Prince Abdullah: ‘I do not get my money from an oil well, I work for it’

New joint-owner Prince Abdullah was quick to lay his cards on the table as he met the press at Bramall Lane before watching the Blades slump to derby defeat. Richard Hercock reports.
Prince AbdullahPrince Abdullah
Prince Abdullah

Sheffield United manager David Weir has the support of new Blades co-owner Prince Abdullah bin Mosaad bin Abdulaziz Al Saud despite their poor start to the season.

The Blades slumped to a 3-1 derby defeat to neighours Rotherham United on Saturday – their fourth loss in six League games – and sit in the bottom six of the table.

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The Saudi Arabian prince was at the New York Stadium to watch his new team lose, but the 47-year-old has been impressed with former Scotland international Weir.

“We need to improve,” said Prince Abdullah. “I trust David, but we have to give him the tools, because League One is very competitive.

“We’re not going to get promoted unless there is major improvement.

“I’m really impressed with David, his demeanor and the way he talks about football. I spoke to David and I liked him. I’ve met many coaches, Eric Guerets, Mario Zagalo. I know coaches and I know the sport.

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“Yes, we will be active in this loan window. The team is missing a striker, so we have to bring one in. The team has been performing well, but has had problems scoring. I know the game.

“I think we have had a horrible start. Four points out of five games is not going to get you anywhere.

“The team needs to improve and it needs to improve quickly.

“Whatever David and the team needs, we have to do.

“We need to start winning. Good performances are not going to take you anywhere. You are what your record says you are.”

That record reads one win in six, and that was over a month ago on the opening day of the campaign against 10-man Notts County.

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While the Prince has promised to back United with millions of pounds to strengthen the first-team squad, he revealed he would not waste money or try to become League One’s equivalent of big-spending Manchester City.

“Manchester City and Paris 
St Germain are different examples – they are clubs backed by governments,” he said.

“And I am sure they have their own goals, which may not be to turn a profit, they are maybe to bring good PR to their countries. And if they succeed, God bless them.

“But I am an investor, I don’t have money to throw away – I will not make any money unless the team gets promoted.

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“I don’t get my money from an oil well – everything I have, I have to work for,” added Prince Abdullah, a successful businessman, having started his own company, Saudi Paper Manufacturing Company, from scratch. The Saudi royal family have a reported wealth of £18bn.

“Some foreign investors have done stupid things, but some have been good; you can’t judge or paint all of them the same way.

“I am used to it. Because I’m a Saudi Prince you always fight perception that you have $18bn, that you don’t care about money, that you live lavishly… it’s not true.

“The more people get to know me, they will see that. We respect the traditions, we want to do it the right way, and we want to be successful – it’s no fun to lose. But we’re committed and, hopefully, it will come.

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“Family wealth? I don’t know what that is, but the money I have, I worked for. Even if it is my family money I’m not going to see any of that. So who cares if it’s my family wealth?

“If you read the club history it should be a top-10 club. It won’t be easy, I have no illusions it will be an easy journey, I won’t just put some money down and it will be there.

“We have to work hard, we have to appoint the right people, and we have also to have luck, it is a big part of sports. But I don’t think it’s a crazy goal.”

Prince Abdullah revealed it was the “chemistry” between himself and the McCabe family that clinched the investment deal at Bramall Lane.

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“Before I looked at Sheffield United, I had some criteria about the club I wanted to invest in,” he said.

“If I went into a partnership with someone, we had to have the right chemistry.

“I didn’t want to go into a club with huge debt because that would be detrimental to achieving my goals.

“Kevin offered me 50 per cent for £1 and said ‘just help us get back to where we belong’ – that was a very good first pitch.

“Hopefully, I made the right decision.”

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Jim Phipps, the Prince’s principal adviser who dealt with the day-to-day negotiations with the McCabes, said Prince Abdullah saw the potential at United.

“We are value investors,” he said. “Prince Abdullah believes in the old adage buy cheap and sell dear. Here, there is no intention to sell ever, the intention is to succeed.

“But it’s great to buy a club which is under value presently and has a great deal of potential. From an investment standpoint, it can be a good investment if we succeed.”