McCabe has said he might appeal the decision
McCabe has said he might appeal the decision TIM GOODE/PA

Sheffield United’s long-time owner will have to sell his 50 per cent stake in the club — worth around £50 million — to a member of the Saudi royal family for just £5 million after losing a High Court battle.

The British businessman Kevin McCabe and his family, who controlled Sheffield United Ltd, fought a legal action against UTB LLC, a company controlled by Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud, a member of the Saudi royal family.

The judge, Mr Justice Fancourt, ruled the McCabe family will have to sell their half-share in the Premier League club to Prince Abdullah, who owns the other 50 per cent, for £5million, in line with a previous legal agreement. The £5 million does not cover the…