EPL: Nigerian businessman lands football club into financial crisis over fraud

EPL: Nigerian businessman lands football club into financial crisis over fraud

Sheffield United is in danger of having to repay a £10 million investment from Nigerian businessman, Dozy Mmobuosi, who is currently facing fraud allegations.

The football club has been warned by legal advisors that they may need to return £8.85 million plus interest if Mmobuosi is found guilty of the charges in the United States.

READ ALSO
Sheffield United deducted two points for next EFL season

This financial uncertainty comes as Sheffield United struggles in the Premier League and faces possible relegation.

If the team is relegated, it could lead to further financial issues, with a potential loss of £100 million, according to UK Sun Sport.

Mmobuosi, who has disappeared from his London home since January, currently has no trial date set for the fraud charges brought against him by US authorities following an FBI investigation.

READ ALSO
Tottenham complete double signing of Alejo Veliz and Micky van de Ven

Previously, Mmobuosi had shown interest in investing in other Premier League clubs such as Crystal Palace and Southampton, but his current legal troubles have put those plans on hold.

While reports reveal he had reached agreements with Sheffield’s owner, Prince Abdullah, and claimed to have paid a deposit, the English Football League (EFL) sought further clarification from him and the club, leading to the breakdown of negotiations between the Prince and the Nigerian businessman.

Stay Connected , follow us on: Facebook: @creebhillsdotcom, Twitter: @creebhillsblog, Instagram: @creebhills, Pinterest: @creebhills, Telegram: @creebhills
To place an advert/Guest post on our site, contact us via [email protected]

LEAVE A REPLY

Please enter your comment!
Please enter your name here