Sheffield United have been handed a two-point deduction for the start of their next season in the EFL.

The Blades have also been handed an additional two-point suspended deduction for the end of that same season, depending on whether the club defaults on any further payments.

The sanction relates to the 2022/23 season when the clubs defaulted on a number of payments to other clubs.

These defaults cumulatively were in excess of 550 days.

Sheffield United has also agreed to pay the EFL’s costs in the sum of £310,455.

A statement from The Blades said: "Sheffield United notes today's statement from the EFL with regards to breaches by the club of regulations 52.2.3 and 52.2.4 in the 2022/23 season.

"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.

"The club is now in a position to close this matter and concentrate on the future."

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Sheffield United are currently sitting 20th in the Premier League with relegation looking like a distinct possibility.

The club are currently nine points from safety with just seven matches remaining this term.

Should they suffer the drop, that means that the points deduction would come into play at the start of next term.