American consortium confident Sheffield United on the verge of £100m takeover after EFL approval

Sheffield United are reportedly on the verge of being taken over by an American consortium pending approval from the EFL. 

According to the Telegraph, negotiations between current owner Prince Abdullah and the Silicon Valley-based investors are advancing over a sale worth more than £100million. 

Talks have advanced in the last week and there is confidence that the deal will be completed. The reports also states that members of the consortium have travelled to England to close the deal having completed their due diligence. 

Plans have gone to the EFL who will conduct an owners and directors’ test. The potential owners will also be asked about their plans for the future as well as proof of funds. 

The expected takeover comes despite the Blades relegation from the Premier League after a dismal campaign which they ended at the bottom of the table. 

Negotiations between current owner Prince Abdullah (pictured) and the Silicon Valley-based investors are advancing

The capital investment were said to be interesting in buying Sheffield United last year but a deal did not go through and talks revived after the club’s relegation. 

The new owners have been looking at potential summer transfers. with Chris Wilders’ squad in need of a rebuild with a number of players set to depart after dropping down to the Championship. 

The Blades picked up just 16 points all season having won three games in a campaign to forget.  

Nigerian tycoon Dozy Mmobuosi was in talks to buy Sheffield United last year before the deal failed to materialise. 

Mmobuosi has since been accused of fraud by the US Securities and Exchange Commission, an allegation that he denies. 

Should the deal go through, Sheffield United will become the latest English club owned or partially owned by Americans, following in the steps of the likes of Manchester United, Arsenal, Liverpool, Chelsea, Birmingham City and Leeds United.