BAD DEBT, GOOD DEBT

Last updated : 22 July 2007 By Editor

Gill looking to refinance:

"There is no issue whatsoever. The financial structure we have in place at the moment is a long-term structure.

"Given where the debt market was two or three months ago, we looked at the opportunity of improving those financial structures to get the costs down a bit more.

"There was some turbulence in the debt market which meant the refinancing has not gone through. But I stress, it was an opportunity as opposed to having a requirement to do it.

"The club is in good shape financially this year and 2007 will see significant increases in revenue and profits."