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African billionaire ‘approaching £90m takeover of Sheffield United’ with Blades chasing promotion under an EFL transfer embargo after struggling to maintain £23.5m payments to Liverpool Rhian Brewster
- The identity of the African investor remains a closely guarded secret
- But the takeover is believed to be close to timely alleviation of the club’s financial woes.
- The EFL placed them under a transfer embargo after they were unable to make the payments.
Sheffield United ‘are close to being bought by an African billionaire’ in a deal worth £90m.
The Blades are pushing for promotion back to the Premier League this season, but were hit with a transfer embargo last month amid financial difficulties.
But its problems are reportedly about to ease with the acquisition, though the identity of the potential new owner remains a secret.
The weather report that the buyer is the subject of the EFL owners and directors test at present, but no issues have been reported so far.
They say the embargo, which prevents them from buying a player for the next 18 months unless they win promotion, was imposed because the Blades failed to pay transfer fees.
An African billionaire is reportedly closing in on a £90m takeover of Sheffield United
The Blades seek promotion to the Premier League but have financial problems
This included payments to Liverpool for striker Rhian Brewster, who signed in October 2020 for £23.5m.
United are reportedly trying to renegotiate the payment structure to Swedish club Malmo for Bosnian defender Anel Ahmedhodzic, who moved last summer.
The embargo was put in place because Prince Abdullah, the club’s current Saudi owner, was close to selling the South Yorkshire club.
Uncertainty over finances led to reports that the Blades would be forced to sell star midfielder Sander Berge during the January transfer window to raise funds.
The Norwegian has been linked with a £20m move to either Newcastle or Fulham, but the fact that United retained him is seen as a sign that his financial woes will be imminently resolved.
American Henry Mauriss came close to buying the club last year, but the takeover fell through after he failed the EFL test.
However, The Times reports that the latest African offer for the club is much more viable.
The club reportedly had trouble keeping up payments to Liverpool for striker Rhian Brewster.
It was feared that the Blades would have to sell midfielder Sander Berge during January.
Paul Heckingbottom’s side are on course to win promotion to the Premier League automatically after Nottingham Forest defeated them in last season’s play-off semi-finals.
Currently second in the Championship table, they are five points behind leaders Burnley but have a 12-point cushion to third-placed Middlesbrough with one game to go.
The club last played in the top flight in 2020-21 and there would have to be investment in the team to stay in the Premier League should they win promotion.