The staggering reported losses for investors after Sheffield United’s former sponsors collapsed

The staggering reported losses for investors after Sheffield United's former sponsors collapsed

The Sydney Morning Herald are reporting that liquidators to Union Standard Group, whose USG logo appeared on the front and sleeve of United’s shirts for the two seasons they were in the top flight after signing a club-record sponsorship deal, are investigating a “substantial volume” of claims investors have lodged with the Financial Complaints Authority in Australia.

Liquidators from BRI Ferrier believe almost £280m may have been lost in the scheme by customers. USG collapsed into administration last year after The Herald revealed sales representatives from the group were using fake Commonwealth Bank business cards and logos to attract investors. The Aussie bank was not involved with USG.

United have since entered into a sponsor partnership with Randox. Sheffield United wore the USG logo on their shirts for two seasons: Andrew Yates / Sportimage

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