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Kevin McCabe (Sheffield United)

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Kevin Charles McCabe is an English property businessman who serves as chairman of Sheffield United Football Club, a public limited company.

[edit] Business career

A native of Sheffield, Kevin McCabe set up in 1980 the property company Scarborough Holdings and formed a £50m joint venture between Sheffield United and Scarborough Holdings to invest in low-risk commercial property. United Scarborough, a £50m property joint-venture with his Scarborough property vehicle, sold two properties for a £1.6 million profit, £800,000 of which expanded the 2006–07 profit/loss margin.[1]

McCabe and his family's ownership of the Scarborough group has subsequently branched out into the Far East and China and has a portfolio of property valued at over £500m in the UK alone. The group owns Forsyth plc, a serviced office subsidiary which runs the Blades Enterprise Centre and also a 20% stake in both Frasers Property (UK) Ltd and FairBriar Holdings Ltd.

He is the chairman of FairBriar plc, a listed residential development company in both London and the home counties and was chairman of Scamp Holdings Ltd. Scamp Holdings owns 72.3% of Teesland plc. He also sits on the board of certain subsidiary companies of Bank of Scotland.[2]

On 27 June 2007, McCabe made £850 million by selling to the Australian company, Valad, his entire 60 per cent stake of Scamp Holdings Ltd, a former subsidiary company of his Scarborough group.[3] As part of the deal McCabe has invested Aus$100m in Valad and has been awarded a place on the boardroom. The remaining 40% of Scamp Holdings Ltd is still owned by Sheffield United plc.

According to the "Yorkshire Rich List", McCabe has amassed a fortune of about £100 million from his worldwide property empire.[4] Taking into account the sale of Scamp, the estimate ultimately proved to be incorrect. = Kevin McCabe has turned Sheffield United into a diversified property and leisure services enterprise which is leveraged around the football club. In October 2005, he revealed an interest in buying Chinese second division Chengdu Five Bull, which would become an addition to his previously-acquired property and investments in China, and Sheffield United, which toured China in 2006, has a football academy there.[5]

Sheffield United acquired a 90% controlling stake in Chengdu Five Bull Football Club in January 2006, and changed the name of the club to Chengdu Blades Football Club.[6]

It was confirmed on 6 September 2007, that SDG Caledonia Holdings Ltd. (one of Kevin McCabe's companies) will give a £10 million loan to Sheffield United.[7] The new finance, which has been offered on an unsecured basis, is designed to replace previous bank borrowings and enable the club to continue with plans for the future.[8]


In May 2007, McCabe launched a legal fight against an independent commission's decision not to punish West Ham United F.C. with a points deduction after the signing of Carlos Tévez and Javier Mascherano.[9] Sheffield United were relegated from English football Premier League on the final day of 2006–07 season. McCabe said that Sheffield United would turn to the European Commission for compensation if an independent arbitration panel failed to over-turn their relegation from the Premiership.[10]

A two-day arbitration tribunal was held on 18 June 2007, to examine the decision by an independent committee set up by the Premier League not to dock West Ham United league points for breaching rules governing the ownership of football players.[11] A statement made by the committee on 17 June explained that "Sheffield United are asking the arbitral panel to determine two matters. The first is whether the decision by the independent disciplinary commission on 27 April to fine West Ham, rather than dock points, was legally flawed such as to require the issue to be determined afresh by a disciplinary commission at some point in the future. The second is whether the Premier League acted unlawfully by not de-registering Tevez. Fulham are seeking similar relief. The arbitral panel have no power to decide what the penalty to be imposed upon West Ham should be. This will be within the exclusive remit of the disciplinary commission, if one is convened as a result of the arbitral panel's decision."[12]

McCabe and Sheffield United subsequently lost their arbitration appeal after the tribunal found in favour of the FA Premier League on both issues and dismissed the claims of Sheffield United. The three-man panel did not have the power to change West Ham's punishment but could have ordered a new independent commission to judge the case. The tribunal said they had "sympathy" with "the Blades", while West Ham had been "deliberately deceitful" and yet remained in the Premier League.[13]

As a result of the hearing, McCabe announced that Sheffield United would be "going to the High Court to appeal". McCabe accepted that Sheffield United will not be reinstated to the Premier League, but would be looking for up to £50m in compensation.[14]

On 13 July 2007, Sheffield United lost its High Court appeal against the Premier League. An arbitration panel upheld the original decision not to dock West Ham points over the transfers of Tevez and Mascherano. The Blades went into the High Court hearing seeking to prove that the arbitration panel made an "error in law" by not ordering a new disciplinary commission to deal with the affair - but the High Court rejected the argument. McCabe has continued to insist the club is due compensation, and indicated "other avenues that I think may be worth pursuing" after the High Court ruling.[15]

Sheffield United initiated legal proceedings against West Ham United on 16 August 2007, for substantial compensation after the club was relegated from the Premier League in 2006–07 season. United have estimated the cost of their relegation at between £30million and £50million. The Blades recently failed in their High Court bid to force the Premier League to take disciplinary action against West Ham, and claim West Ham failed to disclose vital information at the hearing. However, West Ham deny Sheffield United's claims.[16]

