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Saudi Arabian prince Abdullah has acquired a 50% stake in Blades Leisure Ltd, the club’s parent company said Sheffield United in a statement on their website.
Prince Abdullah becomes co-Chairman of Blades Leisure Ltd and Sheffield United, alongside Kevin McCabe.
The prince, in return, will invest substantial capital into the club to work with co-owner Kevin McCabe and his family as they try to guide Sheffield United back to the Premier League.
Prince Abdullah’s grandfather King Abdulaziz is the founder of the Kingdom of Saudi Arabia. The 47 year old prince is a passionate football fan and is a former president of Saudi Arabia’s most successful club Al Hilal FC. He is also Chairman of Saudi Arabia’s Football Privatisation Committee.
Prince Abdullah said: “I am delighted to invest in such a sensibly-organised, family and community club with a great history and heritage. Joining Sheffield United FC at a time close to its 125th year in existence is significant to me and, like Kevin, I am determined to see it achieve its goals and look forward to working with the whole Blades community. However, money will be spent judiciously, and in any case we must comply with the Salary Cost Management Protocol.”
