Sheffield United bid to raise £10m

Sheffield United have announced to the Stock Exchange that they propose to raise £10m (€14.8) with a convertible loan notes issue, conditional on shareholders’ approval.

Up to £5m (€7.4m) would be used to invest in new players from the fund-raising.

Blades chairman Kevin McCabe issued a statement to the London Stock Exchange this morning which said: “This fund-raising will allow us to invest further in new players for our first team, improving our chances of remaining in the top flight, and to invest further in our off-pitch revenue streams.”