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Sheffield United are reportedly close to being taken over by an African billionaire.

The Blades have been up for sale for some time but an unnamed buyer is currently being examined under the Football League's owners' and directors' test, with optimism that a £90m deal will soon be completed, according to a report in The Times.

Despite their success on the field, the Blades have run into financial problems off it which have seen them placed under a transfer embargo for failing to make outstanding payments on transfer fees.

The longer the debt remains, the greater the threat of future sanctions.

But it was perhaps a sign of the club's confidence that a cash injection was close that they rejected the chance to sell any of their star players in the January transfer window, something which would have provided the funds to lift the embargo instantly.

The club is currently owned by Saudi Arabian prince Abdullah bin Musaid Al Saud, who originally came on board as an equal partner of then-chairman Kevin McCabe in September 2013 and bought him out completely in September 2019 after a process which dragged through the courts.

Late last season the club thought they had struck a deal to sell to American businessman Henry Mauriss but he did not stand up to Football League scrutiny. The early signs suggest that should not be a problem this time.

Sheffield United had no comment to make on the reports.

Sheffield United on verge of African takeover according to latest reports