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.
