EFL examines Sheffield United over claim owners trying to avoid paying full purchase price
The English Football League is investigating allegations that Sheffield United’s owner, the American investment group COH Sports, has formed a new parent company for the club to avoid paying £35m owed to the previous owner, Prince Abdullah.
COH Sports, led by Steven Rosen and Helmy Eltoukhy, agreed a deal to buy United from the Saudi Arabian for about £100m in December 2024 and paid the first instalment of about £30m shortly after, but are alleged to have been late in paying the second instalment and missed two subsequent payments due this year. Abdullah’s investment vehicle, United World, issued a winding-up petition in the high court against COH Sports this week and has taken its concerns to the EFL and the Independent Football Regulator.
United’s owners are understood to accept that about £35m is owed and have confirmed the parent company change but insist the two matters are not related. Talks over a resolution have been taking place for some time, with Abdullah offered the chance to convert the debt into equity in the club, but a solution has yet to be found.
In correspondence sent to the EFL, seen by the Guardian, Abdullah’s representatives claim he is owed £35m by COH Sports which it is refusing to pay. The letter further alleges that COH Sports has transferred shares from the entity used to buy United, COH Sports Bidco Limited (CSBL), to a new company, 1919 Partners LLC.
On 22 June United issued a “board update” which announced that 1919 Partners LLC, a Delaware-based corporation, “is the parent company of Sheffield United FC” and “sits at the centre of the ownership structure” of the club.
The letter from Abdullah’s legal representatives asserts: “In circumstances where the ultimate owners, who must have satisfied the EFL’s Owners and Directors Test in relation to the club at the time of acquiring the Blades Shares, then revealed themselves to the EFL as people who would engineer a means of transferring the Blades Shares out of CSBL to avoid paying in full to own the club, it is unclear how the EFL could possibly remain satisfied that these individuals could be fit and proper or otherwise suitable to run one of its football clubs, let alone one with the history of Sheffield United.”
The EFL is understood to have written to United’s owners several days ago in an attempt to ascertain whether they have complied with regulations, and was actively engaged on the issue before receiving a formal letter from United World on Wednesday.
“The EFL notes recent developments involving Sheffield United and has requested observations from the relevant parties in the context of EFL regulations,” an EFL spokesperson said. “As this process is ongoing, we are not in a position to make any further comment at this time.”
In addition to demanding payment, Abdullah’s legal team is understood to have raised concerns that the change of ownership could affect the integrity of the EFL, because avoiding paying the full agreed purchase price would give United a competitive advantage over their Championship rivals.
A spokesperson for 1919 Partners LLC said: “This matter has no impact on the day-to-day operations or financial stability of Sheffield United, which remains well positioned ahead of the new season. We are focused on winning football matches, not playing politics.
“As we have already said the purpose of the restructuring was to create a stronger platform, more efficient and flexible ownership structure that further supports the long-term financial sustainability of Sheffield United. It provides a stronger platform for existing owners to invest additional capital into the club alongside our lender MSD Capital and, over time, creates a more attractive framework for future investment.
“This is an outstanding matter with the former owner, and we will not comment on private commercial discussions. We have engaged, and will continue to engage, constructively and transparently with the EFL and the Independent Football Regulator.”
