do with it and he had in fact reneged on an agreement #sufc #twitterblades

McCabe says he wanted to control the way the money was given to the club rather than give it all in one go. Mr Gledhill says this was a thoroughly devious attempt to undermine Jim Phipps in the Prince’s eyes #sufc #twitterblades

Mr Gledhill refers to emails sent between Mr McCabe and Jim Phipps in which Mr McCabe asks for an apology for disgraceful comments made by Phipps about his family’s honesty. He says for McCabe to claim this after not paying the £3m is ‘absurd’ #sufc #twitterblades

Discussion now about a subsidiary of SUFC called Premier Security. Mr Gledhill asks if McCabe diverted income that would have gone to the subsidiary to some other entity. ‘Most certainly not’ says Mr McCabe #sufc #twitterblades

Now talking about discussions about replacing Mr Phipps. Prince Abdullah wanted to appoint David Green, someone who Mr McCabe had once had a spectacular falling out with and whom he had once blocked as a director of the club #sufc #twitterblades

Mr Gledhill says McCabe leaked the news that Phipps was going at a fans’ forum before the announcement was made in an attempt to destabilise, bully and provoke him #sufc #twitterblades

Mr McCabe says he was talking to a supporter who probably knew Phipps was leaving. Says he disagreed with Phipps’ use of social media which he doesn’t indulge at all. Gledhill says he didn’t like the direct access it gave him to fans #sufc #twitterblades

That concludes the morning session. We will be resuming again at 2pm with more evidence from Kevin McCabe #sufc #twitterblades

We’re back now and talking again about the relationship between Mr McCabe and Jim Phipps. McCabe says there was a ‘retained friendship’ between them #sufc #twitterblades

Mr Gledhill now reading out emails from Kevin McCabe which he says proves he was out to deliberately provoke and bully Jim Phipps. McCabe says reference to Phipps’ knees shaking was ‘banter’ #sufc #twitterblades

McCabe: ‘I was reminding Jim who had put the money into the club which was me and Prince Abdullah not Jim’. Gledhill asks given that McCabe had just reneged on his £3m promise doesn’t that make him a hypocrite? #sufc #twitterblades

The appointments that were made at the end of 2015 and early 2016 were all about maximising your personal control of the day to day running of the club, says Mr Gledhill. McCabe says there were good reasons to appoint all of them #sufc #twitterblades

McCabe: ‘I am enthusiastic about the club and I know it inside out but I don’t agree that my whole sense of self revolves around it’. Gledhill says McCabe didn’t like being asked about the club by Prince Abdullah’s advisers and was defensive #sufc #twitterblades

The advisers said McCabe ‘holds court like a king and has the respect / fear of everyone at the club’. McCabe says he disagrees with the word fear. ‘I work with everyone in a friendly manner’ he says #sufc #twitterblades

They said Mr McCabe was ‘very opinionated, believes his way is the best way and wants to interfere at every level’. McCabe says he is well aware he is not always right #sufc #twitterblades

Gledhill now asking about Project Beta, a planned investment from Qatar that didn’t in fact materialise. McCabe wrote to Chris Howard that it was disappointing that the deal seemed to be somewhat fictitious #sufc #twitterblades

Gledhill: ‘You are making a baseless accusation that Mr Howard misled you are you not’. McCabe says he was talking about tha fact the source of the proposed Qatari investment had never been revealed #sufc #twitterblades

Gledhill: ‘Here you exemplify a marked tendency to male serious allegations, shooting from the hip without any basis’ #sufc #twitterblades

McCabe: ‘I accept that I can be straightforward at times but it is always for the betterment of the football club’ #sufc #twitterblades

Another investment opportunity that became known as Project Delta is now being discussed. This involved a £3m loan that McCabe says he was told the club would never have to repay #sufc #twitterblades

Gledhill says Prince Abdullah’s recollection of the conversation is different from McCabe’s. The Prince said the money could be repaid via sponsorship money. McCabe says he accepts that sponsorship was discussed #sufc #twitterblades

McCabe says that his understanding was that the ‘loan’ was effectively a first payment that would eventually be converted into an equity stake in Sheffield United #sufc #twitterblades

Gledhill says that McCabe didn’t say to those providing the loan that the ‘option’ to convert it into equity would be decided by the club. McCabe says this was based on their ‘enthusiasm’ for the deal #sufc #twitterblades

McCabe says he thought the £3m was a ‘downpayment’ in anticipation of a bigger deal that would follow #sufc #twitterblades

Gledhill says it later transpired that the loan was convertible only at the lenders discretion. McCabe says this didn’t worry him as the deal was progressing #sufc #twitterblades

Gledhill says an email from McCabe at this time says he ‘wasn’t fussed’ that the repayment terms would be up to the lenders and wanted the new investors ‘in our cage’ no matter what #sufc #twitterblades

Gledhill says another email from that time suggests McCabe was still erroneously under the impression that the loan repayment terms were up to him and Prince Abdullah #sufc #twitterblades

Gledhill: ‘You perfectly well knew that if the investment did not complete the loan would have to be repaid but it suited you purposes to maintain that it was not’ #sufc #twitterblades

Gledhill: ‘I put it to you that you have a tendency to remember what you want to remember and that you don’t have a very clear grasp of what had been agreed either then or now’ #sufc #twitterblades

The loan was later reorganised as the club needed to get rid of some debt because of the threat of a transfer embargo #sufc #twitterblades

This meant the more of the debt was taken on by Prince Abdullah and the jointly owned club saw its debt reduced as a result #sufc #twitterblades

This meant that the club’s debt to Charwell was reduced to £1.4m. Gledhill asks why would your group finance director do that if the money was not to be repaid #sufc #twitterblades

Gledhill: ‘It later became convenient for you to believe that the loan was never to be repaid. I put it to you that your evidence about the meeting in Dubai is incorrect’. McCabe says he disagrees #sufc #twitterblades

Discussion now about the cash flow projections for the club for 2017. These included rent increases to be payable from the club to McCabe’s company. These were not agreed by Prince Abdullah #sufc #twitterblades

McCabe says there was a moral case for increasing the rent after the club was promoted as well as everything else they did for the club. Says there was no give and take from Prince Abdullah and his new representative Mr Giansiracusa #sufc #twitterblades

Gledhill says Giansiracusa thought they should get the rent at preferential rates for 25 years. McCabe wrote in emails about the row that ‘even Dick Turpin wore a mask’ and mulled instructing an aggressive lawyer #sufc #twitterblades

Gledhill says that it is strange that it is at this time McCabe first mentions Prince Abdullah has told him the £3m loan would not have to be repaid. Says his statements about what the Prince has told him in Dubai are not true #sufc #twitterblades

Gledhill says McCabe was angry that Prince Abdullah would not pay the rent increase he wanted. McCabe acknowledges it may have been indirectly connected #sufc #twitterblades

Gledhill asks McCabe why he said the Prince could deal with the debt rather than repay it and suggests he wanted him to use his influence in Saudi Arabia to make it go away. McCabe says he isn’t a lawyer and used a different word #sufc #twitterblades

Gledhill: ‘You thought Prince Abdullah could use his standing in Saudi Arabia to strongarm people into making the debt go away’. McCabe agrees that he thought Prince Abdullah had a relationship with the lenders that could benefit the club #sufc #twitterblades

And that concludes proceedings for another day. There will be a full report on thestar.co.uk this evening and in tomorrow’s print edition. The case will begin again at 10.30 tomorrow morning with more evidence from Kevin McCabe #sufc #twitterblades

My report from day three of the Sheffield United ownership trial at the High Court in London #sufc #twitterblades

thestar.co.uk/business/forme…