Global Upfront Newspapers
CoverLifeNewsSports

EPL: Nigerian Billionaire Prospective Sheffield United Owner Publishes Audit Of His Company´s Finances With $500m Cash Balance, To Strengthen Bid

  • His firm Tingo Inc has consolidated revenues of 1.15billion US dollars (about £930m) and made a net profit of 338.3m dollars (£273m) in the last financial year, with a cash balance of 500.3m dollars (£404m).

Nigerian billionaire Dozy Mmobuosi has published an independent review of his company’s finances by auditors from Deloitte to strengthen his bid to buy Sheffield United.

Mmobuosi, founder and group chief executive of IT service management company Tingo Inc, the parent company of Tingo Mobile, is currently subject to the English Football League’s owners’ and directors’ test.

The EFL said last month that “previously raised queries” with Mmobuosi had not been answered and were needed in order to rubberstamp a reported £115million takeover.

The accounts released by Deloitte, seen by the PA news agency, show Tingo Inc has consolidated revenues of 1.15billion US dollars (about £930m) and made a net profit of 338.3m dollars (£273m) in the last financial year, with a cash balance of 500.3m dollars (£404m).

Mmobuosi, reported to have met with EFL officials in Preston earlier this month, said in February that the chance to buy the Blades was too good to turn down.

He said: “Sheffield United was opportunistic, I felt the opportunity and grabbed it. I felt the energy in the city and the history the club has, it’s a no-brainer.

Nigerian billionaire Dozy Mmobuosi hopes to complete a takeover of Sheffield United (Isaac Parkin/PA)

Nigerian billionaire Dozy Mmobuosi hopes to complete a takeover of Sheffield United (Isaac Parkin/PA)

“I met with Prince Abdullah and we started talking. Unfortunately, I can’t say anything because I have agreed there will be a joint statement when it’s time. Fingers crossed when this deal is done we’re going to make a comment.

“There is nothing to hide, we are ready to go through the process. I’m not going to say if, I’m very certain it’s going to be done. I want to make the club a world-class club with the help of every professional around me.”

The Blades are pushing for Premier League promotion and sit second in the Sky Bet Championship, three points above third-placed Middlesbrough.

Advertize With Us

See Also

U.S. Abortion Activists Stripped Down To Their Underwear At Joel Osteen’s Megachurch Sunday Service

Global Upfront

Staff Of Anglican Communion-owned Paul University Awka Anambra State Protest Over 2-year Non-payment Of Salaries

Global Upfront

Two Chinese nationals under arrest for illegal mining in Zamfara State

Global Upfront

Nigeria’s Buhari: Political survival comes before federalism and freedom

Global Upfront

Oronto Natei Douglas (1966 – 2015): The Man, The Land, The People

Global Upfront

Destiny And Enemies Of The State

Global Upfront

Tinubu Celebrates Bishop David Oyedepo At 70

Global Upfront

Kano’s Carousel Of Careering Crises

Global Upfront

U.S. Deputy Secretary of the Treasury Wally Adeyemo Speaks At The U.S.-Nigeria Economic Relationship In Lagos, Nigeria

Global Upfront

Immigration: Record Number Of Asylum Seekers Entering Canada From U.S. Through Unofficial Crossing

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More