Sheffield United owner Kevin McCabe has revealed that Saudi Arabian Prince Abdullah bin Mosaad bin Abdulaziz Al Saud has joined the club as a co-owner.
McCabe believes that the new investment will be "game-changing" for the League One outfit and says that it is a "long-term" project.
"We've been looking for partner investors for six years and this is fantastic," he told BBC Radio Sheffield. "This is game-changing for this club and the funds being invested in the team are substantial.
"The money being made available is for investment at first-team level and that means building a squad that can get us back to the upper echelons of English football. The partner is here for the long term and I've got to know him well, and I'm delighted that he's on board.
"The plan of action is simple and that is to improve the first-team squad whether that be through the loan system or in the January transfer window. I would also say to our supporters that this also ensures we can keep our own young players, hopefully on longer contracts."
United are currently 17th in the League One table with four points from five matches.
