The team behind the production of the world’s most expensive sports, arts and fashion books, which sell for up to £1 million, have led a management buyout of their company after a shortfall in funding.

Kraken Opus, led by Karl Fowler, the chief executive, was expecting a $10 million (£6 million) investment from an American backer, only to be told last month that the money would not be forthcoming. The company went into voluntary administration last week, an offer was made to existing shareholders and the buyout was formalised on Tuesday night.

Mr Fowler, a former Goldman Sachs derivatives and tax expert who set up the business that owns Kraken Opus in 2005, said that it was doing well.

A deal has been done with a new investor from the Gulf which means that the headquarters of Kraken Opus will move from London to the United Arab Emirates. It is understood that the $10 million investment was promised last summer but was put back a couple of times until it was pulled last month. “This gives us a huge opportunity to take the business where we want to,” Mr Fowler said.

The enormous Kraken Opus books are limited editions on subjects such as Dame Vivienne Westwood, the fashion designer, the Super Bowl and Manchester United. The least expensive titles sell for thousands of pounds each; the Opus on Manchester United changed hands this year for £1 million, making it the most expensive sports publication on record.

In the next six months Mr Fowler will release several new books, featuring subjects including the Rolling Stones, Celtic Football Club, the Vatican (with the co-operation of the private library in Rome), the journey to Mecca and Diego Maradona. The first 100 copies of the latter book will contain a sample of Maradona’s blood and hair. Another Opus, a diamond-encrusted pictorial account of the Prince concerts at the O2 arena last year, is expected to break the record sale price for a printed work when it comes up for auction later in the year.

A third Opus, on the 100 greatest boxing matches, will cost $100,000. Limited to 100 copies, it measures 1.5 (5ft) square metres and, at 160kg (350lb), must be the weightiest tome yet published, requiring special machinery to install.

The first in the print run for the forthcoming Prince work will have the symbol adopted by the performer etched in platinum on the front. Diamonds will be inlaid.

Buyers will also get a private performance for 50 guests from the diminutive star at his Los Angeles home.

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