Sheffield United’s ownership arrangements are being examined by the new Independent Football Regulator after the company used to buy the club was wound up owing £35m to former owners United World. The case could test the regulator’s ability to assess owners’ integrity and financial soundness, while the EFL may also consider sanctions if it concludes the insolvency affected a company financially connected to the club.

Ownership was transferred from COH Sports Bidco Limited to 1919 Partners LLC two months before the former company was wound up, separating the club directly from the debt. BBC Sport understands neither the IFR nor the EFL was told of the ownership-structure change or of Timothy Ryan joining the board; rules require advance notice of ownership transfers and regulator approval for new owners or directors. Sheffield United has described the dispute as a matter between its current and former owners, while United World is seeking repayment.