Sheffield United have borrowed £10million to cover costs following their relegation.
Sheff Utd borrow £10million
Sheffield United have borrowed £10million to cover costs following their relegation from the Premier League.
The Blades have raised the money through an unsecured loan from major shareholder SDG Caledonia Holdings Ltd.
United are determined to remain competitive on and off the pitch after dropping out of the top division last season.
"This investment is part of our long-term business strategy which includes reducing bank debt," chief executive Jason Rockett said.
"It is a strategic move in the wake of the inevitable reduction in income associated with relegation from the Premier League.
"This loan enables us to continue our robust business strategy - focused on staying competitive on the field and on growth off the field by maximising our business activities and opportunities."
The loan must be repaid by 31st August 2008.
