Sheffield United enter agreement with Australian bank secured on Premier League payments
Sheffield United have entered another agreement with an Australian bank secured on their payments from the Premier League, documents lodged with Companies House reveal.
In 2019, United became the latest club to set up a loan facility from Macquarie, effectively ensuring that they received an unspecified amount of money up front secured against their Premier League payments.
That agreement was understood to have run until last year, and documents lodged with Companies House show that another has been struck with Macquarie.
This route is increasingly becoming common practice for clubs, as well as the avenue of effectively ‘selling’ future transfer payments to investment banks in exchange for up-front cash - albeit with the bank taking a chunk for their troubles.
Like all clubs, United have been hit by a lack of matchday income caused by the Covid-19 crisis. They haven't welcomed supporters to Bramall Lane since March's victory over Norwich City.