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Sheffield United will net 18m from West Ham over Carlos Tevez saga

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25 Nov 2010 09:41:03

Sheffield United will net 18m from West Ham over Carlos Tevez saga

Under the Hammer: Blades will net £18m over Tevez affair Sheffield United are to receive a total of £18.1m from West Ham over the Carlos Tevez affair in stage payments that will be completed by 2013. The figure was itemised for the first time on Wednesday in the Blades' annual accounts. Chairman Kevin McCabe, who fought a prolonged legal battle over the controversial circumstances of his club's relegation from the Premier League in 2007, has pledged to use the money to make his club 'totally free of external debt.' It emerged that United borrowed £15m from Santander against the Tevez settlement and that the club now intend to repay the loan inside the next three years. McCabe said: 'As money comes in from West Ham, the debt reduces.' He spoke yesterday of ensuring that the club's only liabilities would be his own commitment, an investment in shares and loans of around £60m. The accounts reveal that United - whose retained loss of £18.6m is cushioned by the Tevez income - have sold Chengdu Blades, the club they owned in China, and have disposed of their interest in a hotel adjoining Bramall Lane.  Tevez will fire us to the title! Silva sends warning to Manchester City's big rivals It's not the Carlos Tevez show! There's more to City, insists Richards  Explore more:People: Carlos Tevez, Kevin McCabe Places: China


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