Debt Free?

[Ted Danson]

Just read this article that says we're debt free:

http://www.insidermedia.com/insider/yorkshire/46534-debt-free-blades-more-attractive-investor-birch

does that mean we'll be in profit in a couple of years when we get the rest of the Tevez cash?

 

[sheffielder]

No, we will be debt free when the Tevez money has been fully paid against a loan we have with the bank

 

[Houso]

And this is 'bank debt free' rather than 'debt free'.

We owe tens of millions to Big Kev still, but the assumption is that will be packaged with any takeover/investment.

Sadly, Wednesday actually had an easier path to a takeover despite the fact that they owed so much the Co-Op.

 

[sheffielder]

This is the point I don't get. WE don't owe anything to KM, Kev owes himself as the owner of the club. Unfortunately it doesn't make us investable (if that is a word) and we will be stuck with Kev for a long time yet, as he is going to dilute the debt to himself by issuing more shares.