Who is Jacob Esan? Not much is known about Jacob Esan or his track record but the U.K.’s Sheffield United seems quite excited to have him on their board. Read on…
Nigerian investment banker, Jacob Esan is said to have invested about $500 million in the U.K’s Sheffield United providing a much needed cash infusion into the football club.
The company’s C.E.O. Kevin McCabe is said to have invited the banker to invest in the company, inviting him to the board of both Scarborough Group International Limited and the football club.
A statement from the Bramall Lane club read: “Scarborough Group, controlled by the McCabe family, announces that an invitation has been extended to Jacob Esan of Nigeria to become a director of both Scarborough United Group plc (SUG) and Sheffield United plc (SU plc).
“SUG is a wholly owned subsidiary of Scarborough Group International Ltd (SGIL) which has an 85% shareholding in SU plc, which is the parent company of the famous Sheffield United FC (SUFC).
“Mr Esan will be working alongside the McCabes principally to facilitate the provision of capital from Nigeria permitting SGIL via SUG to further expand its businesses in real estate, leisure and services – with football at its hub.
“It is envisaged that new funds of up to $500m will become available within a six- to nine-month period for SUG to invest in all three business divisions and in particular in SUFC to assist in financing both First Team and Academy football.
“This is a part of the commitment by the McCabe family and Mr Esan to see the Blades returning to the top echelon of English football at the earliest opportunity.
“Mr Esan intends also to replicate similar skills and experience in his home nation and Africa in general. He also hopes to secure sponsors for SUFC from Africa.
Speaking on the deal, Mr. Esan said: ‘Working with the other members of the Scarborough team to create a major independent group with football as its core branded business, is an exciting challenge which I will relish. Given the anticipated size and scale of the reorganised group – and with it the famous Sheffield United – I believe the opportunity to access capital to advance the business interests in our three divisions – is of great importance.’
“‘I am committed to expanding all of SUG’s off the field activities taking advantage of opportunities available both in the UK and globally as a result of the continuing economic recession.’