The English Football League is investigating allegations that Sheffield United’s owner, COH Sports, has formed a new parent company for the club to avoid paying £35m owed to the previous owner, Prince Abdullah.
Payment dispute and winding-up petition
COH Sports, led by Steven Rosen and Helmy Eltoukhy, agreed to buy United from the Saudi Arabian prince for about £100m in December 2024. The first instalment of roughly £30m was paid shortly after, but the second instalment was allegedly late, and two subsequent payments due this year were missed. Prince 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 acknowledge that about £35m is owed and confirm the parent company change but insist the two matters are unrelated. Talks over a resolution have been ongoing, with Abdullah offered the chance to convert the debt into equity, but no solution has been reached.
Share transfer allegations
In correspondence 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 alleges that COH Sports 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 stating 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.
Abdullah’s legal representatives wrote: “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.”
EFL response and competitive advantage concerns
The EFL is understood to have written to United’s owners several days ago to ascertain compliance with regulations and was actively engaged before receiving a formal letter from United World on Wednesday. An EFL spokesperson said: “The EFL notes recent developments involving Sheffield United and has requested observations from the relevant parties in the context of EFL regulations. As this process is ongoing, we are not in a position to make any further comment at this time.”
Abdullah’s legal team also raised concerns that the ownership change could affect the integrity of the EFL, as avoiding the full purchase price would give United a competitive advantage over Championship rivals.
1919 Partners statement
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.”
