McCabe has now got to sell his shares

[wrinkly]

Now that the issue has been dealt with, surely McCabe is entitled to half of the 120 million that Sheffield Utd got for being promoted to the Prem, as that happened before this ruling?

They didn't actually get anything for being promoted.
They will get £100 million plus from tv rights this season because they are in the prem.
This is income for the current season not prize money for last season.
It is, or rather will be, income of the club not an owners' bonus.

[Brin]

They didn't actually get anything for being promoted.
They will get £100 million plus from tv rights this season because they are in the prem.
This is income for the current season not prize money for last season.
It is, or rather will be, income of the club not an owners' bonus.

I'm quoting on the premise what I heard on football heaven last week, where the guest speaker said all clubs get 120 million for getting in to the Prem. Yes I know it comes from TV rights etc and not just given to them but, McCabe part owned the club that helped get them secured in to the Prem with his donations so, does he get half of the 'TV rights' the club will now be paid or not?

[wrinkly]

I'm quoting on the premise what I heard on football heaven last week, where the guest speaker said all clubs get 120 million for getting in to the Prem. Yes I know it comes from TV rights etc and not just given to them but, McCabe part owned the club that helped get them secured in to the Prem with his donations so, does he get half of the 'TV rights' the club will now be paid or not?

He'll get his £5 million and then he's done. The income from TV rights will eventually go the limited company that is the club. It is merely part of the income of the club for being in the prem, exactly the same as gate receipts, merchandising etc.
The Prince will have to buy the Stadium and Hotel as well, presumably McCabe will get some, or all, of that.

[Grist_To_The_Mill]

He'll get his £5 million and then he's done. The income from TV rights will eventually go the limited company that is the club. It is merely part of the income of the club for being in the prem, exactly the same as gate receipts, merchandising etc.
The Prince will have to buy the Stadium and Hotel as well, presumably McCabe will get some, or all, of that.

I think the Prince now has to buy the training ground.

The £5 million for the shares is based on the valuation of the club decided by the court, a figure thought to be too low, so McCabe gets less.

A very lucrative case for the legal people.

[wrinkly]

I think the Prince now has to buy the training ground.

The £5 million for the shares is based on the valuation of the club decided by the court, a figure thought to be too low, so McCabe gets less.

A very lucrative case for the legal people.

I think that the Prince bought half the club for £1. Part of the agreement was that he also invested £10 million (I think) in the club and a clause in the agreement was that he could buy the other 50% for £5 million. I believe that the £5 million is per the agreement rather than the court's valuation.

[Brin]

He'll get his £5 million and then he's done. The income from TV rights will eventually go the limited company that is the club. It is merely part of the income of the club for being in the prem, exactly the same as gate receipts, merchandising etc.
The Prince will have to buy the Stadium and Hotel as well, presumably McCabe will get some, or all, of that.

McCabe sold the hotel to the club so that isn't his anymore. Depends which company it now falls under, who gets what.

[wrinkly]

McCabe sold the hotel to the club so that isn't his anymore. Depends which company it now falls under, who gets what.

That's a very good point Brin. The hotel and stadium are, reportedly, owned by Sheffield United Ltd, as you say, the club. So, in effect, the Prince's company, which will own 100% of the club, will be buying the properties from itself.

[craftymiller]

That's a very good point Brin. The hotel and stadium are, reportedly, owned by Sheffield United Ltd, as you say, the club. So, in effect, the Prince's company, which will own 100% of the club, will be buying the properties from itself.

Dont let Middlesborough know.

[jocksgloves]

So both City clubs are now foreign. Who'd have thought it.

[Grist_To_The_Mill]

McCabe’s solicitors are probably wanting him to appeal.

Kerching!

New car on the way