Sheff Utd chairman Kevin McCabe says the club's financial losses are down to the Carlos Tevez affair.
Blades cash losses blamed on the Carlos Tevez affair
Sheffield United chairman Kevin McCabe says the club's financial losses are down to the Carlos Tevez affair.
The Blades have announced an operating loss before tax and interest of £3.5million compared to a £2.7million profit this time last year.
Tevez was the man who effectively relegated Sheffield United from the Premier League when his goal beat Manchester United on the last day of the 2006/07 season to keep West Ham up at the expense of The Blades.
But irregularities had already been found in his contract rendering him ineligible to play - and The Blades have been campaigning for compensation ever since.
McCabe said: "One can only ponder as to the potential turnover and profitability that may have been achieved were it not for the circumstances and events emanating from the media-named 'Tevez affair'.
Defiant
"Sheffield United are now a robust, strong and proud club, who will simply not back down or walk away from tackling head on those organisations responsible for the shameful actions and events that have tarnished English football."
McCabe added: "Turnover in 2008 was £32.1million, a reduction from the £44.2million of 2007, arising from our unjust relegation from the Premier League in May last year and thankfully limited due to the success of our off-the-field interests."
The Blades are hoping to recoup some of that deficit with compensation figures of up to £50million being bandied about after an arbitration panel ruled that the Argentinian should not have been allowed to play.
West Ham say they have already been punished by the £5.5million Premier League fine, and have this week launched an appeal against an injunction that blocks them from appealing to the Court of Arbitration for Sport.
Both sides will meet the arbitration panel in March to thrash out a compensation deal, but the longer it drags on, the more likely it will be that the case is settled out of court.
