I don’t think we cheated club’s fellow owner, prince says

A SAUDI prince embroiled in a battle for control of Sheffield United has told a High Court judge that he did not think he had “cheated” his co-owner.

Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud and Kevin McCabe, a wealthy Yorkshire businessman, are fighting over the running of the newly promoted Premier League club after falling out.

Mr Justice Fancourt is overseeing a High Court trial in London due to end later this summer. Sheffield United Ltd, a company controlled by Mr McCabe and his family, has alleged “conspiracy” and “unfairly prejudicial conduct”.

UTB LLC, a company controlled by Prince Abdullah, wants declarations in respect of its rights under an investment and shareholders’ agreement.

Mr McCabe, a life-long Sheffield United fan whose family have been involved in the running of the club for many years, has accused Prince Abdullah, who became involved six years ago, of “blatant” trickery.

He said he became concerned when a company controlled by Prince Abdullah last year transferred shares and added: “My view was that this was a blatant piece of trickery on the part of UTB, Prince Abdullah and his legal adviser Yusuf Giansiracusa.”

Mr McCabe said he thought that a scheme had been devised to “cheat him” out of the benefit of a buyout provision.

Lawyers representing Sheffield United Ltd told the judge that the club was worth “substantial sums” but said UTB’s case was “that they are entitled to take 50 per cent of the club for £5m”.

Prince Abdullah yesterday denied allegations made against him and told Mr Justice Fancourt: “I don’t think we have cheated.”

Mr Giansiracusa denied allegations made against him earlier in the trial. Mr McCabe has long been associated with Sheffield United and has invested about £100m, the judge has heard. Mr McCabe gave evidence early in the trial. The case continues.