Consortium aiming to complete 'rapid' Sheffield United takeover after passing key hurdle
The consortium which has been trying to buy Sheffield United since the summer has received "full clearance" from the Football League (EFL) to finally press ahead with a deal.
Steve Rosen and Helmy Eltoukhy made the announcement on behalf of COH Sports.
"We are pleased to have secured approval from the EFL and thank them for their thoughtful engagement on the process," read a statement. "This was the last outstanding matter, and we look forward to moving forward to completion as soon as possible.
"We want to see the club building on its strong start to this season and believe that only a rapid completion will allow us to support Chris (Wilder, the manager) and the team in securing the best result in the January window."
Prince Abdullah bin Mosaad bin Abudlaziz Al Saud has been looking to sell for a number of years after two spells in the Premier League showed him to be ill-equipped financially for the challenges posed by it.
COH are believed to have agreed a £105m price for a club the Saudi prince acquired outright in 2019 by buying out co-owner Kevin McCabe's 50 per cent share for £5m, plus a further £50m for club assets.
A sale was mooted at the end of last season but has been delayed by the ever-changing make up of the consortium and accusations of delaying tactics on the part of the prince. This public statement could be intended to put pressure on him to complete a deal.
Wilder spoke recently about the need for "clarity" ahead of the winter transfer window, which opens in practice on January 2.
With his team two points clear at the top of the Championship – it would be four but for a deduction for failing to pay bills on time in their last season in the division – Wilder is anxious to make the additions which can push the Blades to a return to the Premier League.
Previous attempts to sell to American Henry Mauriss and Nigerian Dozy Mmobuosi failed to get league approval, so COH's announcement is significant.
The Americans described COH as "a group of successful entrepeneurs, business partners and friends, established to invest in sporting opportunities."
Rosen is chairman and co-founder of private equity firm Resilience Capital Partners, whilst scientist and entrepreneur Eltoukhy co-founded biotech companies Avantome and Guardant Health.