An African billionaire is reportedly on the verge of taking over English Championship club Sheffield United.

According to The Times, the takeover is worth £90million, and the buyer is the subject of the EFL’s owners’ and directors’ test at present but no problems have been flagged so far.

However, the identity of the African investor remains a closely guarded secret.

The proposed sale comes after the club’s recent financial difficulties which have led to a transfer embargo that, unless they secure promotion, prevents them from buying a player for the next 18 months.

The embargo was imposed by the EFL because the Blades failed to keep up payment instalments on signings.

Sheffield are on course to win promotion back to the Premier League automatically, as they sit in second place with a 12-point cushion to Middlesbrough in third with a game in hand.