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HomeNewsNigerian African Billionaire to Takeover English Football Club

Nigerian African Billionaire to Takeover English Football Club

Nigerian African Billionaire to Takeover English Football Club

Sheffield United are on the verge of being taken over by an African billionaire as the club attempts to avoid a transfer embargo that has prevented them from making any more January signings.

Dozy Mmobuosi, a Nigerian billionaire, is closing in on a deal to buy Sheffield United for around £90 million, despite the club’s recent transfer embargo.

According to The Times, Mmobuosi is in the final stages of purchasing the Bramall Lane club.

The prospective buyer is still expected to pass the EFL’s owners’ and directors’ test, but ‘no problems have arisen’ thus far.

The Blades have been linked to a sale for some time, with current owner HRH Prince Abdullah bin Musa’ad bin Abdulaziz Al Saud struggling to keep the club afloat.

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Last year, the club’s hierarchy accepted a bid from American businessman Henry Mauriss, who had previously been linked with taking over Newcastle.

However, according to The Sheffield Star, Mauriss’ proposed takeover of the Blades fell through due to the complex financial structure he was using to try to purchase the Yorkshire club.

It means that Sheffield United is still looking for a new owner, and it is reported that Mmobuosi is behind this bid.

Mmobuosi first made his mark on the world when he founded Tingo Mobile PLC in Nigeria in 2001, and the company has grown since then.

In 2021, he established his foundation to “promote the progress of Africa and create an environment in which Africans can thrive,” with a focus on improving education, healthcare, and information technology development in his home country.

The Nigerian is worth around £7 billion and could give the Blades new financial hope after spending just under £4 million in transfer fees since January.

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The Blades are currently subject to a transfer embargo after failing to make a payment to another club.

The EFL confirmed on its website that its issue is related to the non-payment of an owed transfer fee.

They violate EFL rule 52.2.3, 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 the club shall not be permitted to register any player with that club without the league’s prior written consent until such times as the agreement is honored.”

This hasn’t affected the Blades’ performances on the field, with Paul Heckingbottom’s side sitting second in the table and needing a major setback to miss out on promotion this season.

With 18 games remaining, they are 12 points ahead of third-placed Middlesbrough.