(Reuters) - Sheffield United’s Kevin McCabe has been ordered by a High Court to sell his 50% share in the English soccer team to co-owner Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, the Premier League club announced on Monday.
British media reported that the pair had fallen out in 2017 after launching separate bids to take over the Yorkshire club, who were promoted to the top flight after finishing second in the Championship last season.
They were involved in a legal battle for over 20 months which reached its conclusion on Monday and the Blades issued a statement here saying it would allow them to focus their full attention on the league season.
Prince Abdullah came on board as co-owner after buying a 50% stake in the then third-tier club in 2013, with McCabe hoping the deal would bring in substantial investment for the future as United chased a return to the Premier League.
“Kevin feels a deep sense of betrayal and is in a state of shock about the way that he has been treated by Prince Abdullah and he now deeply regrets going into business with him,” a spokesperson for the McCabe family said in a statement.
Prince Abdullah, a grandson of the founder of Saudi Arabia, was delighted with the outcome after McCabe was ordered to sell his stake in the club for 5 million pounds ($6.22 million).
"... This judgement brings to an end the uncertainty over Sheffield United's future," he said in a statement here
“Our manager Chris Wilder and the team are off to a promising start and we can now focus on this vital Premier League season under stable ownership.”
The Blades are in 15th place after collecting five points from their opening five league games this season.
($1 = 0.8036 pounds)
Reporting by Shrivathsa Sridhar and Hardik Vyas in Bengaluru; Editing by Ken Ferris