Sheffield United players have raised concerns about whether the club will honor the promotion bonuses of $8 million promised by the club after securing a Premier League return on April 26, 2023.
The club sealed promotion after defeating West Brom 2-0.
The £8 million is due to be split into two parts: 80 percent of the bonus fund will be divided based on Sheffield United’s appearances in the Championship, and the remaining 20% will be shared equally among all squad members.
Sheffield United’s bonus scheme is among the most generous in the United Kingdom.
However, the club has been racking up cash flow issues this season following the decision of club owner Prince Abdullah to put them on sale.
It was reported by the Daily Mail that all bonuses will be paid in line with the date on the players’ contract.
The club should be able to honor their financial commitments eventually, with promotion to the English Premier League worth a minimum of £170 million.
However, the club will not receive its first payment from the Premier League until the middle of July 2023. At that point, many players would have been sold in the transfer window and would not get the bonuses they deserved.
Sheffield United were also under a transfer ban by the EFL in January after failing to pay the amount due to Liverpool on the signing of Rhian Brewster, who played as a striker for the Merseyside club before moving to Sheffield United.
However, the transfer ban has currently been lifted.
Another financial crisis the club is facing is possible legal action from a Nigerian businessman, Dozy Mmobuosi, who had invested around £8 million in the club in takeover talks with Sheffield United owner Prince Abdullah, but the deal later collapsed.
The prince is still hoping to sell the club, but the process will take a long time.
Sheffield United’s financial problems are so disturbing that the club had to tell ground staff to cut back on the use of fertilizer and plants on the training ground in order to save money.
Without Mmobuosi’s investment and the £6 million generated from reaching the semi-finals of the FA Cup, the club would have struggled to pay the players’ salaries.
What next for Sheffield United after getting a Premier League promotion?
The club’s next target should be staying in the Premier League next season, and it can only be possible if tangible investment comes into the club.
The owner needs to sell the club before the beginning of the new season in the Premier League.
With the intensity and difficulty of the league, Sheffield United will have to get ready from now on.
Every fan will love their club to stay in the Premier League and enjoy the financial benefit attributed to playing in the league.
What do you think about Sheffield United players being concerned about Premier League promotion bonuses?
