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Queens Fish Bar 5:25 Thu May 16
Sheffield United funded by £3m loan from Osama bin Laden's family
https://www.telegraph.co.uk/news/2019/05/16/sheffield-united-funded-3m-loan-osama-bin-ladens-family-court/


Sheffield United Football Club was funded by a £3million loan from Osama bin Laden's family, a court has heard.

A High Court judge is currently analysing a battle for control of the club between co-owners Kevin McCabe and Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud, who is a member of the Saudi royal family.

On the fourth day of the hearing a sensational revelation was read out in court, seemingly linking the newly-promoted Premier League club to relatives of the former Al Qaeda leader.

It relates to an investment opportunity within the club which became known as Project Delta - a £3million loan that McCabe said would never have to be repaid.

In court on Wednesday, McCabe and Abdullah argued about whether or not the money would have to be paid back, with the Saudi prince insisting it would have been paid back through sponsorship.

But on Thursday, Barrister Andreas Gledhill QC, who is leading Abdullah's legal team, said McCabe "knew the money had come from another source, namely a member of the Bin Laden family," according to the Sheffield Star.

The court heard of emails in which McCabe's colleague at a property business Jeremy Tutton mentions that he would hate the headline in the Sheffield Star to be "Blades launder money for extremists".

Kevin McCabe (left) Sheffield United co-owner and chairman Prince Abdullah bin Mosaad bin Abdulaziz Al Saud
Kevin McCabe (left) Sheffield United co-owner and chairman Prince Abdullah bin Mosaad bin Abdulaziz Al Saud CREDIT: CHRIS BRUNSKILL/GETTY
Mr Tutton was also added to the board of directors at Sheffield United in 2017.

McCabe dismissed this as "banter", but Mr Gledhill told the court the email confirms that the co-owner knew where the money was coming from.

Mr Justice Fancourt began to oversee the trial in the High Court in London on Monday, but went into private session on Tuesday, after hearing lawyers representing rival camps outline their cases, and ordered members of the public and journalists to leave the courtroom.

The judge gave no indication of what issues were being discussed behind closed doors, but said the public hearing would resume later.

Mr Justice Fancourt has been told that Mr McCabe and Prince Abdullah control ownership of the club on a 50-50 basis.

He has heard that 71-year-old Mr McCabe is "a wealthy Yorkshireman", and "lifelong" Sheffield United fan, and Prince Abdullah is a Saudi Prince and grandson of King Abdulaziz, the founder of modern Saudi Arabia.

Mr McCabe was born in Sheffield, had long been associated with Sheffield United, who are nicknamed The Blades, and had invested about £100 million.

He had met Prince Abdullah in 2013 after looking for new investors. They started working together after agreeing that Prince Abdullah would invest £10 million but "fell out" in 2017.

Sheffield United Ltd, a company controlled by Mr McCabe and his family, has alleged "conspiracy" and "unfairly prejudicial conduct".

UTB LLC, a company controlled by Prince Abdullah, wants declarations in respect of its rights under an investment and shareholders' agreement.

The trial is due to last several weeks.

Why are The Blades' co-owners in court?
The two businessmen behind the running of Sheffield United are facing off in the High Court after their relationship broke down.

On day one, Mr Justice Fancourt was told Mr McCabe and Prince Abdullah started to work together in 2013.

The Saudi prince was first approached by Mr McCabe in 2012. By then, the Yorkshireman had reportedly sunk £70million into his local club and was looking for options to reduce the financial burden being put on him.

Mr McCabe thought that Prince Abdullah was "minted", but their relationship soured when it transpired this was not the case, the court heard.

Kevin McCabe
Kevin McCabe CREDIT: PA/MIKE EGERTON
The judge heard how Mr McCabe had long been associated with Sheffield United and they agreed Prince Abdullah would invest £10million. They "fell out" in 2017 and became involved in a dispute over control, the court heard.

Sheffield United Ltd, a company controlled by Mr McCabe and his family, has made allegations of "conspiracy" and "unfairly prejudicial conduct" and wants damages.

UTB LLC, a company controlled by Prince Abdullah, wants declarations in respect of its rights under an investment and shareholders' agreement.

Replies - Newest Posts First (Show In Chronological Order)

Boycie 4:59 Sat May 18
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
So they are as tacky as we were under a previous regime? Bygones or shall we give it them next season? hmmm

normannomates 3:30 Sat May 18
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
All the boys will be warming up with a full on yoga session night before of course

normannomates 3:26 Sat May 18
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Fuck the rag head cunt..
These are looking at a very good WHU turn out at theirs next season...

Just a wild guess

Lertie Button 9:12 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Terrorist or Pimp what is worst source of funding

Boycie 8:48 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Who was the broker?

bubbleblower 1:31 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
How many points were gained as a result of players bought with the money lended I wonder?

Dr Moose 1:29 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Looks like this is going to turn into a Spurs MkII obsession thread.

Kaiser Zoso 10:13 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Er, righto

joe royal 10:10 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Race bating? Race has not been mentioned , just a family name.

Kaiser Zoso 10:03 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Race baiting again I see?

Queens Fish Bar 9:39 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Dicko75 11:12 Thu May 16

Don't spoil the clickbait.

arsene york-hunt 1:33 Fri May 17
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
I still feel sick when I think of that ruling in SUs favour. Whatever West ham's offence, our punishment had fuck all to do with them. A quick return to the Championship is required for these unsporting CUNTS.

Dicko75 11:12 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
The family are a very well respected Middle Eastern family. Bit of an understatement but Osama was the black sheep - the rest are legit, a number of whom were educated in the uk

gph 10:51 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
WHO confirms its half-empty glass mentality.

That's three million quid not spent on blowing up innocents

collyrob 10:40 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Osama bin lending?

stepney hammer 9:20 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Make them pay West Ham 40m

Mr Anon 9:20 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
That's our chants sorted for next season

yngwies Cat 9:00 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Ha ha, this is great.

Let's march

chiff 8:23 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
My grandson played rugby for several years with a lad who went to Millfields and according to his mum and dad several of BIN Lardins family attended the school.

chiff 8:22 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
My grandson played rugby for several years with a lad who went to Millfields and according to his mum and dad several of BIN Lardins family attended the school.

Westham67 8:15 Thu May 16
Re: Sheffield United funded by £3m loan from Osama bin Laden's family
Ironic as the 9/11 hijackers used (Razor) blades

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