Shock administration update emerges involving Sheffield United & Prince Abdullah | OneFootball

A shock update has emerged regarding Sheffield United, COH Sports, and Prince Abdullah.

Sheffield United are on the rise under Chris Wilder again, with January potentially a huge month at Bramall Lane. However, off-pitch complications could be set to arise surrounding Prince Abdullah and COH Sports.

In terms of Prince Abdullah, a decade-plus-long reign at the helm of the club came to an end just before Christmas of last year when it was announced that the American-led group COH Sports had completed their £105 million takeover of Sheffield United.

Sheffield United fans have been rated among the most sensible in the Championship, but the expectation under any ownership group is to become a Premier League club once more. The Blades are a second year parachute payment team in the Championship.

Chris Wilder faces a huge January window with the Blades in that sense, but other factors threaten to get in the way ahead of next month. That is if Prince Abdullah and COH Sports have further complications regarding the takeover and ongoing payments for the last year.

Sheffield United hit with threat of administration

Sheffield United were sold by Prince Abdullah last summer, with the former Blades owner sending well wishes upon his exit from Bramall Lane. In many ways, he certainly left the club in a better place than he found it in League One.

He bowed out with the Blades in the hunt for a second promotion to the Premier League in three seasons, which would have boosted his legacy more, had they managed to win the play-off final at Wembley against Sunderland.

That legacy could well be tarnished after Rob Dorsett of Sky Sports explained that he complained to the EFL and Regulator about COH Sports. It pertains to a late £10 million installment last month.

It's been paid since but under a threat of a winding-up order, which could have put the club into administration. It's reported that they had 21 days to pay the bill. However, that deadline came and went, and they were then given a further three weeks to settle the debt or face a winding-up order.

Prince Abdullah held talks regarding a minority stake in Sheffield United

Sky state that there remain two outstanding payments to complete the formal takeover. On top of that, it is understood that almost half of the agreed takeover price is still yet to be paid and is due to do so in the months to come.

Further to this, Prince Abdullah has also raised concerns about how COH might finance the running of the club in the future via a letter to the EFL, but Sky state the American venture capitalist group remain fully committed to Sheffield United and that they have no plans to sell.

There are no concerns that Sheffield United will be anything other than fully supported going forward, but COH are currently talking to a number of potential minority investors to try to produce a new influx of cash.

They even recently held talks with Prince Abdullah about the possibility of the crown prince re-investing and taking a smaller stake in the club. However, those talks ended without coming to any kind of agreement.