Sheffield United: Saudi prince warned new owners of liquidation over £10m owed

Former Sheffield United owner Prince Abdullah of Saudi Arabia was close to taking legal action that could have forced the club into liquidation over a £10 million debt owed by the club’s new owners, COH Sports.

Sky Sports News understands that the prince’s legal team issued a statutory demand last month, giving the US-based ownership group 21 days to settle the outstanding amount. When that deadline passed without payment, COH Sports were granted a further three-week extension, with the threat of a winding-up order if the debt remained unpaid — a step that could have pushed the club into administration.

COH Sports took control of Sheffield United around a year ago after paying a substantial upfront sum. However, following the most recent £10m payment, two instalments are still outstanding to finalise the takeover. It is understood that nearly half of the total purchase price has yet to be paid and is scheduled for the coming months.

In correspondence with the EFL, Prince Abdullah also questioned how COH intended to fund the club’s future operations. Despite those concerns, Sky Sports News has been informed that the American ownership group remains fully committed to Sheffield United, has no intention of selling, and believes the club will continue to be properly financed. Following the legal dispute, all outstanding payments to the former owner are now up to date.

COH Sports are currently in discussions with several potential minority investors in an effort to inject fresh capital into the club. Talks were also held with Prince Abdullah himself regarding a possible return as a minority shareholder, but those discussions did not result in an agreement.

At the time of COH’s takeover — two days before Christmas last year — Sheffield United sat three points clear at the top of the Championship. The club now finds itself 18th in the table, seven points above the relegation zone, having won five of their last seven matches.

COH Sports declined to comment when approached by Sky Sports News, though they have not challenged the reported figures or payment schedule. Prince Abdullah and the EFL also declined to comment.