SHEFFIELD UTD: DOZY MMOBUOSI TO PROVIDE £10m CASH INJECTION AHEAD OF PROPOSED TAKEOVER
Prospective new Sheffield United owner Dozy Mmobuosi has committed an eight-figure cash infusion to prevent the threat of administration.
The Nigerian hopes to complete a £90 million acquisition of the Blades from current Saudi owner Prince Abdullah in the coming weeks. The Nigerian made his fortune in technology and co-founded Tingo Mobile, which is currently valued at roughly £6 billion.
It is understood that Mmobuosi has pledged to support the club in advance due to their difficult financial situation as they strive for bpromotion back to the Premier League.
The money, estimated to be well over £10 million and paid in instalments, will covers running costs – including player wages – and as well as to keep up with routine bills.
Additionally, it is believed that they are keeping up with payments on previous transfers. The EFL imposed a transfer embargo in partially thanks to defaulting on transfer payments.
The financial position at Sheffield United has been a significant problem for the team all season, and there is an extremely real risk of going into administration, which would result in a 12-point deduction.
The Championship side is currently second placed on the table and 12 points ahead of Middlesbrough in third place meaning that any point deduction would severely hamper Premier League return hopes.
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