Sheffield United Football Club is grappling with financial uncertainty following allegations of fraud against Nigerian businessman, Dozy Mmobuosi, who had invested £10 million in the struggling English side.
According to reports, legal advisors have cautioned Sheffield United that they may be required to repay the £8.85 million investment along with accrued interest if Mmobuosi is convicted of the fraud charges brought against him in the United States.
The financial predicament comes at a challenging time for the club as they confront the looming threat of relegation from the Premier League. The potential relegation would exacerbate their financial woes, with projections indicating a staggering £100 million loss, as reported by UK Sun Sport.
The situation is further complicated by the absence of a trial date for Mmobuosi, who reportedly disappeared from his residence in London in January following the fraud allegations levied against him by US authorities after an FBI investigation.
Mmobuosi, aged 45, had previously shown interest in investing in other Premier League clubs such as Crystal Palace and Southampton. He was once considered a potential savior for Sheffield United with his proposed £115 million takeover bid.
Despite purported agreements between Mmobuosi and Sheffield United's owner, Prince Abdullah, including a claimed deposit payment, negotiations between the parties broke down after the English Football League (EFL) sought additional clarification, leading to the collapse of the deal.
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