McCabe confirmed on November 7 2007, that Sheffield United's case for compensation following their relegation from the Premier League would be heard by a Football Association tribunal in mid-2008. Having failed in their attempt to have the original punishment overturned, United will seek monetary recognition and a financial settlement.[17] On 23 September 2008, McCabe revealed that the independent tribunal had finally ruled in his club's favour, finding that West Ham United F.C. did breach a duty to Sheffield United and should pay damages in an amount sufficient to compensate Sheffield United for the losses it suffered as a result of that breach of duty [18] It was also revealed that the tribunal will decide on the amount of compensation to be paid at a later sitting. In a statement on their club Website West Ham United said that they would take legal advice before deciding whether to appeal the decision. [19] On 15 October 2008, West Ham United filed an appeal with the Court of Arbitration for Sport.[20]. Subsequently Sheffield United filed a response which denied the jurisdiction of the Court of Arbitration for Sport. The FA supported Sheffield United's position in a letter to the Court of Arbitration for Sport which stated that 'The FA's position is that any award made by an arbitration tribunal convened under FA Rules is final and binding on the parties. FA Rules do not provide for right of appeal to CAS'. [21] On 10 November 2008, a hearing took place in the High Court in which Sheffield United were successful in their application for a temporary injunction to prevent West Ham United's appeal to the Court of Arbitration for Sport. [22] A further hearing is planned in the new year when Sheffield United will apply for a permanent injunction against West Ham United's appeal to the Court of Arbitration for Sport. On 08 January 2009 it was announced that the FA and Premier League would launch a new inquiry into the conduct of West Ham United over the Carlos Tevez affair, in light of the findings of the independent tribunal which found that West Ham United were in further breach of Premier League rules after the independent disciplinary commission's decision of 27 April 2007 [23] On 16 March 2009 Sheffield United and West Ham United announced that they had reached an out-of-court settlement. It has been reported that West Ham have agreed to pay between £15–£25 million although the actual figures have not been made public. In a joint statement, Scott Duxbury, the West Ham chief executive and Kevin McCabe said: "Both clubs are pleased to announce that a satisfactory settlement for compensation has been reached which brings the dispute between Sheffield United and West Ham United to an end. The tribunal will not be resuming." [24]

[edit] See also

[edit] References

  1. ^ Growth Company (accessed 15 June 2007)
  2. ^ Teeslan iOG (accessed 21 June 2007)
  3. ^ Blades boost after £850m McCabe sale (accessed 27 June 2007)
  4. ^ Insider Media Ltd (accessed 15 June 2007)
  5. ^ Political Economy of Football (accessed 15 June 2007)
  6. ^ Sheffield United take over Chengdu football club (accessed 21 June 2007)
  7. ^ Blades bring in funds (accessed 10 September 2007)
  8. ^ Blades' £10 million boost (accessed 8 September 2007)
  9. ^ West Ham handed record £5.5m fine (accessed 18 June 2007)
  10. ^ Blades will take fight to Europe (accessed 18 June 2007)
  11. ^ Premier League v Sheffield Utd (accessed 18 June 2007)
  12. ^ "Blades call on Anfield chief", Yorkshire Post, 18 June 2007. Retrieved 2 July 2007.
  13. ^ "Blades lose appeal on relegation.", BBC Website, 3 July 2007. Retrieved 4 July 2007.
  14. ^ "Blades secure date at High Court.", BBC Website, 5 July 2007. Retrieved 6 July 2007.
  15. ^ "Sheff Utd lose High Court appeal.", BBC Website, 13 July 2007. Retrieved 14 July 2007.
  16. ^ "Blades seek Hammers compensation.", BBC Website, 16 August 2007. Retrieved 17 August 2007.
  17. ^ "Sheff Utd fight for compensation.", BBC Website, 7 November 2007. Retrieved 7 November 2007.
  18. ^ "Tevez Tribunal Decision Explained.", BBC Website, 23 September 2008. Retrieved 28 September 2008.
  19. ^ "West Ham ponder Tribunal ruling.", BBC Website, 23 September 2008. Retrieved 28 September 2008.
  20. ^ "WEST HAM UNITED / SHEFFIELD UNITED: THE COURT OF ARBITRATION FOR SPORT WILL RULE FIRST ON ITS JURISDICTION .", 15 October 2008.
  21. ^ [1].stm "The FA's lawyers demand the final word on the Tevez affair"."], Daily Mail Website, 22 October 2008. Retrieved 28 September 2008.
  22. ^ [2].stm "Case No: 2008 FOLIO 1064"."], Bailii Database, 26 November 2008. Retrieved 5 December 2008.
  23. ^ "Fresh inquiry into Tevez affair.", BBC Website, 08 January 2009. Retrieved 08 January 2009.
  24. ^ [http://www.timesonline.co.uk/tol/sport/football/premier_league/west_ham/article5916907.ece.stm "West Ham United and Sheffield United reach agreement to end Carlos Tevez affair", Times website, 16 March 2009. Retrieved 16 March 2009.
Retrieved from "http://en.wikipedia.org/wiki/Kevin_McCabe_(Sheffield_United)"
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