Sheffield United renew ‘payday loan’ from ‘vampire’ bank ahead of Premier League return

Sheffield United have renewed their loan facility with Australian bank Macquarie, secured against their Premier League payments until the 2026/27 season.

The arrangement is United’s latest agreement with the bank secured on future income, with the Blades having previously lent against upcoming top-flight payments and transfer fees due from Arsenal over the transfer of Aaron Ramsdale.

Earlier this week The Star reported how a number of existing charges had been satisfied, leading to speculation amongst some sections of the fanbase that a breakthrough may be imminent in the search for new ownership. The exercise instead was more administrative, to consolidate United’s arrangements ahead of the later announcement on Companies House of the renewed loan from Macquarie.

United are not the only football club to enter into similar arrangements with banks, who are willing to loan millions of pounds to football clubs in return for an interest fee. Broadcast payments are paid to clubs in instalments while United are facing an expensive summer, with bonuses and increased contracts kicking in after promotion and a £20m transfer budget placed at boss Paul Heckingbottom’s disposal.

But the decision further highlights the delicate financial position at Bramall Lane, on the back of a transfer embargo imposed earlier this year and chief executive Stephen Bettis’ public admission that the club were not paying some suppliers in a bid to divert every available pound to the first-team promotion effort. Using money generated from season-ticket sales and FA Cup prize money, United confirmed the embargo had been lifted in April but would have faced a further EFL transfer ban had they not secured their place in the Premier League next season.

Macquarie have previously been nicknamed the “vampire kangaroo” because of its ruthless focus on profits but football finance expert Kieran Maguire has previously described such loan arrangements as more akin to a “payday loan”. Although the exact rate of interest from Macquarie is not revealed, Maguire has previously reported his belief that clubs typically pay between six and eight per cent.

The agreement, with the London branch of Macquarie, was signed at United’s end by director Abdullah Alghamdi, who is also chief executive of the United World operation. United have also renewed a mortgage secured on the club’s properties, including Bramall Lane.