Sheffield United face a severe threat to their Championship survival from a £35m winding-up order against the club's former parent company. The High Court in London issued the order against COH Sports Bidco Ltd in December 2024 over an unpaid fee from the £110m sale of the club.

Current owners Steven Rosen and Helmy Eltoukhy transferred ownership from COH Sports Bidco Ltd to 1919 Partners LLC in a move described as an attempt to avoid paying the outstanding amount. The club issued a statement confirming it was aware of the high court hearing, clarifying it was a matter between current and former owners.

Steven Rosen, the club's co-chairman, has publicly defended the club's financial position. "At no point was the football club insolvent," Rosen said. "We pay our creditors on time, we pay our bills on time."

Regulatory investigation

The EFL and the Independent Financial Regulator are now investigating the club due to the parent company's winding-up, with potential implications under the league's insolvency rules. A 12-point deduction is a possible outcome, a precedent set when Southampton were penalised 10 points in 2009 after their parent company entered administration.

This comes after Sheffield United received a two-point deduction in April 2024 for defaulting on payments to other clubs during the previous ownership of Prince Abdullah. The club's recent form has been inconsistent, with three wins and two defeats in their last five matches, including a 2-1 loss at Stoke City last week where Kalvin Phillips scored.

Financial results and uncertainty

The club's 2024/25 accounts, now over a year old, showed a pre-tax profit of £2.6m, down from £3.9m the previous season. This was achieved despite a 42% drop in revenue to £79.3m, driven by a 49% fall in Premier League broadcasting income following relegation. Operating expenses decreased by £26.5m to £94.0m.

Off the pitch, four directors resigned in February, including Marvel film director Joe Russo. Rosen himself faces a potential director ban due to his involvement in two insolvencies within a 10-year period. The club is now considering selling a 20% minority stake to new investment partners, adding further uncertainty to the ownership structure.

Sheffield United's immediate focus returns to the pitch as they prepare to host Lincoln City on 10 October. The ongoing financial and regulatory issues cast a long shadow over the season, with the threat of a points deduction looming as the club fights to maintain its Championship status. The performance of key players, whose stats are available, will be key in this battle.

First reported at The Swiss Ramble