McCabe has been a key figure off the field for the Blades

McCabe told BBC Radio Sheffield that other commitments limit the amount of time he can devote to the role.

He said: "The chairman should be local and accessible to supporters, functions and events in the city and I can't be in Sheffield as much as I'd want.

"I'm far too busy and travelling too much so I need to hand the baton over soon. I actually live abroad and my business takes me all over the place."

McCabe has been in a key figure off the field in the Blades with financial stability in their return to the top flight for the first time in 12 years.

He was a prime mover as the Blades became the first foreign team to buy a Chinese club when buying a majority stake in Chengdu Five Bulls.

Speaking at today's AGM, manager Neil Warnock said he will soon discuss a new deal with the club.

Neil has the best Premiership job in football, and he knows that Kevin McCabe

He said: "He (McCabe) has said we will see where we are after Christmas.

"If we're in a good position we will have a couple of years, and then let's see where we go from there.

"But as I have said before, my contract is my ability. You could have a 10-year contract. I don't think it matters.

"If we continue like this then he will be in a situation where he will enjoy keeping me here.

"It's easier keeping me here than bringing in somebody else. It's not easy replacing a manager.

"But life will go on here without Neil Warnock, and life will go on without Kevin McCabe."

McCabe, though, is refusing to be pressed on the matter, believing his good faith relationship with Warnock is key to the situation.

"Everybody keeps asking about the contract. Neil's happy and I'm happy. Why does everybody worry about it?" questioned McCabe.

"Neil's worked here a long time. He knows there's an element of respect and the contract will be drawn up at the appropriate time, and that is not in December 2006.

"He has a contract that goes on trust and faith. That might be unusual, but it's fact, and that's why he has been here for such a long time.

"Neil has the best Premiership job in football, and he knows that. Why? Because he has been here seven years and he has a great association with myself."