- Gill says all the money is available.
- We have £140m in the bank (true on Friday).
- He says we make a cash profit of around £90m each year (true).
- He says this comfortably covers the £45m bond interest each year (if 2x is comfortable then yes that is also true).
- He says that leaves £45m in cash coming in each year (true until someone lifts it).
So why, whilst doing the bond issue has the club put in place a £75m additional debt facility and said this about it (page 60 of the prospectus my emphasis):