Connect with us

Sheffield United

Blackwell can expect property cash

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 – making a gross profit of £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.

“Selling Thames is a strategic move by the club and will, in part, help underpin the continued investment in football,” Rockett said.

“With 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.”

The sale is part of a strategy aimed at concentrating United’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 £4m.

“The sale has realised a significant return on our investment,” Rockett continued.

“Thames 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.”

Click to comment

You must be logged in to post a comment Login

Leave a Reply

More in Sheffield United