Sheffield United ownership. Two questions. 15:51 - Sep 16 with 859 views | WarkTheWarkITFC | https://www.bbc.co.uk/news/uk-england-south-yorkshire-49715558 1) Does anyone know why it is McCabe that has to sell to the other owner and not the other way around? McCabe has put in ten times the money as Prince Abdullah, so wondering how the court decided which party had to sell their shares. 2) Surely if McCabe made an offer to buy the Prince's shares for £5m in 2017 or allow the Prince to buy his, but it ends up in court two years later when the club has been promoted and is now worth 10 times that, the ruling should reflect the new value, not the value at the time the offer was made? Otherwise the Court have essentially ruled that it is 2017, McCabe has offered his shares for £5m and the Prince has to accept that offer - an offer the Prince DID NOT take at the time. How does that work exactly? | |
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Sheffield United ownership. Two questions. on 16:04 - Sep 16 with 815 views | Sikamikanico | We don't have all the facts but it sounds like there was a shareholders agreement in place which stated that if McCabe made an offer for the shares owned by the Prince then the Prince was entitled to make an equal offer that could not be refused. As McCabe did refuse then the delay would not be the fault of the Prince and therefore the original price stands. | | | |
Sheffield United ownership. Two questions. on 16:06 - Sep 16 with 796 views | WarkTheWarkITFC |
Sheffield United ownership. Two questions. on 16:04 - Sep 16 by Sikamikanico | We don't have all the facts but it sounds like there was a shareholders agreement in place which stated that if McCabe made an offer for the shares owned by the Prince then the Prince was entitled to make an equal offer that could not be refused. As McCabe did refuse then the delay would not be the fault of the Prince and therefore the original price stands. |
Thanks. That would make sense. Just didn't understand why McCabe would make an offer for the Prince to buy him out at £5m, the Prince accepted the offer and then McCabe refused to meet the terms of the offer he had made! In that situation then only right the ruling is he gets £5m now for his shares. | |
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Sheffield United ownership. Two questions. on 16:15 - Sep 16 with 780 views | Sikamikanico |
Sheffield United ownership. Two questions. on 16:06 - Sep 16 by WarkTheWarkITFC | Thanks. That would make sense. Just didn't understand why McCabe would make an offer for the Prince to buy him out at £5m, the Prince accepted the offer and then McCabe refused to meet the terms of the offer he had made! In that situation then only right the ruling is he gets £5m now for his shares. |
That's not exactly what happened. McCabe made an offer to buy out the prince for £5m in Jan 2017. I assume the prince rejected. There sounds like there was a clause in the shareholder agreement for the prince to make a reciprocal offer within 12 months for the same value that had to be accepted. | | | |
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