Nigerian billionaire’s takeover of Sheffield could fall through if ‘additional queries’ are unanswered

The Nigerian business mogul wants to buy Sheffield United from Prince Abdullah, but he has to tick all the boxes

The English Football League (EFL) has warned Nigerian billionaire Dozy Mmobuosi that his proposed takeover of Sheffield United will not happen if he fails to reply to some questions.

Sheffield was placed under a transfer embargo owing to a breach of rule 52.2. 3, which concerns the default of payments to another club. And the owner Prince Abdullah has shown a willingness to sell the club.

Nigerian technology entrepreneur Dozy Mmobuosi who is the founder of Tingo Inc., has been in talks to buy the club in a deal expected to reach €90 million. However, there have been a few bottlenecks.

Mmobuosi recently complained about the unfair treatment he has been suffering because of his race. He complained that he has been subjected to checks and double checks because he is African.

“I am one of the most scrutinized individuals that I know,” Mmobuosi said in an earlier report by Soccernet.

“I run a public company, the scrutiny for me is different and I feel that. My market cap is hit because maybe wall street has refused or failed to understand our message. But we are undervalued and I feel that if I weren’t Nigerian or African, it would have been different.

“So, I think the world needs to change this attitude of naming people, shaming people, or doubting people because they come from a certain place.” he added.

 

However, in a related development, the EFL have warned that they will complete all their checks on Mmobuosi before his takeover of Sheffield United is sanctioned.

 

“The EFL notes the comments from Dozy Mmobuosi in respect of a proposed change of control at Sheffield United.

“Whilst the league is in receipt of the share purchase agreement and owners and directors’ test declaration, alongside some evidence of source and sufficiency of funding, it has previously raised a number of additional queries with the proposed purchaser and the club.

“The EFL has been awaiting a response on those queries for some time and until the league is satisfied that the requirements of its regulations have been met, it will not process a change of control at the club.” reads the statement.

 

According to inside world football, Mmobuosi has outstanding County Court judgments against him in the UK for £30,109 for failure to pay his rent on a property in St Albans.

The 43-year-old entrepreneur incurred the debt between April and December 2020 despite repeated attempts to recover the money by the landlord’s agents and, subsequently bailiffs once the court judgment was issued in April 2021.

The EFL is known to have very stringent rules, and they leave no stone unturned in cases of club sales.

Mmobuosi would look to settle his issues, so he can assume ownership of the club as soon as possible.