Sheffield United have taken out a loan with Macquarie secured against £ 16million in Arsenal payments for Aaron Ramsdale.
This is not the first time the club have struck a deal with the Australian bank, having done the same with parachute payments after their relegation from the Premier League.
The loan was secured against two payments the Gunners owe United following the purchase of their goalkeeper in August.
Under the terms of their latest deal, documents filed with Companies House reveal the loan was secured against £ 8million due July 31 and a further £ 8million due next year.
It is common for large transfer fees to be spread over time in installments and United are not the only club to take out a loan of this nature.
A number of clubs have followed suit with institutions like Macquarie secured against financial rigs and this is seen as a faster way to access those funds.
United still owe money to other clubs for their own important signings made during their time in the top flight.
The loans are seen as the footballing version of a payday loan, with Macquarie nicknamed “Vampire Kangaroo” because of his focus on profits, taking a portion in exchange for the huge sum.
Football finance expert Kieran Maguire predicts the figure to be between six and eight percent.
Maguire, in an interview with the Sheffield Star , previously explained that the transactions follow the format of a payday loan.
“It’s a little more sophisticated, but if you have cash flow issues today and have money guaranteed in a month or a few months, the banks will lend you on the basis that when you get that money.” guaranteed, it’s gone to the bank. “