Sheffield United could become the first major test of the Independent Football Regulator’s enforcement powers after the High Court wound up the company through which the club’s current owners bought it. The case matters because it will show how forcefully the new regulator can scrutinise ownership changes, unpaid debts and the financial conduct of a Championship club.

COH Sports Bidco Limited was wound up while owing £35m to former owners United World, although ownership had been moved to another parent company, 1919 Partners LLC, two months earlier. The IFR and EFL were reportedly not told of the ownership restructuring or the appointment of director Timothy Ryan; the regulator can assess the owners’ suitability and may issue a censure, fine or appoint a specialist to run the business. The EFL may also consider a points penalty, while the full club-licensing system is not due to begin until 2027-28.