Feeds

Bono's tech fund linked to Sheffield United desire

Project Red (and White)

Providing a secure and efficient Helpdesk

Elevation Partners, the Silicon Valley private equity outfit backed by Pope-bothering U2 frontman Bono, is eyeing a stake in FA Championship obscurists Sheffield United, it's claimed.

A report in Friday's Yorkshire Post said that the billion-dollar fund came to the Steel City this month for talks with club representatives. Elevation is reported to be vying with another, unnamed, US venture capital firm to invest in United.

Club chairman Kevin McCabe is keen for more backing to buy the Blades' way back into the Premiership. The meetings are said to be at an early stage, however, and it's noted that such negotiations often move in mysterious ways.

A 2-0 defeat to local rivals Sheffield Wednesday on Saturday finally prompted Blades manager Bryan Robson to admit that he still hasn't found what he's looking for in his current team, piling pressure on McCabe to bring in new cash.

The team were promoted to the top flight at the end of the 05/06 season, but immediately succumbed to vertigo and were sent straight back down at the end of 06/07.

Neither the club nor its alleged suitors have commented on the talks.

Bono's investment partners at Elevation include a former Electronic Arts president and ex-Apple CFO. The fund's tech ventures have included a stake in Palm, and a failed attempt to buy videogame publishing lemon Eidos.

Mandela's close personal friend's involvement in private equity has attracted charges of hypocrisy given his tub-thumping for African debt relief and other altruistic efforts. He has claimed disinterest in profits - which could work nicely at United given its turbulent financial history. ®

Bootnote

Yes, Sheffield United is your reporter's club. Yes, we're rubbish, and are likely to remain so, with or without you, Bono. Ahem.

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.