Fraser Campbell
Sheffield United deserves better; Sheffield deserves better. For too long, all three of the city’s significant clubs have suffered under misguided ownership. Even where the intentions have been good, the execution rarely has been.
Sheffield’s football clubs have long had an uneasy relationship with the people who own them — Sheffield F.C., Sheffield United and Sheffield Wednesday have all endured long periods of malaise and mismanagement at different points in time. This is simply the current chapter in the city’s ownership story, one where it seemingly fails to attract owners with both the best intentions and the resources to back them up.
However serious the fallout from the events of Wednesday 19 August 2026, the fanbase has an obligation to educate itself on the matter. None of us are experts, but understanding what’s happening is one of the few ways supporters can hold ownership to account. That can be done while still supporting the club and the players vociferously: the two are not mutually exclusive.
How did we get here?
Prince Abdullah bin Musaed Al Saud (”The Prince”) sold Sheffield United through the sale of shares in Blades Leisure Limited to COH Sports United LLC. COH Sports United LLC used a UK company, COH Sports Bidco Limited, as the vehicle for the purchase. Helmy Eltoukhy and Steven Rosen were the ultimate beneficial owners, via their respective trusts:
L2K Sports LP and L2K Sports Management LLC (managed by William D. Wollesen and Hall Law Group)
SHR United Family LLC (managed by Frederik N. Widen and UB Greenfelder)
Since the purchase, COH Sports Bidco has transferred its 33,200,000 shares in Blades Leisure Limited to 1919 Partners LLC in Delaware, while a former member of the consortium, Tom Page, has begun lawsuits against the owners in the same State, claiming he helped set up the takeover before being manoeuvred out.
During the current period of ownership, the club has been late on its first instalment owed to The Prince — paid only after a statutory demand (the step before a winding-up petition) — and has two final instalments still outstanding, which, with interest, are said to total around £35m.
In 2025, ownership explored bringing in a minority investor, essentially selling off a slice of the club to a new party while keeping hold of overall control. It's a fairly standard way for owners to raise capital without giving up the reins. That appears to have gone nowhere, and the talk now is of the secondary market instead, where existing shares get sold on to other investors rather than fresh capital coming into the club. It’s a different beast entirely: minority investment brings new money in the door; secondary market activity just moves the deck chairs around. And it’s usually not a good sign. Clubs and companies alike tend to go looking on the secondary market when they need liquidity fast, when nobody’s queuing up to invest properly, or when the existing owners are quietly looking for a way out. None of those are reassuring reasons for a football club to be doing the rounds.
The ownership has also allegedly explored a possible merger with Sheffield Wednesday, and been dragged into an ill-fated entanglement with James Bord (who bid for Sheffield Wednesday), his AI company, and a splurge on has-beens, unwanted players and speculative signings out of Bulgaria’s lower leagues. All while Chris Wilder and his staff were pulling rabbits out of hats to reach 92 points and go toe-to-toe with Leeds United and Burnley — and still, the club sacked the man entrusted with the rebuild and brought in Rubén Sellés instead. The less said about that, the better.
What next?
It is unclear where this leads, with more questions than answers.
How will current developments impact the club? It has already come out that there will apparently be no new significant permanent signings. Is this a sign of what’s to come? What role, jurisdiction and reach do the EFL, Independent Football Regulator and Football Governance Act have? Will this result in a forced sale (through fans, EFL or IFR)? Or is that a storm in a tea-cup?
Fans often expect a level of communication from owners and boards that no other business would provide, and that arguably they shouldn’t be expected to. That said, through a number of blunders, this ownership hasn’t helped itself, offering little beyond poorly-worded rehashes of prior statements, rather than timely updates.
All of this amounts to serious questions about competency, motives, and a great deal more.
For what’s its worth, it increasingly feels like the current incumbents will not be in charge come Christmas. Is this more hope than optimism?
It’s time Sheffield United fans demanded more, and said so more vociferously. That ire, however, should not – must not – be directed at the players, staff or anyone else at the club right now. They’re dealing with the cards they’ve been dealt. It’s time to stand by the club while backing Wilder and his weans, starting with Swansea away.
Thanks, Fraser
I don't pretend to understand much of what's been going on, but that's the clearest and most simplified statement of the situation I've found so far. Very grateful.
Sue.
“For what’s its worth, it increasingly feels like the current incumbents will not be in charge come Christmas. Is this more hope than optimism?”
The sooner the better for me. But how will that happen? Who is going to buy us and also pay the Prince off?
What can the fans do to “encourage” the owners to sell up and leave?