Having failed again to secure promotion to the Premiership through the play offs, Sheffield United face their first season in the Championship without a £11.2m parachute payment. They will be receiving compensation from West Ham over the Tevez affair. The exact amount has never been publicly disclosed and has been variously stated at £15m or £20m. It is believed, however, that it is payable over six years so it will not make a big difference to cash flow. However, the club’s chairman, Kevin McCabe, who owns 75 per of the club which is no longer listed on Aim, m
Having failed again to secure promotion to the Premiership through the play offs, Sheffield United face their first season in the Championship without a £11.2m parachute payment. They will be receiving compensation from West Ham over the Tevez affair. The exact amount has never been publicly disclosed and has been variously stated at £15m or £20m. It is believed, however, that it is payable over six years so it will not make a big difference to cash flow. However, the club’s chairman, Kevin McCabe, who owns 75 per of the club which is no longer listed on Aim, may still be singing on his way to the bank. The property developer, who lives in Brussels, sold his Scarborough property business to the Australian group Valad for £865m in 2007.