Blades suffer for 'Tevez affair'

McCabe says the Blades are still paying Premier League wages

Sheffield United chairman Kevin McCabe has blamed the club's losses for the financial year ending 30 June on the 'Carlos Tevez affair'.

The Blades recorded an operating loss before interest and tax of �3.5m, having posted a �2.7m profit the previous year.

McCabe blamed the loss on relegation from the Premier League in 2007.

West Ham stayed up at the Blades' expense, despite an arbitration panel ruling Tevez was ineligible.

In a statement, McCabe said: "One can only ponder as to the potential turnover and profitability that may have been achieved were it not for the circumstances and events emanating from the media-named 'Tevez affair'."

The club maintained their salary spending on the first-team squad at Premier League levels to increase the chances of promotion.

The Blades reduced their football-related bank debt by �7.2m. The football debt remains at just over �3m.

McCabe added: "Turnover in 2008 was �32.1m, a reduction from the �44.2m of 2007, arising from our unjust relegation from the Premier League in May last year and thankfully limited due to the success of our off-the-field interests."