Sheffield United co-chair could be disqualified after COH Sports Bidco wound up in £35m dispute
Sheffield United co-chair Steven Rosen could face disqualification by the English Football League after COH Sports Bidco Limited was wound up following a high court hearing in London on Wednesday, a development tied to a dispute over an alleged unpaid £35m.
The winding-up order follows a claim by Prince Abdullah’s United World that Rosen and his business partner Helmy Eltoukhy owe £35m in fees linked to the £110m sale of the Championship club in December 2024. United World filed the winding-up petition last month after Rosen and Eltoukhy transferred ownership of the club to a new parent company, 1919 Partners LLC, a move United World alleged was an attempt to avoid paying the outstanding amount. 1919 Partners concede £35m is outstanding to United World but insist the debt was not the reason for the restructure.
A club statement read: "Sheffield United Football Club is aware of today’s hearing at the high court," and added: "This is a matter between the current owners and former owner." A spokesperson declined to comment after Wednesday’s hearing.
Under English Football League regulations, any club official who is the subject of two insolvency events is prevented from acting as a controlling owner or director. Rosen was a director of Invacare, a US medical manufacturer that filed for bankruptcy in 2023, and that prior insolvency event could trigger EFL action requiring him to stand down and reduce his shareholding in United.
The EFL is also likely to launch a formal investigation into allegations that the club’s owners sought deliberately to avoid paying fees from their purchase of the club, an inquiry that the article says could lead to a points deduction if the owners are found guilty. EFL sources with knowledge of its rule book confirmed that an insolvency overseas would count as a disqualification event.
"The EFL notes the high court’s decision to issue a winding-up order on COH Sports Bidco Limited," an EFL spokesperson said. "The league will consider the implications of that development in line with its regulations, including whether any further action is required. In addition, the EFL continues to consider other regulatory matters following changes to the club’s ownership structure and developments within the wider group. As these issues remain ongoing, the EFL will make no further comment at this stage."
United World said it had tried to resolve the dispute before the hearing. "United World made every effort to resolve this matter amicably and tried until the morning of the hearing to give the owners a final opportunity to find a solution and spare Sheffield United the consequences of their conduct," the former owner said. "That approach, like everyone before it, received no response. It appears that Helmy Eltoukhy and Steven Rosen are simply not concerned about what this means for the club. What happens to Sheffield United now is the result of their choices."
The next formal step is for the EFL to consider the high court decision and determine whether any regulatory action is required under its rules, a process the league has said it will follow while making no further comment at this stage.