Former Huddersfield owner Dean Hoyle must be repaid loans of £35m made to the club by 31 August 2022.
As chairman and lifelong fan, Hoyle guided the club from League One and into the Premier League in 2017.
However, the 52-year-old sold his stake in the club to a fellow local businessman Phil Hodgkinson in May 2019 after recovering from a serious pancreatic condition.
Huddersfield have struggled badly since their relegation last season.
The Terriers were only three points above the Championship relegation zone when the season was suspended because of coronavirus.
Their accounts to 30 June 2019, released on Thursday, confirm the debt that must be repaid to Hoyle - and offer one explanation for why they did not invest as heavily in the transfer market as some fans hoped.
Under the agreement, £15m must be paid within five working days of the end of this summer's transfer window, with an additional £10m due on 31 August in both 2021 and 2022.
Hoyle is also due an additional £10m, although there is no firm repayment date for this sum.
In addition, a further £31m loan was taken out by the club, but that will be covered by Huddersfield's parachute payment for 2020-21.
"The financial impact of relegation is cushioned by Premier League parachute payments, expected to total £91m over the next three seasons," said Hodgkinson.
"We will use these funds to assist in our squad transition, settle outstanding transfer fees, invest in our infrastructure as well as servicing and repayment of our debt."