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Sheffield United face winding-up hearing in court as former owner United World claims COH Sports owes £35m | Football News

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Sheffield United’s owners are focused on the new season despite the club’s former owners suggesting they face a “real prospect” of administration ahead of an insolvency court hearing on Wednesday.

Sky Sports News reported last month that the club’s previous owners, United World, had issued a winding-up petition against the current owners.

United World, which sold Sheffield United to COH Sports Bidco, claims it is still owned £35m for the takeover.

If the £35m owed to United World is paid the threat of administration goes away.

As things stand, though, Sky Sports News understands that a winding-up hearing will take place on August 19 – and sources at United World have told Sky Sports News that it could result in co-owner Steve Rosen being banned from his role.

This is due to EFL Regulation 2.1.16, which states any owner involved in two insolvencies in 10 years can be disqualified.

It is understood that in 2023 US company Invacare suffered an insolvency event and Rosen was non-executive chairman.

It is also understood that if the owners are declared to be insolvent a 12-point deduction could be imposed on the club.

In a statement to Sky Sports News, United World said: “As the former owners of SUFC, United World does not want to see SUFC facing months of uncertainty that will follow the winding-up order being granted on 19 August, but in the absence of [Helmy] Eltoukhy and Rosen, both billionaires, agreeing to pay what they owe, we have no alternative but to take all legal steps to protect our interests.

“We understand that the EFL and the Independent Football Regulator (the IFR) are aware of this situation but so far, we are not aware of any intervention by either.

“United World has issued this public statement in the hope that it is possible to avoid the potential consequences the Club may face if this is not resolved before 19 August, after which we shall have no control over those consequences.”

The EFL is aware of the United World statement and will consider any relevant developments in line with its regulations.

Sources close to the Sheffield United ownership said: “We are disappointed Prince Abdullah is trying to hurt the club and its supporters with publicity stunts.

“The deal between sophisticated parties in 2024 was well advised by his financial advisors.

“Sheffield United is financially healthy, unlike under Prince Abdullah when the Club incurred a points deduction for missing payments to football creditors.

“Nonetheless, Helmy Eltoukhy and Steven Rosen invited Abdullah to re-invest in the Club and join the ownership of Sheffield United and to help use his skills to support our promotion efforts.

“Helmy and Steve are focused on the sustainability of the club and the season ahead.”

Sheffield United started the Championship season with a goalless draw at home to Birmingham.

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Jeanie Buss’ lawyers deny Lakers ownership sale, demand family stake vote be halted

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Jeanie Buss might not be done as the Los Angeles Lakers’ team governor.

Not long after it was reported that the Buss family intended to sell its portion of the franchise — a move that would lead to Jeanie’s ouster as team governor — her lawyers deemed the reported vote void. In a letter sent to her siblings’ attorneys, and obtained by The Athletic, that strategy constituted “a breach of trust, breach of fiduciary duty” and would put them “in contempt of court.”

The latest battle between Buss siblings comes in the wake of Mark Walter’s stunning decision to sell the Lakers to former Disney CEO Bob Iger and billionaire venture capitalist Josh Kushner for a reported $12.5 billion valuation. If the sale is approved by the league’s Board of Governors, it would be the richest in professional sports history.

The move opened the door for the Buss family to potentially sell their shares (worth approximately 17.8 percent of the business), but the parties clearly disagree on what it would take for that to happen. As was widely reported Monday, the siblings who voted to sell the family’s shares assert that four of the six beneficiaries of the Buss trust were needed for a passing vote. Yet Jeanie’s attorney, Adam Streisand of Sheppard, Mullin, Richter & Hampton Law, argued in the letter sent to her siblings’ attorneys that two previous legal rulings render that strategy improper.

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“No sale of the … 17.8% ownership interest in the Los Angeles Lakers, Inc. can be effectuated without approval by the current co-trustees, i.e., Jeanie, Janie and Joey Buss,” the letter reads. “The co-trustees are bound to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner. Any attempt by the co-trustees to do otherwise, and any attempt to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court.”

The letter cites a 2017 order from the Los Angeles Superior Court obtained by Jeanie Buss as part of its argument, indicating this course of action is prohibited.

“The Court ordered, among other things, as follows: ‘The Co-trustees of the Trust are hereby instructed to take all actions reasonably available to them, including voting the Trust’s shares, to ensure that (Jeanie Buss) is elected as the Controlling Owner of the Lakers on an annual basis during (Jeanie Buss’) lifetime absent a further order of this Court modifying the Trust based upon proof of circumstances justifying the modification under applicable law.’

