Promotion to the Premier League will account for the major revenue increase, rising to a minimum of around £300m over a five-year period if the Blades avoid relegation in their first season.
However, the outlook isn’t as bright for Yorkshire rivals Leeds United, whose failure to win promotion either automatically or through the Championship play-offs means they miss out on the windfall, as do Middlesbrough who were pipped to the play-off spots.
Derby County, who beat Leeds in the semi-finals, face Aston Villa in tomorrow’s Championship play-off final – the most lucrative one-off match in world football.
Sam Boor, senior manager at Deloitte’s Sports Business Group, said: “The financial prize for Aston Villa or Derby County, as well as Norwich City and Sheffield United, is likely to reach £300m if they survive the first season in the Premier League.
“Furthermore, any club that enjoys a sustained period of participation in the Premier League could be expected to challenge for a place in the top 30 of the Deloitte Football Money League of the highest earning clubs in world football.
“Promotion to the Premier League provides clubs with the financial resources to make strategic investments both on and off the pitch, and, given the relatively equal distribution of revenue amongst Premier League clubs, it provides promoted clubs with a chance to avoid relegation when they get there.
“However, significant investment in playing talent in an attempt to retain Premier League status is risky and does not guarantee safety.
“Recent seasons have seen some promoted clubs survive after restrained spending, while others have gone down despite big spending.”
The £170m incremental revenue is a combination of extra revenue Sheffield United will earn from playing in the Premier League in 2019/20, at least an extra £95m, mostly from broadcast and commercial revenue generated from the Premier League.