Property player, ‘Blades’ fan and major shareholder Kevin McCabe continues to turn Sheffield United into a diversified property and leisure services business leveraged round the football club.

The world’s oldest ‘United’ is currently raising £10.7m through a discounted one-for-two offer to finance a corner stand ‘infill’ at Bramall Lane, back a Premiership promotion push, and fund the £4m acquisition of a fitness club. The latter is based at Staines Town Football Club, which will become the group’s flagship ‘Impact’ gym. A thriving health club is already up and running at the group’s innovative player training ‘Academy’ at Shirecliffe, which also brings in pitch-hire revenues from local community and corporate users.

Other highlights amid a raft of initiatives include a buoyant serviced office business at ‘the Lane’, where a planned hotel/casino complex is also warming up on the touchline (construction could kick off as early as May if planning gets the nod), and the recent acquisition of the Chengdu Five Bulls football team in China to push the group’s commercial gold-rush there. Elsewhere, United Scarborough (a £50m property joint-venture with McCabe’s Scarborough property vehicle) has just sold two properties for a £1.6m profit, of which £800,000 will swell the current year profit and loss.

With so many revenue streams coming together, Sheffield United is starting to look a rational, rather than an emotional investment. The icing on the cake is the team’s on-pitch performance under excitable gaffer Neil Warnock, where business-changing promotion to the lucrative Premiership looks on the cards.

Last year to June, losses reduced by 57% to £300,000, on turnover lifted 10.2% to £13m, and though losses are forecast again this year, net assets continue to rise impressively and Sheffield United offers bolder investors a more robust shot at long-term sustainable revenues and returns. If exposed already, back the offer. If not, stay posted for developments.