(Bloomberg) -- An American consortium led by a private equity executive is in takeover talks with Sheffield United, one of the biggest English football teams outside the Premier League.
Steven H. Rosen, who co-founded Cleveland-based Resilience Capital Partners, has been leading the negotiations on behalf of a group of investors, according to a person familiar with the situation.
A spokesperson for Rosen declined to comment, as did a representative for Sheffield United. Lazard, acting for Sheffield United, was unavailable for comment.
The price of any potential deal or who is joining Rosen’s bid, is currently unclear. Rosen is also a co-founder of Zanite Acquisition Corp., a SPAC that invested in the electric vehicle takeoff and landing unit of Brazilian planemaker Embraer SA.
Sheffield United, owned by the former Saudi sports minister Prince Abdullah bin Mosaad bin Abdul Aziz Al Saud, has been for sale since at least May 2023, according to an investor presentation seen by Bloomberg. The incoming consortium plans to invest capital in the player trading market in January to boost the team’s chances of winning promotion to the lucrative Premier League, the person said.
The club was relegated from the Premier League to England’s second tier, the EFL Championship, at the end of last season, causing its value to decline. To guarantee being promoted back, Sheffield United needs to finish in the top two spots. It currently is in second with 80% of the season remaining.
If Rosen’s group is successful, it would add to the ranks of Americans who own British football clubs. More than a third of the 92 professional teams in England’s top four leagues now have some form of US ownership, ranging from Premier League stalwarts Liverpool FC and Arsenal to Wrexham, the Welsh team that plays in the third tier and is owned by Hollywood stars Ryan Reynolds and Rob McElhenney.
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