Sheffield United will continue their legal counsel over the Carlos Tevez affair, with reports an arbitration panel will be established to rule on the case.

West Ham were fined £5.5million by an independent commission for having third-party agreements connected with Argentina internationals Tevez and Javier Mascherano after signing them last summer.

The Blades, who were relegated on the last day of the Barclays Premiership season, are challenging the legality of the commission's decision to impose a financial penalty rather than dock the club points and cancel Tevez's registration

The club's lawyers have instituted "arbitration proceedings" against the Premier League, and want a three-man tribunal set up to rule on the dispute.

Reports claim that request has now been agreed by the Premier League, and could be structured early this week.

The panel, though, would not hear the original case again, as Sheffield United want, but rather consider only the process of the independent commission, not the decision itself.

However, the report also claims should the arbitration panel find the original process faulty, then the matter could be referred back to the commission to review the punishment handed out to West Ham.

When contacted by PA Sport, a spokesman for the Premier League maintained their position was unchanged from before the weekend.

However, Sheffield United plc chairman Kevin McCabe has made it clear they will not accept the decision of the independent commission without a fight.

"I have meetings with my QC on Monday," he said.

"We are ready to get our team together within 24 hours to put our witness statements together.

"We will not rest until Sheffield United's position is protected from this unjust decision.

"We are not being unreasonable, but we do have very strong feelings on this.

"The Premiers League should be working to accommodate one of their member clubs who have been wronged."

The so-called 'Gang of Four' clubs, which also includes Wigan, have raised questions about whether Tevez should have been allowed to continue playing for the club once the third-party interest from Kia Joorabchian became apparent.

A six-page letter was sent to all 20 Premier League club chairmen from league chief executive Richard Scudamore and chairman Sir Dave Richards, saying there is no issue over whether Tevez was eligible or not to play for West Ham.

It adds that there has been no precedent set that the club should have been docked points for having a third-party agreement.