By Sean Fisher

5th Jul, 2023 | 6:00pm

Revealed: Sheffield United hit by £48m blow as documents filed

Sheffield United saw their club turnover drop a staggering £48million in their 2021/22 accounts, Football Insider can reveal.

The Blades suffered major financial losses in their first season back in the Championship following their relegation from the top flight.

The Yorkshire club filed a Companies House submission on 3 July detailing their financial accounts for the 2021/22 season.

United posted overall losses of £15.2million over the fiscal year, with club turnover dropping from £115million to £67million over 12 months.

The £48million drop can be mostly attributed to the steep reduction in broadcast revenues between the Premier League and Championship.

United’s broadcast revenue in 2020/21 was £101million, but that figure slumped to £50.7million after relegation, which includes parachute payments.

Sponsorship and advertising income also shrunk, dropping from £10million in 2020/21 to £3.6million in the EFL.

The club’s losses were, however, helped by the £24million sale of goalkeeper Aaron Ramsdale to Arsenal.

A concern for Sheffield United will be their creditors, with the club’s accounts showing that the club have over £80million liabilities due to be paid within the next year.

The Blades failed to return to the Premier League at the first time of asking, but Paul Heckingbottom led the team to automatic promotion in 2022/23 with a second-placed finish.

Football Insider analysis expects Sheffield United’s turnover to rise north of £105million in 2023/24 after the club secured its return to the Premier League.

In other news, Sheffield United plan to accept a £10m offer for first team star this summer