Sheffield Utd owner McCabe wins tender to invest in Ferencvaros
Sheffield United owner Kevin McCabe has won a tender to buy into Hungary's best known club Ferencvaros, ending a two-year saga during which the team was relegated due to its debts.
Hungary's National Asset Management Council said on Wednesday that McCabe's Hungarian firm, Esplanade Kft, would buy the struggling club's real estate, including its stadium in central Budapest for £8 million.
The deal will help Ferencvaros pay its debts and upgrade its stadium to meet FIFA and UEFA requirements.
McCabe said after preliminary talks last year that if his offer was successful, personnel from his English Championship club, Sheffield United, would be seconded to Ferencvaros to manage soccer operations.
The deal could also help United gain access to Hungarian players and would expand the English club's developing worldwide network.