April 26, (THEWILL) – The proposed £115 million takeover of Sheffield United by Nigerian businessman, Dozy Mmobuosi, is reportedly in serious doubt based on reports that his relationship with current owner, Prince Abdullah, has collapsed.
Mmobuosi is reported to have paid close to £9 million to the cash-strapped club since November, with the expectation that his buy-out would be completed early in 2023. However, a breakdown in his relationship with Prince Abdullah has thrown the deal into jeopardy.
Mmobuosi and Prince Abdullah had reportedly agreed on a deal worth £115m in November 2022, with Mmobuosi immediately transferring £1 million as proof of his intentions. However, there have been delays in the deal being ratified, and the relationship between the two businessmen deteriorated over that period.
Consequently, Prince Abdullah is now said to be open to alternative offers for the club, which is on the verge of promotion back into the English Premier League. However, Mmobuosi’s cash injections were questionably paid into United’s holding company, rather than directly into club accounts.
While the Blades have declined to comment, it appears that there is little hope that the takeover will happen at the originally agreed price. With top-flight football within reach, the club’s value is likely to soar, but it remains to be seen whether the agreement can be revived on the goods faith agreement between both men and the initial investments already made by Mmobuosi.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
