Nigerian billionaire, Dozy Mmobuosi, is set to buy Sheffield United in a deal worth £90 million.
The Blades are pushing for promotion back to the Premier League this season but were hit by a transfer embargo last month amid financial difficulties.
However their problems are reportedly about to be eased by the takeover by Mmobuosi, a Nigerian tech entrepreneur whose company Tingo has been valued at around £7 billion.
According to The Times, Mmobuosi is the subject of the EFL’s owners’ and directors’ test at present but no problems have been flagged so far.
They said the embargo, which prevents them buying a player for the next 18 months unless they win promotion, was imposed because Sheffield United failed to keep up payment instalments on signings.
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This included payments to Liverpool for forward Rhian Brewster, who was signed in October 2020 for £23.5 million but has failed to live up to expectations or his price tag.
Paul Heckingbottom’s side are on course to win promotion back to the Premier League automatically after they were beaten by Nottingham Forest in last season’s play-off semi-finals.
Currently second in the Championship table, they trail leaders Burnley by five points but have a 12-point cushion to Middlesbrough in third with a game in hand.
The club last played in the top-flight in 2020-21 and there would need to be squad investment in order to stay in the Premier League should they win promotion.
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