The English Football League (EFL) is investigating Sheffield United’s ownership structure following allegations that the club’s American proprietors established a new holding company to evade paying £35 million still owed to former owner Prince Abdullah.
COH Sports, an investment group headed by Steven Rosen and Helmy Eltoukhy, agreed to acquire the Championship side for approximately £100 million in December 2024. While roughly £30 million was transferred immediately after the deal concluded, the second tranche was reportedly delayed and two further payments due this year have not been made.
Abdullah’s investment vehicle, United World, has petitioned the High Court to wind up COH Sports. His legal representatives allege that the group moved shares from the original acquisition vehicle, COH Sports Bidco Limited (CSBL), to a newly created Delaware-based firm, 1919 Partners LLC, in an effort to avoid settling the remaining balance.
In a board update issued on 22 June, the club confirmed that 1919 Partners LLC now holds the central position in the club’s ownership hierarchy. United World contends that this restructuring is directly linked to the unpaid debt. The EFL has received correspondence questioning how individuals who allegedly engineered this share transfer could satisfy the league’s fit and proper persons test.
United World has also warned that avoiding the full purchase payment could hand Sheffield United an unfair financial advantage over rival Championship clubs, potentially undermining competitive integrity.
The current owners acknowledge that approximately £35 million remains outstanding but insist the creation of 1919 Partners LLC is unrelated to the debt dispute. Negotiations regarding a potential resolution, including an offer to convert the liability into equity, have so far failed to produce an agreement.
Club defends restructuring
A spokesperson for 1919 Partners LLC rejected the allegations, stating: “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.”
The spokesperson added that the change creates “a stronger platform, more efficient and flexible ownership structure that further supports the long-term financial sustainability of Sheffield United,” and provides a mechanism for existing owners to invest additional capital alongside lender MSD Capital.
“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,” the statement continued.
League scrutiny
The EFL has contacted the club’s owners to establish whether they have complied with regulations regarding changes of control and financial obligations. 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.”
The dispute places Sheffield United under intense regulatory scrutiny just weeks before the new Championship season begins, with both the EFL and the Independent Football Regulator now monitoring the situation closely.