NIGERIAN BILLIONAIRE DOZY MMOBUOSI CLOSES IN ON £90m TAKEOVER OF SHEFFIELD UTD
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Farouq Oduola A.
Nigerian billionaire Dozy Mmobuosi is reportedly close to buying out English Championship side Sheffield United in a deal worth £90million.
The Blades are pushing for promotion back to the Premier League this season but were hit by a transfer embargo last month amid financial difficulties.
The takeover by Mmobuosi, a Nigerian tech entrepreneur whose company Tingo has been valued at over £7 billion, is reportedly going to ease their problems.
The Times reports that Mmobuosi is currently being tested by the EFL’s owners and directors, but no issues have yet been raised.
According to reports, the restriction, which prevents them buying a player for the next 18 months unless they win promotion, was imposed because the Blades failed to keep up payment instalments on signings.
The restriction was put in place as Prince Abdullah the current Saudi owner was close to selling it due to financial instability.
Last year, American Henry Mauriss came very close to taking over the team, but the bid collapsed when he failed the EFL’s test.
However, The Times report the latest bid for the club is much more viable.
Sheffield United, which lost to Nottingham Forest in the play-off semifinals of the previous season, is on track to win automatic promotion back to the Premier League.
Currently second in the Championship table, they trail leaders Burnley by five points but have a 12-point cushion to Middlesbrough in third with a game in hand.
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