The bridging loan was the debt wasn't it. We needed the bridging loan to

pay for the promotion bonuses and contract enhancements we had to dish out.

Yes there is a longer term issue with the fact we can;t afford to pay the sort of wages our competitors will be offering but the fundamental issue whenever we get promoted to the premier league under these owners is that we cannot invest sufficiently in players in the summer because until the premier league TV money starts to come through we have no money, and indeed in this case we had to actually incur temporary debts just to pretty much stand still.

That said I still think they were ultra conservative given you don;t pay all of transfer fees up front, the saleable assets we have and with the guaranteed income we had to come.

Posted By: Jim, Jan 14, 12:33:42