Sheffield United will find out in September if they will be compensated after their complaints over West Ham's registration of Carlos Tevez.
The Hammers survived in the Premier League in 2007 at the Blades' expense after being fined £5.5m instead of being docked points.
Chairman Kevin McCabe said he remains hopeful about the upcoming verdict.
"It's down to the panel to make their award which should be September," he told BBC Radio Sheffield.
"The formal arbitration hearing was concluded last month but there'll be one more day at the end of July for further oral submissions."
The Blades said they were unfairly demoted from the top flight after West Ham were found guilty of breaching Premier League regulations in the signing of Argentine Tevez and his compatriot Javier Mascherano.
Rather than being docked points by the three-man arbitration panel, the Hammers were fined £5.5m and went on to survive the drop on the final day, while United were relegated.
In July 2007 the High Court refused United leave to appeal the panel's decision over the affair.
But McCabe has continued the club's fight for a financial settlement and it is being heard by a Football Association tribunal.
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