| Sheffield United in the plop? on 15:24 - Aug 18 with 5103 views | Boston |
Dunno, but I’d count your cutlery. |  |
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| Sheffield United in the plop? on 14:10 - Aug 19 with 4267 views | KensalT |
Things are really heating up now. The former parent company has been wound up.
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| Sheffield United in the plop? on 14:32 - Aug 19 with 4161 views | enfieldargh |
Wednesdays Court Case!!!!
They lobbing that at them as well!!!!
Might see a Sheffield power reversal |  |
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| Sheffield United in the plop? on 14:44 - Aug 19 with 4103 views | PlanetHonneywood |
Have they any players we might like to get our paws on? |  |
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| Sheffield United in the plop? on 14:52 - Aug 19 with 4063 views | KensalT |
| Sheffield United in the plop? on 14:44 - Aug 19 by PlanetHonneywood |
Have they any players we might like to get our paws on? |
Unfortunately COH Sports Bidco doesn't have any assets.
That's why Prince Abdullah is so pissed off. They still owe him $70m, half of which is already overdue.
It will be interesting to see how the EFL deals with this, or if the Blades owners have broken any laws. | | | |
| Sheffield United in the plop? on 14:59 - Aug 19 with 4020 views | dmm |
Sheffield isn't good at running football clubs, is it? |  | | |
| Sheffield United in the plop? on 15:20 - Aug 19 with 3930 views | enfieldargh |
Paging Mr Bannon your services are required | |
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| Sheffield United in the plop? on 15:37 - Aug 19 with 3815 views | KensalT |
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| Sheffield United in the plop? on 20:36 - Aug 19 with 3131 views | NorthantsHoop |
Hope they get the 12 point deduction and wipe the smug smile off Chris Wilder's face. |  | | |
| Sheffield United in the plop? on 21:14 - Aug 19 with 2995 views | numptydumpty |
| Sheffield United in the plop? on 15:24 - Aug 18 by Boston |
Dunno, but I’d count your cutlery. |
Stainless apparently Boston....
Likewise, who can we plunder at a bargain basement price.... |  |
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| Sheffield United in the plop? on 21:20 - Aug 19 with 2979 views | BlackCrowe |
Ok, so how much will we get fined for this...ffs. |  |
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| Sheffield United in the plop? on 21:28 - Aug 19 with 2939 views | bosh67 |
| Sheffield United in the plop? on 20:36 - Aug 19 by NorthantsHoop |
Hope they get the 12 point deduction and wipe the smug smile off Chris Wilder's face. |
I'm not a huge fan of point deductions. It just seems to punish the fans who have done nothing wrong. |  |
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| Sheffield United in the plop? on 21:50 - Aug 19 with 2843 views | TomS |
So how much did 1919 Partners LLC pay CSBL for the shares in Sheffield Utd last June? Bear in mind that CSBL had bought the club for Stg100m in 2024.
If nothing approaching that value was the consideration in the transfer then, noting the possible common ownership of the two entities, I suspect a case might be made that the exercise was a ploy to put the assets of CSBL, being the shares in the club, out of the reach of its creditors. That transaction could be reversed by the Courts. It's a very interesting case for the Liquidator and Courts to review. |  | | |
| Sheffield United in the plop? on 22:06 - Aug 19 with 2783 views | KensalT |
| Sheffield United in the plop? on 21:50 - Aug 19 by TomS |
So how much did 1919 Partners LLC pay CSBL for the shares in Sheffield Utd last June? Bear in mind that CSBL had bought the club for Stg100m in 2024.
If nothing approaching that value was the consideration in the transfer then, noting the possible common ownership of the two entities, I suspect a case might be made that the exercise was a ploy to put the assets of CSBL, being the shares in the club, out of the reach of its creditors. That transaction could be reversed by the Courts. It's a very interesting case for the Liquidator and Courts to review. |
That all sounds plausible.
But how long would it take?
And who has jurisdiction here if it goes to court? The UK, America, somewhere else?
Finally, what power does the EFL have in this situation? I don't know if there has been anything like this before in English football, so do the rules even cover it?
I can see this dragging on for a very long time. | | | |
| Sheffield United in the plop? on 22:26 - Aug 19 with 2707 views | TomS |
Another question that has to be addressed is whether the EFL formally approved the transfer of the shares in June to a new entity, essentially creating a new owner of the club.
I hope the EFL will take the view that this sharp practice is not good for the game's reputation, ie leaving the seller of the shares in the club in the lurch. I would hope that they react in a manner which would be a warning to anyone thinking about using this scenario as a template to avoid paying what you owe to a previous owner, that there would be very serious consequences for you and the club. | | | |
| Sheffield United in the plop? on 22:43 - Aug 19 with 2637 views | KensalT |
| Sheffield United in the plop? on 22:26 - Aug 19 by TomS |
Another question that has to be addressed is whether the EFL formally approved the transfer of the shares in June to a new entity, essentially creating a new owner of the club.
I hope the EFL will take the view that this sharp practice is not good for the game's reputation, ie leaving the seller of the shares in the club in the lurch. I would hope that they react in a manner which would be a warning to anyone thinking about using this scenario as a template to avoid paying what you owe to a previous owner, that there would be very serious consequences for you and the club. |
Yes. That is a good question.
And how does the owner and director test work in this situation?
Ownership of the club is being transferred in circumstances that look distinctly iffy, but the new owners are the same as the previous owners (who have already been approved). So how can the EFL challenge it? | | | |
| Sheffield United in the plop? on 00:00 - Aug 20 with 2521 views | CiderwithRsie |
I dunno, I know we've seen this before, but I still I feel quite sad about this.
Sorry for the fans, who've done nothing wrong, and for the players and their families. Often in club insolvencies there are small suppliers and St John's ambulance etc left out of pocket.
No sympathy for the owners but we get owners like that in football because the whole financial model encourages it.
As ever I'm left feeling grateful for our current owners, we could do lots worse. | | | |
| Sheffield United in the plop? on 00:07 - Aug 20 with 2506 views | KensalT |
| Sheffield United in the plop? on 00:00 - Aug 20 by CiderwithRsie |
I dunno, I know we've seen this before, but I still I feel quite sad about this.
Sorry for the fans, who've done nothing wrong, and for the players and their families. Often in club insolvencies there are small suppliers and St John's ambulance etc left out of pocket.
No sympathy for the owners but we get owners like that in football because the whole financial model encourages it.
As ever I'm left feeling grateful for our current owners, we could do lots worse. |
It's not the club that's insolvent.
It's the former parent company that is insolvent.
The problem for Sheffield United is that the former parent company still owed around £70m to the previous owner Prince Abdullah. | | | |
| Sheffield United in the plop? on 16:35 - Aug 20 with 1878 views | KensalT |
The odds on Wilder walking must be dropping by the second
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