Sheffield United have revealed they have borrowed £10million to
help ease the financial burden of their relegation from the Premier
League.
Sheffield United Plc have announced the money has been raised
through an unsecured loan from SDG Caledonia Holdings Ltd.
Chief executive Jason Rockett said: "This investment is part of our
long term business strategy which includes reducing bank
debt.
"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 club have confirmed the loan is repayable by August 31,
2008.