“The Order remains in full force and effect,” the letter continues. “There has never been a modification of the Trust. No effort has ever been made to justify to the Court that there are circumstances for modifying the Trust, and there are no circumstances that could be proven to justify any modification.”

As The Athletic first reported last summer, Jeanie’s agreement with the Walter Group stipulated that she would remain the team’s governor for at least five years. Yet the sale to Iger and Kushner called that understanding into question, with Iger telling The California Post last week that he intended to honor the deal before qualifying his statement.

“If things change, they’ll change,” he added.

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Cardiff 1 – 1 Wrexham

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Cardiff earned the most dramatic point on their return to the Sky Bet Championship as Rubin Colwill’s stunning 98th-minute free-kick earned a 1-1 draw against Wrexham.

Former Bluebirds striker Kieffer Moore had given the visitors the lead with a cracking strike after just two minutes and 26 seconds at the Cardiff City Stadium, in the first meeting between the two Welsh sides in 24 years.

It was his seventh goal against Cardiff – against no side has he scored more in his career.

That looked to be enough to secure a winning start for the Red Dragons, who missed out on a place in the play-offs last season – and thus a chance at a fourth straight promotion – by a margin of just two points.

Cardiff had looked bright in spells, but found clear-cut openings hard to come by – and when Wrexham captain Dom Hyam headed a cross onto his own crossbar, it looked as though their final chance had come and gone.

But after George Dobson brought down Joel Colwill inches outside the penalty area, his older brother fired a beauty into the top-left corner to spark opening-night jubilation in South Wales.

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Kieffer Moore goal fires Wrexham into the lead inside three minutes against Welsh rivals Cardiff.

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Stunning Rubin Colwill free-kick snatches 90+8 minute equaliser against Wrexham.

The key moments in South Wales…

3: GOAL! Danny Imray’s ball over the top finds Kieffer Moore all too easily; he waits for it to bounce a couple of times, before catching it perfectly and firing a cracker across Nathan Trott.

6: CHANCE! Wrexham crowd the box, and when a Callum Doyle header is looped in from inside the six-yard box, Nathan Trott has to be alert to tip it over.

22: SAVE! Wrexham debutant Anthony Patterson comes from his line to beat Yousef Salech to a slack pass back to the goalkeeper.

36: OFF THE BAR! Moore rises to meet a corner from the right and sends a header skidding off the top of the bar.

58: OFF THE POST! Wrexham’s Callum Doyle opts to go alone instead of finding one of the many team-mates to his right in the box, then crashes a shot off the left-hand upright.

90+5: SO CLOSE! Dom Hyam gets up to defend a looping ball in from the right and crashes a header onto the crossbar and away.

90+6: LATE, LATE DRAMA! George Dobson brings down Joel Colwill inches outside the area and wins a free-kick.

90+8: GOAL! The roof comes off the stadium as Rubin Colwill fires an absolutely beautiful free-kick high into the top-left corner to earn a point for Cardiff.

Barry-Murphy: I had a feeling we may get one more chance

Cardiff head coach Brian Barry-Murphy speaking on Sky Sports Football:

“It was a difficult night. A very enjoyable night in the end. The game, naturally, didn’t go the way we wanted from the start because Wrexham started really well, scored a great goal and that took the wind out of our sails for a while.

“We started to show our quality throughout the course of the game and I just had the feeling at the end we may get one more chance. But, if I’m being honest, I thought it was probably done.

“We had a few games here last year where we found it difficult to break teams down when they were winning and sat deep, so I just tried to find a different solution and tried to get all of our goalscorers on the pitch.

“We got one or two late chances and Rubin provided the defining moment.”

Parkinson frustrated Wrexham didn’t put game beyond doubt

Wrexham manager Phil Parkinson speaking on Sky Sports Football:

“We’ve had enough chances to have killed the game off. We felt really comfortable in the game. Of course they’re going to come onto us towards the end, but could we have kept the ball better in the corner? We gave a cheap free-kick away and a quality player has stuck it in the top corner.

“In terms of the performance, it was good. I thought there were a lot of good performances out there; we had a real cutting-edge to our attacking play. We should’ve taken the game out of sight.

“In many respects, I can’t ask for much more, but as always, there are areas we can improve on.”

What the result means and next fixtures…

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Last-gasp DRAMA sees Cardiff earn point vs Wrexham on Championship return

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Highlights of the Sky Bet Championship match between Cardiff City and Wrexham.

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