Sheffield United have been dragged into an increasingly serious ownership dispute after a company linked to the club’s co-chairs was wound up by the High Court in London.
COH Bidco Sports Ltd (CBSL), the company used by Helmy Eltoukhy and Steven Rosen to acquire Sheffield United from United World in 2024, was the subject of a winding-up petition over an alleged £35 million unpaid debt.
United World, the club’s former owners, brought the petition against CBSL, claiming the money remained outstanding following the takeover.
The High Court hearing was remarkably brief. Judge Paul Greenwood granted a compulsory winding-up order, with the proceedings reportedly lasting only around 10 seconds.
The development adds another layer of uncertainty around Sheffield United’s ownership structure.
Eltoukhy and Rosen became co-chairs of the Championship club following the 2024 takeover.
However, CBSL no longer owns shares in Sheffield United after those shares were transferred to 1919 Partners LLC, a US-based company that now sits above the club within its ownership structure.
That means CBSL does not currently have effective control over the day-to-day running of Sheffield United.
Despite the court action, the club itself was not a party to the winding-up petition and continues to operate as normal.
However, the situation has attracted the attention of the English Football League (EFL) and the Independent Football Regulator.
The EFL will now have to consider whether the circumstances surrounding the winding-up order breach its regulations.
One potential consequence could be a points deduction, with a 12-point penalty understood to be among the possible sanctions.
United World, which previously owned Sheffield United, issued a strongly worded statement following the court ruling.
The former owners claimed CBSL did not dispute the debt and had failed to provide a defence.
“The High Court today ordered the winding up of COH Sports Bidco Limited, the company Helmy Eltoukhy and Steven Rosen used to buy Sheffield United Football Club from United World,” United World said.
“No defence was filed and the debt of more than £35 million was not disputed.
“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. That approach, like every one 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.
“United World will continue to pursue the full sums owed through every legal avenue available, including against those personally responsible, and will support the officeholders of COH Sports Bidco with their investigations.”
The immediate concern for Sheffield United is whether the ownership dispute will trigger action from football authorities.
The club was not directly involved in United World’s legal petition, but the EFL is now expected to examine the circumstances surrounding the winding-up order and determine whether its rules have been breached.
For a club preparing for another demanding Championship campaign, the possibility of a points deduction would represent a major sporting setback.
The ownership situation also places increased scrutiny on the leadership of Eltoukhy and Rosen, particularly as United World has indicated that it intends to continue pursuing the money it claims is owed.
With legal proceedings still potentially ahead, Sheffield United could now face a battle both on the pitch and in the boardroom.
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