Sheffield United face liquidation hearing in court as former owner United World claims COH Sports owes £35m | football news

Sheffield United’s owners are focused on the new season despite the club’s former owners suggesting they face a “real prospect” of administration ahead of a hearing at the insolvency court on Wednesday.

Sky Sports News reported last month that the club’s previous owners, United World, had issued a winding-up petition against the current owners.

United World, which sold Sheffield United to COH Sports Bidco, says it still owes £35m from the takeover.

If the £35m owed to United World is paid, the threat of administration disappears.

However, as things stand, Sky Sports News It is understood that the liquidation hearing will take place on August 19 – and Mundo Unidos sources have said Sky Sports News which could result in co-owner Steve Rosen being banned from office.

This is due to EFL Regulation 2.1.16, which states that any owner involved in two insolvencies within 10 years can be disqualified.

It is understood that in 2023 the US company Invacare suffered an insolvency event and Rosen was non-executive chairman.

It is also understood that if the owners are declared insolvent a 12-point deduction could be imposed on the club.

In a statement to Sky Sports NewsUnited World said: “As former owners of SUFC, United World does not want SUFC to face months of uncertainty following the liquidation order which was granted on August 19, but in the absence of [Helmy] Eltoukhy and Rosen, both billionaires, agree to pay what they owe and we have no choice but to take all legal measures to protect our interests.

“We understand that the EFL and the Independent Football Regulator (IFR) are aware of this situation, but so far we are not aware of any intervention from either of them.

“United World has issued this public statement in the hope that it will be possible to avoid the potential consequences that the Club could face if this is not resolved by August 19, after which we will have no control over those consequences.”

The EFL is aware of the United World statement and will consider any relevant developments in accordance with its regulations.

Sources close to Sheffield United’s owners said: “We are disappointed that Prince Abdullah is trying to damage the club and its fans with publicity stunts.

“The agreement between sophisticated parties in 2024 was well advised by their financial advisors.

“Sheffield United is in good financial health, unlike Prince Abdullah’s government, when the Club incurred a points deduction for non-payments to football’s creditors.

“However, Helmy Eltoukhy and Steven Rosen invited Abdullah to reinvest in the Club and join the ownership of Sheffield United and help use his skills to support our promotional efforts.

“Helmy and Steve are focused on the sustainability of the club and next season.”

Sheffield United began the Championship season with a goalless draw at home to Birmingham.