Sheffield United will start next season on minus two points if they are relegated to the Championship after the Blades defaulted on payments to other clubs in the 2022/23 campaign.

The Blades were promoted in second place last season but have struggled to acclimatise in the Premier League. Finances have been tight at Bramall Lane despite the obvious influx of cash from being promoted.

The EFL said that Sheffield United were handed the sanction with payments cumulatively in excess of 550 days. It was also revealed a further two points will be deducted if they default on any payment to another club under a transfer or compensation agreement for more than five business days.

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Sheffield United are currently bottom of the Premier League, nine points off safety with seven games left to play and look destined to be playing Championship football next season.

In a statement, Sheffield United said: "It has been agreed that the Blades will commence the next season in which the club is subject to the EFL's jurisdiction with a two-point deduction. 

"The club's position in the proceedings was that the relevant sums relied on by the EFL had been paid in full, on several occasions only days after they were initially due, or renegotiated with new future payment dates adhered to before the club was notified of the referral.

"The club has co-operated with the EFL to reach a negotiated settlement on the issues in question.

"While disappointed to have the deduction imposed upon the return to the EFL and highlighting that awaiting overdue monies from several other clubs affected Sheffield United's financial situation, the club took the view that it was better to reach an agreement which minimised the risks of a higher deduction or further transfer embargoes being imposed and being distracted by lengthy and costly legal proceedings."