As at this coming summer the club will have £0.25 Million of brought forward debt. It will owe Astor £8M and FSF £2.5M. There may be some Inland Revenue/VAT debt. Add in any new debts taken on this season. Some debts due to be settled this current year may have been re-arranged but we won't know until the next accounts are filed. It is unlikely if these are footballing debts. The additional contingent liabilities only become debts if certain things happen. All in all, the debt hangover will largely have been dealt with but that is a result of the club continuing to exist over time and not because anybody has done anything difficult or clever since Krasner took over. So long as the club was kept in business until the end of this season the debt would have eroded in the same way. Of course it was necessary to generate the income over that time, sufficient to keep the club going and to pay off the footballing debts. As the club had only £1M in the bank last summer and as Astor and FSF had loaned the club £10.5 M plus share capital increases of £4.5 M it seems that we have borrowed money from various sources linked to Bates and paid off the football debts with this money.
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