Yup, it's confirmed: Saudi Prince just bought half of Sheffield United
A Saudi Arabian prince has become the joint owner of English third tier football club Sheffield United after buying 50 percent of its shares, according to UAE-based news portal Arabian Business.
Prince Abdullah bin Mosaad bin Abdulaziz Al Saud has bought half of the club from Kevin McCabe and will become co-chairman, it was reported on Tuesday.
The 47-year-old prince, a grandson of Saudi Arabia's founder King Abdulaziz, says he's investing in "a sensibly-organized, family and community club with a great history and heritage," Arabian Business reported
London and Dubai-based specialist consulting firm Forticap acted as the sole arranger for the transaction.
Financial details were not revealed by the northern English club, which was founded in 1889, according to the Associated Press.
- Putting the 'ease of doing business' index to test: all you need to know about setting up a business in Dubai
- What can the GCC learn from China's economic model?
- A blessing in disguise? The Lebanese respond to economic crunch with small cars
- Abu Dhabi as the Star Wars' set: the region's superstar?
- What will the effect of losing the World Cup be on Qatar? 'Very small' says study