McCabe, whose Scarborough Group Holdings currently possess 75.17% of shares in the Blades, outlined his plans to the board at a meeting yesterday, although negotiations are at an early stage and no formal offer for the remaining stock has yet been made.

If the acquisition is successful, McCabe hopes to save money by delisting the company who own the club, Sheffield United plc.

United are the club which boasts a partnership with A-League club Central Coast Mariners.

The proposal on the table also includes plans to separate the football side of the business from property interests, to guard against the impact of a depressed market.