Sheffield United are close to being taken over by an African billionaire as the Blades look to escape out of a transfer embargo that stopped them making more January additions
Nigerian billionaire Dozy Mmobuosi is closing in on a deal to buy Sheffield United for around £90million amid the club’s recent transfer embargo.
According to The Times, Mmobuosi is reportedly thought to be in the final stages of buying the Bramall Lane club. It is understood that the prospective buyer still needs to pass the EFL’s owners’ and directors’ test, but that ‘no problems have arisen’ so far.
It has been known for some time that the Blades could be sold with current owner HRH Prince Abdullah bin Musa’ad bin Abdulaziz Al Saud struggling to maintain the funding needed to keep the club going. Last year, American businessman Henry Mauriss, who was previously linked with taking over Newcastle, had a bid, understood to be over £100m, accepted by the club’s hierarchy.
But, as per The Sheffield Star, a proposed takeover of the Blades by Mauriss collapsed because of the complex financial structure he was using to try and purchase the Yorkshire club. It means that Sheffield United have been still in search of a new buyer and it is reported Mmobuosi is behind this bid.
Mmobuosi first made his mark on the world when he founded a company called Tingo Mobile PLC in Nigeria in 2001, and it is an organisation that has grown ever since. He then created his own foundation in 2021 that aims to “promote the progress of Africa and create an environment where Africans can thrive” where he focuses on improving education, healthcare and Information Technology development in his home country.
The Nigerian is worth around £7bn and could bring in a renewed sense of hope on the finance front to the Blades, who have spent just shy of £4m in transfer fees since last January. The Blades are currently going through a transfer embargo after defaulting on payment owed to another club. The EFL confirmed on its website that their issue relates to the non-payment of a transfer fee that was owed.
They are in breach of regulation 52.2.3 of EFL rules, which states: “If a club is in default of payments due to another club under a transfer or compensation agreement the club shall be subject to a registration embargo, such that it shall not be permitted to register any player with that club without the prior written consent of the league until such times as the agreement is honoured.”