gross debt, basically the total size of the two bond issues is something like 250 million quid. no chance to pay that back early either since its not feasible to buy those bonds back on the open market. one those bonds is 50 millionish and about 10 years to term, and the other is much longer. 25 years maybe?

In practice, the club doennt pay off debt early, but rather just sticks it in the bank and lets the interest it earns count towards the payments due on the bonds.

SO taken this way, the net debt was something like 140million in the last accounts if memory serves.