Sheffield United owner Kevin McCabe has sold a 50% stake in the club to Prince Abdullah bin Mosaad bin Abdulaziz Al Saud.
The Prince now becomes co-chairman alongside McCabe after securing a 50% interest in the League One club's holding company Blades Leisure Ltd.
Prince Abdullah had this to say: "I am delighted to invest in such a sensibly-organised, family and community club with a great history and heritage."
"Joining Sheffield United FC at a time close to its 125th year in existence is significant to me and, like Kevin, I am determined to see it achieve its goals and look forward to working with the whole Blades community."
"However, money will be spent judiciously, and in any case we must comply with the Salary Cost Management Protocol."
McCabe said: "We are thrilled to be building this new partnership for Sheffield United with Prince Abdullah, who shares our vision for the Blades to join the top tier of English football."
"The McCabe family remains wholly committed and over the past 10 years has invested more than £90million in rebuilding our fine and proud club, which now has a top-class stadium, academy and junior development centre."
His son, Abdulraham Bin Abdullah, Turkish businessman Selahattin Baki and principal advisor James Phipps have been appointed directors of Blades Leisure Ltd.