Kevin Blackwell is expected to be handed a strengthened transfer budget after Sheffield United chairman Kevin McCabe sold part of his property portfolio.
McCabe, who has a growing portfolio of leisure and property ventures, has sold the Thames health club in Staines, Middlesex â€“ making a gross profit of Â£0.7m in the process. Blades chief executive Jason Rockett confirmed that the money will aid investment in the first-team squad aimed at regaining the Premier League status they lost controversially two years ago.
McCabe – oversees the sale of United’s property portfolio.
â€œSelling Thames is a strategic move by the club and will, in part, help underpin the continued investment in football,â€ Rockett said.
â€œWith the opening of the Copthorne Sheffield Hotel taking place in autumn 2008, which includes a new health club, it makes sense to realise a significant profit from the sale of the Thames Club allowing us to focus our capital and management resource on the new challenges.â€
The sale is part of a strategy aimed at concentrating Unitedâ€™s off-the-field interests in and around the South Yorkshire area. The health club, boasting facilities including a 20m swimming pool, a sauna, conference centre and a sports bar, was acquired by The Blades in 2006 for Â£4m.
â€œThe sale has realised a significant return on our investment,â€ Rockett continued.
â€œThames was part of the diversification of our-off-the-field business through leisure and property, which will now have a much greater focus on South Yorkshire.â€
- Serie A clubs vote in favour of season restart by mid-June
- Premier League aiming for a restart in early June
- Manchester United to resist bids for highly-rated English goalkeeper: report
- Two Chelsea players who could head through the exit door this summer
- Arsenal become first Premier League side to confirm voluntary player pay-cuts